Challenge to banks the way to go

Allowing other financial institutions to compete will help economy

A government enquiry into rural banking will generate a lot of headlines over the coming year but is unlikely to disrupt the “cosy” banking oligopoly lending to New Zealand farmers.

That’s the verdict from Brent King, managing director of NZX-listed General Capital - owner of finance company General Finance, which currently offers some of the most competitive term deposit rates available to Kiwi investors.

“Between this inquiry and the one into personal banking, there’s a real risk of regulatory fatigue setting in,” says King. “We’ve known for years what will help the rural sector access the capital needed to help productively grow the economy. The Government and the Reserve Bank of New Zealand could make the changes tomorrow.”

read more:

• https://www.nzherald.co.nz/sponsored-stories/challenge-to-banks-the-way-to-go/GPRZ5TEIQRE7RKWKSVDOUOZIC4/

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Comvita reaches agreement with lending partners
December 11th Morning Report
December 10th Morning Report
CDI APPOINTS JULIAN SMITH AS INDEPENDENT DIRECTOR
EROAD director Cameron Kinloch to step down in March 2026
RUA - Pro Rata Rights Offer
December 8th Morning Report
GEN - Dividend Reinvestment Plan Strike Price
Fletcher Building Update on Funding Facilities
December 5th Morning Report