Hope said that it was wrong to assume all high LVR borrowers were on comparatively low incomes; it might reflect a relatively high income and capacity to service the loan.

Heartland Bank today joined the New Zealand Bankers’ Association, bringing the total number of the association’s member banks to 14.

New Zealand Bankers’ Association chief executive Kirk Hope welcomed Heartland Bank. “We are pleased to have New Zealand’s newest bank join us. Having Heartland on board further demonstrates the diversity of our banking sector,” said Hope.

“Heartland is delighted to become a member of the association that has such an important role to play in the New Zealand banking industry,” said Heartland Bank chief executive Jeff Greenslade.

With roots stretching back to 1875, Heartland Bank provides services to small and medium-sized businesses, farms, and households in regional New Zealand. Heartland Bank became a registered bank in December 2012.

As the industry’s voice, the New Zealand Bankers’ Association supports a strong and stable banking system that benefits New Zealand. Member banks work together on non-competitive industry issues.

Other New Zealand Bankers’ Association members are ANZ Bank New Zealand, ASB Bank, Bank of New Zealand, Bank of Tokyo-Mitsubishi UFJ, Citibank, The Co-operative Bank, Hong Kong and Shanghai Banking Corporation, JPMorgan Chase Bank, Kiwibank, Rabobank New Zealand, SBS Bank, TSB Bank, and Westpac New Zealand.

Bankers Association chief executive Kirk Hope said the latest International Monetary Fund report on New Zealand pointed out the strength and stability of our banking system, and it was not helpful to compare it with Cyprus.

Kirk Hope, chief executive of the New Zealand Bankers’ Association, says the Fair Play on Fees campaign is misleading people and questions their figures.

NZ Bankers Association chief executive Kirk Hope talks to Mike Hosking about the news NZ’s biggest banks are being sued using class action for a collective $1 billion.

The New Zealand Bankers’ Association has today welcomed the appointment of interim Retirement Commissioner Diane Maxwell.

“Diane brings a wealth of experience to the role from both the banking and regulatory sides of the financial sector,” said New Zealand Bankers’ Association chief executive Kirk Hope.

“Diane has great skills in strategic development and delivering financial literacy programmes to communities.

“Diane’s an excellent interim appointment to this role. She will maintain momentum around the kinds of financial literacy initiatives which New Zealanders need,” added Hope.

Diane Maxwell is seconded from the Financial Markets Authority and was previously Head of Brand and Corporate Affairs at Bank of New Zealand

“Our banks communicate very clearly on fees, which is a reflection of our very competitive banking sector. The fees being singled out are avoidable, and our industry has also made it easy for customers to switch banks if they feel the fees they’re paying are too high,” New Zealand Bankers’ Association chief executive Kirk Hope said. He is advising customers concerned about fees to talk to their bank rather than lawyers.

Responding to news of the launch of the “Fair Play on Fees” action, bank lobby group the New Zealand Bankers’ Association said talk of legal action failed to take into account differences between the New Zealand and Australian banking sectors.

Talk of legal action today relating to bank fees fails to take into account differences between the New Zealand and Australian banking sectors.

“Australian legislation around civil suits is very different from what we have in New Zealand. We are surprised the lawyers running this don’t appear to know about these differences. We also note that similar action in Australia remains unresolved,” said New Zealand Bankers’ Association chief executive Kirk Hope.

“The New Zealand banking sector also operates quite differently from Australia where this is being driven from.

“Three of the four main fees being targeted by this action have been overseen by the Commerce Commission for the last ten years. The Commission has released draft guidelines regarding these fees.

“Our banks communicate very clearly on fees, which is a reflection of our very competitive banking sector. The fees being singled out are avoidable, and our industry has also made it easy for customers to switch banks if they feel the fees they’re paying are too high.

“Banks work hard to attract and keep their customers, and will work with them to reduce their fees. This came through in a Consumer NZ survey last year which found bank customer satisfaction at 92 per cent, outshining other industries.

“We’re also not sure what’s motivating the action, how many Kiwis have signed up to this action, what their cut of any successful law suit would be, or how they’ve calculated the size of the proposed claim.

“We’d encourage customers concerned about fees to simply talk to their bank, rather than talk to lawyers,” added Hope.

Ministry of Business, Innovation and Employment