Shane Jones wants big Aussie banks forced to stay in the regions

Drive 30/08/2018
Photo: Getty.

Regional Development Minister and NZ First MP Shane Jones has given the Australian banks operating in New Zealand a serve.

The major retail banks, ASB, BNZ, Westpac and ANZ made a combined profit of $4.9 billion in the year-to-December 2017, according to the Reserve Bank.

Meanwhile, Westpac, ANZ and BNZ have reportedly closed collectively almost 50 branches across the country over the past two years.

Mr Jones their monster profits mean they owe the regions better service. The NZ First MP says he wants to legally be able to hold them to that.

He is now taking his complaint further and is due to meet with Reserve Bank Governor Adrian Orr within the coming weeks.

The Regional Development Minister Shane Jones spoke with RadioLIVE Drive.

Listen to the full interview above.

Drive with Ryan Bridge and Lisa Owen, 3pm - 6pm Weekdays and streaming live on 'rova' channel 9 - available on Android and iPhone.