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Banking

CEO Steve Jurkovich says Covid-19 has caused a pause and reassessment of Kiwibank's digital strategy, but led to it 'doubling down' on plans to use the cloud
15th Jun 20, 9:55am
CEO Steve Jurkovich says Covid-19 has caused a pause and reassessment of Kiwibank's digital strategy, but led to it 'doubling down' on plans to use the cloud
Bank of China New Zealand grows residential mortgage lending 14.4% in March year
8th Jun 20, 9:54am
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Bank of China New Zealand grows residential mortgage lending 14.4% in March year
Bank for International Settlements paper points out the financial stability implications of mortgage deferrals will be driven by the extent to which borrowers are willing & able to repay once 'holidays' end
6th Jun 20, 10:02am
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Bank for International Settlements paper points out the financial stability implications of mortgage deferrals will be driven by the extent to which borrowers are willing & able to repay once 'holidays' end
QE, the wage subsidy and nervous investors see banks sit with more cash to lend, than borrowers to lend to
4th Jun 20, 3:53pm
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QE, the wage subsidy and nervous investors see banks sit with more cash to lend, than borrowers to lend to
New Zealand home loan borrowers are now getting fixed rates at bigger discounts to Aussies even as rates fall everywhere. They are falling faster here than across the ditch
3rd Jun 20, 5:06am
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New Zealand home loan borrowers are now getting fixed rates at bigger discounts to Aussies even as rates fall everywhere. They are falling faster here than across the ditch
ANZ announces sale of asset financier UDC to Japan's Shinsei Bank, which says UDC will continue to grow and contribute to the development of the NZ economy
2nd Jun 20, 12:09pm
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ANZ announces sale of asset financier UDC to Japan's Shinsei Bank, which says UDC will continue to grow and contribute to the development of the NZ economy
Reserve Bank data shows just how significant the initial impact of the COVID-19 crisis has been on New Zealand banks, with smaller NZ owned banks hit hardest
2nd Jun 20, 9:53am
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Reserve Bank data shows just how significant the initial impact of the COVID-19 crisis has been on New Zealand banks, with smaller NZ owned banks hit hardest
The number of borrowers going interest only increases, as 24% of housing and 41% of business loans were interest only at the end of April
29th May 20, 5:57pm
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The number of borrowers going interest only increases, as 24% of housing and 41% of business loans were interest only at the end of April
TSB launches a virtual bank, saying the COVID-19 crisis has proven customers can still get personal, human service, but more conveniently via a video call
29th May 20, 2:20pm
TSB launches a virtual bank, saying the COVID-19 crisis has proven customers can still get personal, human service, but more conveniently via a video call
RBNZ Deputy Governor Geoff Bascand says deposit rates could drop to zero and some savers might want to put their money to work elsewhere
28th May 20, 12:02pm
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RBNZ Deputy Governor Geoff Bascand says deposit rates could drop to zero and some savers might want to put their money to work elsewhere
HSBC could quit small, non-strategic countries including New Zealand, the Financial Times suggests. HSBC NZ says business constantly reviewed but Asia will continue to be a core engine for business growth
28th May 20, 9:51am
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HSBC could quit small, non-strategic countries including New Zealand, the Financial Times suggests. HSBC NZ says business constantly reviewed but Asia will continue to be a core engine for business growth
RBNZ Governor Adrian Orr says bank regulatory capital increases on ice during COVID-19 crisis remain very much in the regulator's plans
28th May 20, 5:00am
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RBNZ Governor Adrian Orr says bank regulatory capital increases on ice during COVID-19 crisis remain very much in the regulator's plans
The Reserve Bank says in the lead-up to the level 4 lockdown some $800 mln of extra cash was pumped into circulation
27th May 20, 10:51am
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The Reserve Bank says in the lead-up to the level 4 lockdown some $800 mln of extra cash was pumped into circulation
