Kiwibank says half year profits fell 41 per cent as bad debt provisions more than doubled.

Lending to customers at New Zealand's banks grew by a meagre 0.7 per cent in the second half of their financial year, a new report shows.

In the first mortgage rate cut of 2011, Kiwibank has dropped its one-year mortgage rate to 6.15 per cent from 6.45 per cent per annum.

Treasury is sitting on advice to the government about options for selling state assets, and is just waiting to be asked to produce it.

The Labour Party's finance spokesman, David Cunliffe, raised some eyebrows last Thursday

The Labour Party has signalled a willingness to allow private capital into state-owned enterprises - at the subsidiary level.

Kiwibank has cut its 2 year fixed mortgage rate to 6.59pc, to try and spice up housing demand.

New Kiwibank head Paul Brock is urging potential first home buyers not to be spooked and to go out and buy, so long as they can afford to.

Kiwibank's new chief executive Paul Brock wants to see the banking industry emulate its telecommunications counterpart and introduce bank account number portability.

Only seven companies - including the three "Heartland Bank" merger partners - have signed up for the Crown's extended retail deposit guarantee scheme.

Kiwibank accounted for 40 per cent of new residential mortgages written by the major banks in the June quarter.

APN News & Media, publisher of nzherald.co.nz, is today launching a nation-wide appeal for Christchurch earthquake victims.