New Zealand and Australian banks are worried about regulation, pricing risk, political interference, Australasia’s economic environment and their own sales and business practices according to a PricewaterhouseCoopers global report entitled Banking Banana Skins 2014: Inching towards recovery. The report, released this week, is based on a worldwide survey of 650 bankers – including 16 from Australia and New Zealand – who identified 28 risks they believe the industry could slip-up on in 2014.
Respondents think new banking regulations introduced since the global financial crisis and the “accompanying global political backlash against banks” could damage the banking industry and impede economic recovery. That said, the findings also reveal a drop in banker “anxiety about the state” of their industry for the first time in seven years – confirming that the financial crisis is finally over.
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