New Zealand banks lift advertising spending 38% in first-half of 2018 led by BNZ and ANZ

New Zealand banks lift advertising spending 38% in first-half of 2018 led by BNZ and ANZ

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I don't even need to read the article on this one! In early economics lessons you are taught that the existence of advertising spending is in itself evidence that 'perfect competition' doesn't exist. The fact that advertising spend has gone up 38% (at the end of the credit cycle) would suggest to me that we are very far away from having perfect competition in our banking industry.