Yesterday's interim profit posted by St George Bank reinforces the need for a social charter for banks, the federal Shadow Parliamentary Secretary of Consumer Affairs and Banking Services Alan Griffin says. St George yesterday announced a profit of $244 million for the six months to March 31, an increase of 41%, while net profit fell by 11.4%. Griffin says the "obscene profit" indicates evidence for a social charter for banks continues to grow, claiming the growth was partially fuelled by fee initiatives as part of the Best Bank Redesign program. "It shows that many customers are still paying too much in banking fees," he says. "With public concern over fee increases and some banks cutting back on branch networks running high, the government must act. "A proper social charter covering all banks will ensure a more affordable and accessible banking system for all Australians." Banks have been increasingly under fire since the announcement that 56 National Australia Bank branches across Australia will close in the next few months.