The Big 4

New Zealand's Big Four banks — ANZ, ASB, BNZ and Westpac — made a combined $6.5 billion in after-tax profit last year. Almost every cent of it left the country. In this video, I break down what's actually driving those numbers, what the Commerce Commission's 2024 banking investigation found, and what it means in practice if you've got a mortgage, a business loan, or farm debt. 🕐 Chapters 00:00 Introduction 00:45 The profit numbers in context 02:30 Are the banks charging too much? 04:15 Rate cuts and the OCR lag 05:30 What this means for rural businesses 07:00 Is anything being done? 08:00 The bottom line The Boring Accountant turns complex financial topics into plain English — especially for Kiwi farmers, rural business owners, and small business operators. Subscribe so you don't miss the next one. https://theboringaccountant.co.nz/202...