Opinions

Customers drive banking innovation

16.01.2017

This century we’ve seen a massive leap in access to personal digital technology. That’s clearly reflected in how we’re now banking. These technological advances mean we’re managing our money in ways that many did not foresee. What’s behind these changes, and what does the future hold? 

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Resilient banks, a resilient economy

24.02.2016

Published in KPMG’s Financial Institutions Performance Survey 2015 

In the past year New Zealand’s economy has faced numerous challenges – dairy prices fell, commodity prices decreased, growth in China slowed, and the housing market remained constrained as demand continued to outstrip supply – yet New Zealand’s banking sector remains stable. How have our banks remained resilient while facing risk in global and local environments?

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Banking fraud or online scam?

01.10.2015

Eventually you work out this is a scam and stop the payments. Surely your bank will reimburse your losses under its fraud guarantee? Think again. Any online scam is not necessarily the same as banking fraud.

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Navigating bumps in the dairy sector

11.08.2015

The downturn in the dairy sector has been widely reported. There has also been a lot of speculation about the gravity of the situation and how bad it will get. Let’s not get ahead of ourselves. 

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Profitability underpins economic growth

25.02.2015

Bank profits routinely attract attention in New Zealand. The numbers are not inconsiderable with an industry total of around $4.8 billion in 2014. Banks often face the question – are they making too much money? 

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Money and me: Kirk Hope

07.01.2015

What does money mean to you?

Careful investment means you and your family can have a wider range of choices in the way that you live your life. That involves understanding the risks you are willing to take with money and making sure that the rewards or returns are real. 

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Foil the fraudsters this festive season

15.12.2014

A time of good cheer and peace to all. Except when you find someone’s been dipping into your bank accounts or your credit card has just inexplicably maxed out. This is also the time of year when fraudsters get busy. 

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KiwiSaver: why it’s so popular

04.11.2014

In seven short years over 2.3 million New Zealanders have signed up and collectively saved around $20 billion. Love it or hate it, and most of us love it, you can’t deny that KiwiSaver has been a huge success in both getting savers on board and beginning to accumulate an impressive national nest egg. 

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Fighting fraud together

30.10.2014

We all have an important role to play in protecting ourselves and our money from financial crime and banks stand by their promise to reimburse genuine victims of internet banking fraud. 

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Bedding in change and staying ahead of the game

04.03.2014

2014 is shaping up to be another busy year for banks. It will largely be about continuing innovation and meeting customer demands in a very competitive environment, and bedding in recent regulatory changes. 

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Hard calls to nurture green shoots

11.02.2014

All regulation should achieve a clearly defined purpose without imposing unnecessary costs and unintended consequences on businesses and consumers. More than lip service is needed to make sure we get regulation right. In a country and economy the size of New Zealand we can’t afford to get it wrong.  

All regulation should achieve a clearly defined purpose without 
imposing unnecessary costs and unintended consequences on businesses and consumers. All regulation should achieve a clearly defined purpose without imposing unnecessary costs and unintended consequences on businesses and consumers. More than lip service is needed to make sure we get regulation right. In a country and economy the size of New Zealand we can’t afford to get it wrong.
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How our banks stack up

08.01.2014

While comparisons between different countries aren’t always simple, it’s fair to say our particular crop of banks serve us well in terms of customer service, innovation and good business practice. 

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Thinking of helping a first-home buyer?

06.09.2013

It’s Money Week. This year we’re being encouraged to make a date with our money. The idea is to set aside some time to take stock of your financial situation and make a plan for the future. It’s about not waiting for a significant life moment, like buying your first house, to get financially sorted. 

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Questioning the banking industry

10.07.2013

Fair Go takes the questions you want answered about banks to the head of the Bankers' Association. 

Live Chat: Bankers' Association CEO Kirk Hope

12.06.2013

New Zealand Bankers' Association chief executive Kirk Hope answers your questions about the banking industry. 

Time to bring back compulsory savings

08.05.2013

What can we do to give our economy a boost and address our net external debt? One way would be to consider introducing compulsory savings. We could also take a closer look at the state provision of superannuation in New Zealand. 

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Ensuring fiscal stability a delicate balancing act

07.02.2013

The overarching theme for banking around the world in 2013 will continue to be financial stability – how to achieve it, and how to maintain it.

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Banks to play part in combating money laundering

08.01.2013

New Zealand banks are joining financial institutions around the globe to help reduce money laundering.

From June this year all banks in New Zealand will need to do more to check customer identity and, in some cases, account activity. This is required under New Zealand law. It helps to support our financial reputation overseas, protect us from financial crime, and meet our international obligations to fight money laundering.

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Bank customer privacy

07.12.2012

Letter to the Editor of the New Zealand Herald

Banks take customer privacy and their obligations under the Privacy Act 1993 very seriously.

