How not to break the banks
Stress tests show it would take an extraordinary series of events for New Zealand's banks to fail, Rob O'Neill reports.
Stress tests show it would take an extraordinary series of events for New Zealand's banks to fail, Rob O'Neill reports.
Westpac's full-year annual profit fell 7 per cent or A$567 million which the bank blamed on "a number of significant infrequent items".
A Westpac bank teller has failed in a bid to keep her name secret after being charged with stealing nearly $12,000 from client accounts.
New Zealand banks paid out nearly $450,000 in the last year to settle disputes with their customers.
Telecommunications companies are concerned about a proposal which will allow companies to volunteer suspicious information about their customers to spying agencies.
A new charity event in Auckland is the first of its kind in the world.
As Australian banks face the political spotlight one bank boss offers a solution to customers who find switching too much bother.
Medicine ads pulled off Chinese language sites after inquiries made.
As more people do online transactions, small towns must adapt to closures.
A Whanganui resident has been subject to scam banking text messages.
The housing market will correct, but it will take a few years, Wespac's David McLean tells Anne Gibson.
Bank closures are expected by early November with 19 branches to shut.
Westpac staff at 19 branches around the country are expected to be told late today whether their branch will close.
COMMENT: Westpac is leading the way with its investments in tech startups and the online mortgage broker uno.
The mayors of two towns facing the prospect of two major banks closing up shop within weeks of each other say people are shocked at
ANZ bank, the country's largest bank, could be closing branches around New Zealand.
Auckland property developers fear that a sudden tightening of bank lending may "throttle" new housing projects despite the city's desperate housing shortage.
Kiwibank says it won't be stepping in to fill the void left by Westpac's proposed branch closures. First Union says Westpac is planning
Three towns will be left with no bank branches if Westpac goes ahead with a raft of planned closures.
A union spokesman said up to 19 branches could close, putting up to 100 jobs at risk.
Helicopter rides and late night trips to hotels are par for the course for bankers to New Zealand's wealthiest.
NZ's banks have shrugged off global market turmoil and depressed dairy sector to make a net profit of $1.2 billion in the first three months of this year.
The Reserve Bank driven the exchange rate down after it signalled a likely cut in the cash rate next month and raised possibility of further reduction.
Westpac's New Zealand unit is cutting interest-only lending terms to a maximum of five years, in a market where investors are the driving force.
ANZ faces three separate High Court claims from farmers who bought controversial financial products from the country's largest bank.
Consumer confidence fell below its long-run average in the June quarter.
ASB is the fourth major bank to impose lending restrictions on foreign home buyers.
BNZ has joined ANZ Bank and Westpac's local unit in restricting mortgage lending for foreign property buyers.
Two of our biggest banks will no longer lend to overseas-based buyers of New Zealand property.