Banking profits up 13.6 %
Wellington - Arabstoday
New Zealand banking sector profits rose 13.6 percent in the year to September 2012, according to a survey by KPMG. Head of financial services John Kensington says it might sound like a lot, but it's not excessive. He says it's quite fortunate New Zealand's banks didn't indulge in the kinds of practises overseas that led directly to the financial crisis, and a strong banking sector is good for the country. 3news
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