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Big four banks make $15,000 a minute

Big four banks make $15,000 a minute in New Zealand

"Between them the big four banks operating in New Zealand made over $15,000 a minute in the past financial year," said Andrew Casidy, Acting General Secretary of the bank workers' union, Finsec.

"The profits for the ANZ, the BNZ, the National Bank of NZ and Westpac have climbed for many years," he said. "Staff cuts and branch closures have contributed heavily to them and have also added greatly to the stress of remaining staff.

"We want to say to banks that this level of profit is not sustainable without a loyal, contented, well trained and well paid workforce.

"You can't have loyal, contented staff if you don't plough some of those profits back into the areas that will benefit them, such as staffing levels and training.

"We invite our employers to join us in our work/life balance campaign.

"British employers, and the British Prime Minister Tony Blair, have endorsed such a campaign because they understand its positive, long term implications for business," Mr Casidy said.

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