The Banking Association is pleased the Commerce Commission's looked at banks' regulatory environment -- and how it impacts competition

The commission's final report on the personal banking sector's found little competition, with the Australian-owned banks turning high profits.

It recommends Kiwibank has greater access to capital, to better compete.

Association chief executive Roger Beaumont says they think banks are probably the most regulated industry in the country.

He says that has a huge impact on the processes a new bank has to go through to become a registered bank.