Booming BNZ sets aside rural cushion
BNZ has cracked the billion dollar profit level, but has put aside a big pile of cash for potential bad debts from its rural customers.
BNZ has cracked the billion dollar profit level, but has put aside a big pile of cash for potential bad debts from its rural customers.
Bank shoots past the billion-dollar mark for the first time.
BNZ has disclosed research finding almost 1 in 3 homeowners will be older than retirement age before they throw off the shackles of a home mortgage.
State-owned bank now offering six-month rates of 5.19 per cent - and 4.59 per cent for a two-year term.
BNZ reduces one-year fixed rate to 4.35 per cent ahead of Reserve Bank's expected announcement that OCR will be cut.
NZ's five biggest banks continued to show strong earnings growth, but questions are being raised about whether this can be sustained.
BNZ has lowered its 2015/16 milk price forecast for Fonterra but says it expects dairy prices to recover late this year.
Reserve Bank may take interest rates to a new record low by October.
Things are still looking healthy for New Zealand's banks, despite a fall in lending margins at the start of this year.
Is the Govt really getting double the amount of dividends from its sold down power companies?
The number of mortgage holders paying break fees to cash in on near record-low interest rates has jumped, with some homeowners saving thousands from the switch.
McVitty Properties has completed its liquidation, leaving creditor BNZ with a shortfall of about $2.6 million.
KiwiSaver providers are struggling to move savers out of the default funds despite a requirement by the Government to give people more information on their choices.
BNZ boss Anthony Healy says he doesn't believe the Auckland property market is entering bubble territory.
BNZ cash earnings have risen 4.5 per cent in the six months ended March 31 to $418 million as growth in housing and business lending, and lower funding costs, drove up net interest income.
At least four banks have quietly dropped cash incentives aimed at wooing home loan customers.
NZ's first mobile wallet has been launched by technology company Semble in collaboration with national mobile operators and banks.
Thousands of BNZ customers are set to lose the ability to earn airpoints on credit card transactions, though the bank is offering a new cash-back incentive.
Air New Zealand is dropping BNZ in place of Westpac as its official Airpoints partner.
The monetary policy shadow board's advice to Reserve Bank governor Graeme Wheeler is unchanged from six weeks ago - keep the official cash rate on hold at 3.5 per cent, with a cut the next best....
The major banks are breathing a sigh of relief that the Reserve Bank has decided to drop the 5+ proposal.
Home loans became more affordable last month, with the typical home buyer saving $30 per week on mortgage repayments compared to December.