The Labour government has again hinted it will direct the Commerce Commission to conduct a market study into the profitable New Zealand banking sector.  Duncan Webb, the Minister of Commerce and Consumer Affairs, said on Tuesday bank profits were 'front of mind' although no decision had been made on the next market study.  Another possible candidate would be the insurance industry, which is dominated by Australian firms IAG and Suncorp which both reported profit increases in 2022. Government agencies have previously expressed concern about competition in the industry and even suggested a market study was necessary .

https://www.interest.co.nz/banking/121135/commerce-minister-duncan-webb-says-bank-profits-are-top-mind-when-considering-next

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