National's Nicola Willis is weighing in on the ongoing banking profit saga.

The opposition's finance spokesperson is suggesting a select committee run a 'short, sharp' inquiry into the increased bank profits.

Nicola Willis has proposed this select committee keep the scope of the inquiry focussed, hearing evidence from a narrow group of stakeholders.

NZ Herald Wellington business editor Jenee Tibshraeny says Nicola Willis wants this investigation to be quicker and less resource-intensive than a formal Commerce Commission market study.

LISTEN ABOVE

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• Simplicity Founder suggests open banking could bring profits down without an independent investigation
• Bank profitability reaches eight-year high in December quarter
• National wants inquiry into bank profits