That is right, last year, they made $5.2 billion in profits. They certainly are not poor. They are charging almost 20 per cent in interest on credit card balances. It takes some doing. That is incredible. As rich as they are, banks are doing what they can to become even richer.
Recently, the Liberal government denied banks access to the insurance sector. I must admit that they were served a warning. Perhaps their next request will be granted, like automobile leasing for example, which is extremely profitable. Perhaps the Liberal government will decide to give them a nice little present.
Of course it is in the best interest of this government that the six federally chartered banks make huge profits. It is well known that they do make profits. They are doing well and the government will make sure that they can expand into other areas.