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Bank shareholders profit while you wait

Bank shareholders profit while you wait

"Last year, in the fifteen minutes it took a bank customer to get to the top of the queue, the big five banks together made a total net profit of $315,000," said Andrew Casidy, General Secretary of the bank workers' union, Finsec.

"This translates into a total net profit for the five big banks of $2.3 billion a year - an hourly total of $1.2 million - as compared to the previous years all-up profit of $1.9 billion.

"Of course the customer will be lucky to find a bank branch because almost every three business days since 1994 a New Zealand bank branch has closed. They will still get the very best service bank staff can give them, in spite of the fact that every business day since 1994, 2.8 bank staff have lost their jobs.

"These figures from KPMG reports* validate the concerns of staff who have responded in large numbers to a survey which is part of our union's campaign to reduce stress as a workplace hazard.

"Finsec's survey asks participants to identify three major obstacles to their work/life balance. The results have, so far, overwhelmingly pointed to low staffing levels as the primary cause of stress.

"It's time the banks reduced the hazardous levels of stress amongst their staff. The Health and Safety in Employment Act says they must, and they certainly can't complain that they're too hard up to do it!" Andrew Casidy concluded.

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