Central Bank Governor Larry Howai says regulators are continuing to monitor bank fees following recent increases.
Speaking after the launch of the National Financial Literacy Programme’s FinLit Live event today, he said there is a need to balance the interests of banks and consumers.
Mr Howai acknowledged that charges reflect expenses such as anti-money laundering compliance, cyber security, staffing and other overheads.
However, he said these could be considered excessive or exploitative if markups go beyond those costs, but reassures that consumer protection remains of concern.
Mr Howai noted that while the Finance Act 2025 introduced a 0.25% commercial asset levy on banks and insurers, he believes it is not seen as a major driver of fee increases.
