Banks facing hefty challenges
The A$30 billion combined annual cash profit reported by Australasia's big four banking giants is an eye-popping figure by anyone's measure.
The A$30 billion combined annual cash profit reported by Australasia's big four banking giants is an eye-popping figure by anyone's measure.
Inflation is likely to undershoot the Reserve Bank's forecast in 2016 because of an unexpectedly strong kiwi dollar Westpac Banking Corp economists say.
Westpac New Zealand expects Auckland's heated housing market to cool following regulatory changes.
But shine of record earnings dulled by news of slower growth.
Journalist Nicky Hager has spoken of the "privacy breach" which saw police getting his personal banking information from Westpac without any legal order.
October 2015 may just be remembered as the month when the great Australian housing boom came to an end.
The second of Westpac's four Auckland business awards was a glitzy black tie affair last week, held at the Vodafone Events Centre and emceed by Frankie Stevens - whose jokes were on point as....
A $3 million test case between a motelier and Westpac over interest rate swaps was called off before a judge had the chance to decide the dispute.
A handful of farmers are refusing to settle or take a payout from the big banks that sold them controversial 'interest rate swaps'.
Westpac's CEO is planning to invest an extra A$200m a year in digital initiatives to boost the bank's customer numbers, as well as drive down costs.
State-owned bank now offering six-month rates of 5.19 per cent - and 4.59 per cent for a two-year term.
Auckland could take another 86,400 dwellings in the next eight years without any risk of over-building.
The country's economic outlook may have softened but the Westpac Bank is still positive about its own situation, says its chief executive David McLean.
Downbeat economic commentary continued to flow yesterday, with Westpac saying it expects New Zealand's annual GDP growth to dip below 2 per cent, while ANZ's Truckometer is pointing to a clear....
Union chief says he received a tip that hundreds of Westpac staff face losing their jobs.
The rebuild has represented a large, if tragic, boost to demand, equivalent to nearly a fifth of a year's output for the New Zealand economy.
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.
New Zealanders grew more downcast about the state of the labour market in the second quarter, with a softer outlook for wage growth weighing on confidence.
The former New Zealand boss of JPMorgan Chase will need to bring any claim against the bank in the District or High Court.
The account surplus was larger-than-expected in the first quarter as spending by tourists widened the services balance.
Is the Govt really getting double the amount of dividends from its sold down power companies?
ASB has followed the lead of ANZ and Kiwibank and slashed its fixed mortgage rates.
Westpac could join a mortgage-rate battle after Kiwibank and ANZ slashed their home loan rates.
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.
ANZ Bank New Zealand, the country's biggest lender, was the most aggressive in pitching interest rate swaps to farmers, the Commerce Commission says.
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.
The home loan environment could be "as good as it gets" for borrowers, although the potential remains for mortgage rates to track even lower, says Westpac NZ CEO David McLean.