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The Independent UK
The Independent UK
National
Sravasti Dasgupta

Jacinda Ardern slams banks for taking huge profits during cost-of-living crisis: ‘I’m simply being frank’

Jacinda Ardern New Zealand
Copyright 2022 The Associated Press. All rights reserved

New Zealand prime minister Jacinda Ardern has critcised banks in the country for making profits amid the cost-of-living crisis and said that they are risking losing the “social license” to operate.

“We’ve seen repeated significant profits being drawn by banks in New Zealand. This is not what I would argue as a one-off, we’ve seen this consistently,” Ms Ardern was quoted as saying on Monday during a post cabinet press conference by stuff.nz.

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