Bank profits soar while economy crawls

With a massive resurgence in profits that significantly outperforms growth in the rest of the economy it is time for the Australian banks to sign up to a Better Banking Charter, Finsec said today. The big four Australian owned banks posted profits of nearly $2 billion in the last financial year.

Both Finsec and its sister union the Finance Sector Union of Australia are calling on the banks to sign up to our Better Banking Charter to increase accountability for the sector.

“In Australia these banks are facing customer and community outrage over interest rate and fee gouging and massive CEO bonuses. It is time to set some fair rules to ensure that we don’t see more of these tricks in New Zealand,” said Finsec Campaigns Director Andrew Campbell.

“The charter sets out what the average Kiwi would consider fair. That banks don’t increase interest rates more than they have to and that jobs are not sent overseas or cut while profits rise,” said Campbell.

Advertisements

0 Responses to “Bank profits soar while economy crawls”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




You can contact us at:

0800 FINSEC (0800 346 732)
union@finsec.org.nz
www.finsec.org.nz


Creative Commons License
Join Now 0800 FINSEC

RSS LabourStart – act now to help other workers

  • An error has occurred; the feed is probably down. Try again later.

Finsec Photos

Archives


%d bloggers like this: