They completely dominate the New Zealand commercial sector
in terms of profitability and have a huge impact on the domestic economy,
particularly residential property.
The four banks — ANZ Bank New Zealand, ASB Bank, Bank of New
Zealand and Westpac New Zealand — reported combined statutory profits after tax
of $5128 million for the latest year, a 9.2 per cent increase over the same
period in 2016/17 (see table).