Greg Smith

Look, you know, banks are really well capitalized, you know, and always go back to the, someone will remember that, but, you know, the global financial crisis where American banks sort of going under and having bailouts.

We didn't have that in Australasia.

So I think, again, that's something to celebrate, talking about that sort of punching bag analogy.

So we've got really good, strong, stable banks, dependable banks, implicitly backed by the government.

So there's all that.

And they're well-branded.

Have they got too big?

I'm sure that's going to be another election debate as well.

Obviously, asset sales is one thing.

I'm sure there'll be various politicians throwing out there about breaking out the New Zealand, which has typically been a really profitable part for the Aussie banks, the New Zealand operations.

I'm sure that'll be kicked around.

From us as a KiwiSaver provider, yeah, the banks do dominate that market.

We're at around about 6.5% market share.

We want to get to 10%.

If we do that, we will be taking some members off the banks, I'm sure.

Oh, absolutely.

Yeah, for sure.

Yeah, prepare for...

The worst case scenario, I suppose, that's one way.

Look, that's a bit doom and gloom, isn't it?