Reserve Bank says banks' loan losses will 'rise materially from current low levels', however they should be able to cope in all but the most severe scenarios
27th May 20, 9:44am
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Reserve Bank says banks' loan losses will 'rise materially from current low levels', however they should be able to cope in all but the most severe scenarios
BNZ's auditor warns of the uncertainties of COVID-19's impact, while Westpac NZ flags highly impacted customers as those in industries exposed to social distancing, travel, and supply chain disruption
26th May 20, 9:23am
BNZ's auditor warns of the uncertainties of COVID-19's impact, while Westpac NZ flags highly impacted customers as those in industries exposed to social distancing, travel, and supply chain disruption
COVID-19 crisis is increasing attention on corporate social behavior, away from shareholder primacy to greater emphasis on the needs of employees, clients, society and the environment, Moody's says
24th May 20, 7:31am
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COVID-19 crisis is increasing attention on corporate social behavior, away from shareholder primacy to greater emphasis on the needs of employees, clients, society and the environment, Moody's says
BNZ economist Paul Conway says the overarching objective of rebuilding the economy in the wake of COVID-19 must be to improve productivity and ensure the benefits are widely spread
24th May 20, 6:02am
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BNZ economist Paul Conway says the overarching objective of rebuilding the economy in the wake of COVID-19 must be to improve productivity and ensure the benefits are widely spread
RBNZ Governor says banks will need to be 'forgiving' as more people are set to lose their jobs as mortgage repayment deferrals expire 
19th May 20, 5:12pm
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RBNZ Governor says banks will need to be 'forgiving' as more people are set to lose their jobs as mortgage repayment deferrals expire 
RBNZ says banks haven't been lending heaps partly because some businesses don't want more debt... yet; Meanwhile Grant Robertson eyes new ways to support medium-sized businesses as small businesses pile in for interest free loans from the IRD
14th May 20, 8:32am
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RBNZ says banks haven't been lending heaps partly because some businesses don't want more debt... yet; Meanwhile Grant Robertson eyes new ways to support medium-sized businesses as small businesses pile in for interest free loans from the IRD
ASB's CEO Vittoria Shortt says Covid-19 pandemic has caused a crisis of confidence with the tough decisions yet to come as parent CBA steps up loan loss provisions
14th May 20, 8:31am
ASB's CEO Vittoria Shortt says Covid-19 pandemic has caused a crisis of confidence with the tough decisions yet to come as parent CBA steps up loan loss provisions
Management consultancy McKinsey & Co says the COVID-19 pandemic has revealed unexpected flaws in banks' business models which they must urgently address
12th May 20, 8:06am
Management consultancy McKinsey & Co says the COVID-19 pandemic has revealed unexpected flaws in banks' business models which they must urgently address
Staff returning to work at the big banks under Alert Level 2 in a social distancing world will no longer be activity-based working or hot desking
11th May 20, 8:48am
Staff returning to work at the big banks under Alert Level 2 in a social distancing world will no longer be activity-based working or hot desking
S&P lowers outlook on Kiwibank's 'A' credit rating to stable from positive citing uncertainty about the bank's digital strategy caused by the COVID-19 pandemic
7th May 20, 8:36am
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S&P lowers outlook on Kiwibank's 'A' credit rating to stable from positive citing uncertainty about the bank's digital strategy caused by the COVID-19 pandemic
Despite the apparent shunning, by the masses, of cash, the amount of cash in circulation has never been higher - and there was plenty of it moving around before the start of the lockdown
6th May 20, 2:00pm
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Despite the apparent shunning, by the masses, of cash, the amount of cash in circulation has never been higher - and there was plenty of it moving around before the start of the lockdown
Westpac NZ takes 'conservative' position on loan provisioning in uncertain COVID-19 dominated world, chief financial officer Ian Hankins says
5th May 20, 7:45am
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Westpac NZ takes 'conservative' position on loan provisioning in uncertain COVID-19 dominated world, chief financial officer Ian Hankins says