Bank earnings are surging, with Westpac reporting its annual earnings had risen by 12%, hitting just over $1b.
The bank refused an interview - but said its underlying cash profit is actually down 2% down if the sale of Westpac Life is excluded.
We also approached ANZ, Kiwibank and the New Zealand Bankers Association to speak to us this morning, all declined.
The Prime Minister is accusing banks of not serving communities struggling with the cost of living but says the government does not have a solution.
Massey University business school Dr Claire Matthews spoke to Corin Dann.
