Firms maximise profit!

At least banks do, according to Kiwibank chief executive Sam Knowles,

Most banks are only interested in making as much money as possible out of their current customers, Kiwibank chief executive Sam Knowles says.

And he adds,

While Kiwibank aimed to grow its customer base to increase profit, the Australian-owned banks wanted to make money off current customers, said Knowles.

As a theory of the firm man I'm bloody glad to hear it. We always assume firms maximise profits, so its good have have this confirmed.

(HT: TVHE)