{video} Tough times may still lie ahead for New Zealand households, and banks are concerned about how some of their customers will cope, a banking expert says. KPMG’s latest financial institutions performance survey found the banks made a combined net profit after tax of $7.21 billion in 2023, up 0.28%. “2023 has proven to be a challenging year for the sector, with participants remaining cautious as they navigate the difficult economic conditions ahead and as they aim to strike a balance between opportunity and risk,” said KPMG partner for banking John Kensington. He said the banks’ net interest margin – the ... (full story)