The disclosure of customer information by banks to law enforcement authorities is contemplated in the Code of Banking Practice and in bank terms and conditions.

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Live Chat: Banks and banking

22.11.2012

Banks and banking are a crucial part of the modern economy. But bank profits and salaries of bank managers have attracted criticism - are the banks doing their part?

Kirk Hope, chief executive of the New Zealand Bankers' Association joined us for a live chat.

The truth behind those banking profits

05.11.2012

Some banks have recently posted their annual results, which has brought attention to increased profits. So why do banks need to make money and what else is going on here? 

Most people understand that a strong banking sector underpins our economy because banks provide finance to businesses and home-owners. Banks must make returns to continue operating.

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Banks make $6 billion contribution

10.10.2012

Response to Graham Adams in Metro, October 2012

Graham Adams asks why we allow banks to ransack our economy? His opinion of the banking industry couldn’t be further from the truth. Last year banks made a direct contribution to the New Zealand economy of around $6 billion.

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Tax rules block road to single ANZAC market

01.10.2012

For nearly 30 years New Zealand and Australia have been moving closer together. This isn’t just about Kiwis living on the Gold Coast. It’s about greater economic integration and the move towards a single economic market. So where’s all this going and how will we get there?

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Privatisation squabble holds back pension debate

04.09.2012

It’s Money Week. It’s not just about our everyday personal money management. We also need to think about how we’re providing for retirement income as a nation. The debate has recently been dominated by a narrow focus on age of eligibility issues for New Zealand Superannuation. Public debate on the best mix of public and private savings has been stifled by criticism of “privatisation” of superannuation.

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Covered bonds a welcome funding tool

17.08.2012

Covered bonds have generated some controversy recently. It was even to the point of being compared to prostitution law reform on the basis that it’s happening here so should be regulated. Where else are covered bonds being issued and are they right for New Zealand?

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Bank fees get the balance right

12.08.2012

The move to separating out fees for particular services was seen by the government and regulators as more transparent. It was also seen as striking a better balance between costs being met where they fall, as opposed to subsidisation.

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Why have a Code of Banking Practice?

05.08.2012

We encourage everyone with a bank relationship to be aware of the Code of Banking Practice. It’s available on the NZBA and bank websites, and in bank branches. So what is the Code, and how can it help you?

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NZ banks different from the rest

08.07.2012

Response to Matt McCarten.

The difference between New Zealand banks and US and European banks could not be more stark. Our banks have served us well through the economic recovery, and continue to do so. None failed and none were bailed out.

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Depositors forgotten in mortgage debate

07.06.2012

Cuts in mortgage rates have kept editors busy using emotive terms such as "frenzy" and "war" to describe the intensification of competition in the mortgage market.

What's missing from this debate is the fact that only 31 per cent of New Zealand households have a mortgage, according to Statistics NZ.

View original article
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Measures on loan sharks welcomed

12.04.2012

There has been plenty of anecdotal evidence about the activity of loan sharks and the effect that their predatory behaviour has on vulnerable borrowers. Last year the then Minister of Consumer Affairs, Hon Simon Power, held a financial summit to flesh out the key issues and look at what the government could do to provide further protection for consumers.

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The state of banking in New Zealand

27.02.2012

PwC recently released its analysis of New Zealand’s major banks’ performance for the second half of their 2011 financial years. The report found that our banks had performed very well despite global uncertainties.

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Banking Banana Skins

02.02.2012

This week the Banking Banana Skins report was released. Produced by the London-based Centre for the Study of Financial Innovation in association with PricewaterhouseCoopers, it included the results of a global banking industry survey. The survey has run for 13 years and for the first time included a New Zealand supplement. 710 bankers, regulators and observers in 58 countries were polled in November and December 2011. New Zealand was well represented with 22 respondents.

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What will 2012 bring?

27.01.2012

The New Zealand Bankers' Association is now in its 121st year. It’s already shaping up to be a busy one for us. We will continue working with our members to provide an industry voice and promote policy outcomes which contribute to a safe and successful banking system that benefits New Zealanders and the New Zealand economy.

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Standard & Poor's rating review

05.12.2011

The overall review by S&P has resulted in a minor adjustment in bank credit ratings here. What this outcome suggests is that the banking system in New Zealand is in good shape, remains strong, and is well capitalised and regulated.

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Washington’s tax offensive

07.10.2011

In light of the United States debt crisis that played out in Washington DC this year, it’s not surprising that the US Internal Revenue Service is trying to clamp down on tax abuse.

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The skinny on bank profits and margins

28.09.2011

I was concerned to see recent commentary that bank profits are up due to an increase in the banks’ net interest margin. 

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