Business and banking industry news

30 Aug 16, 5:23pm
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NZ banks reined in advertising spending during the first half of 2016 led by ANZ, with just 2 of 10 banks increasing spending
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29 Aug 16, 2:57pm
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Westpac appoints digital advisor to its board & CEO to help the bank 'anticipate and identify ways to deliver world class digital services'
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29 Aug 16, 10:25am
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Commerce Commission attempts to establish how the Consumer Finance Act 2003 applies to peer-to-peer lender's 'platform fee'; Harmoney 'disappointed' with action
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29 Aug 16, 10:21am
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CEO Paul Brock says Kiwibank's still finding ways to compete for deposits in low interest rate world; Core banking system upgrade halfway there
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29 Aug 16, 10:16am
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Big banks' profits and funding costs down in June quarter as loan provisions and costs rise
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25 Aug 16, 10:10am
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Accountants more cautious than lawyers and real estate agents about being drawn into the AML/CFT Act
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24 Aug 16, 4:02pm
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Westpac NZ sees June quarter net interest margin slide, cost of funds drop, and cost to income ratio rise
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23 Aug 16, 4:30pm
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BNZ June quarter funding costs, net interest margin fall, cost to income ratio rises
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23 Aug 16, 9:20am
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Governor defends flexible inflation targeting regime; sticks with MPS view of another 35 bps of OCR cuts; says holding OCR would push up NZ$; but says more aggressive cuts would not lower NZ$ much and would worsen housing imbalances
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23 Aug 16, 5:03am
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Ministry of Justice non-committal on who will supervise newcomers to Anti-Money Laundering & Countering Financing of Terrorism Act
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22 Aug 16, 10:23am
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Ryan Greenaway-McGrevy says developing a more efficient customs process will make it faster & cheaper for big & small players across TPPA countries to do business
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22 Aug 16, 10:03am
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Zhang Jun says regional differences in economic performance reflect the country's massive structural changes as it seeks the status of a high-income economy
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18 Aug 16, 9:55am
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Craigs Investment Partners lifts target price on Heartland Bank shares by 13% after annual results
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17 Aug 16, 11:16am
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Statistics NZ reports unemployment fell to 5.1% in June quarter from revised 5.2% in March quarter; Under-utilisation rate, which includes unemployed and those who want more work, at 12.7%; 342,000 out of work or want more work
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17 Aug 16, 9:59am
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ANZ NZ provision for credit impairment and capital both rise, dividend drops
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16 Aug 16, 1:07pm
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English says unfair to say Wheeler has failed to meet his performance target on keeping inflation around 2% when global inflation is very low and NZ economy is growing faster than 3%; says 2nd term up to board
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16 Aug 16, 10:31am
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New Zealand's biggest bank records profit fall due to rising bad debts and software charge
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15 Aug 16, 4:40pm
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NZ financial services professionals discover their IDs being used without permission by dubious Israeli binary options firm
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15 Aug 16, 10:34am
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Ryan Greenaway-McGrevy looks at how the global supply chain poses a problem for the boffins who have to nut out the details of preferential trade agreements
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12 Aug 16, 1:21pm
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NZ Bankers' Association completes about face on 'weak tool with low welfare gains', but is wary of RBNZ move towards debt-to-income ratio limits & making banks hold more capital against housing loans
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12 Aug 16, 9:01am
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China is using Zespri to signal to the world it's becoming bigger on quality rather than quantity, says an Asia NZ professor
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11 Aug 16, 4:26pm
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ASB June quarter net interest income and profit up, cost-to-income ratio and cost of funds down
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11 Aug 16, 11:11am
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RBNZ's Wheeler expects banks to pass on most of OCR cut; says RBNZ will send debt to income multiple limit plan to English in next week or two, but unlikely to be introduced this year; says migration putting downward pressure on wages
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11 Aug 16, 9:12am
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RBNZ cuts OCR by 25 bps to 2.0% and forecasts just one more cut; NZ$ sprints over 73 USc after markets had forecast chance of 50 bps cut
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10 Aug 16, 10:34am
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ASB annual profit hits NZ$913 mln despite fall in net interest margin and higher provisioning for loans to dairy farmers
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