Author: Philip vanDyk

“The industry would welcome the opportunity to discuss bank profits and the contribution banks make to support the New Zealand economy, households and businesses,” Beaumont said at the time.

Beaumont said NZ’s banks were profitable, well-regulated and resilient, and that was important in the current economic climate.

Credit bureau Centrix’s latest data indicated mortgage arrears rose for the seventh consecutive month, with just under 19,000 people behind on repayments, which equated to 1.3 percent of mortgages, while the Bankers Association reported nearly 45 percent of mortgage holders were ahead on their repayments at the end of 2022.

The New Zealand Banking Association submitted in 2019 that gambling providers and their customers could also circumvent that measure, for example by accepting and making deposits using other international payment services such as PayPal, WeChat and AliPay.

“Due to a range of issues, primarily low seismic building ratings that would put staff and customers at risk in case of an earthquake, we have not been able to secure a suitable location.”

“Our banks are part of the communities they serve and responded quickly as the flooding and cyclone events unfolded, making $1.4 billion available in low-cost lending, and donating $6.5 million to disaster relief funds. They also provided loan repayment relief and access to term deposits.”

The new hub in Whangamatā will be located in a stand-alone location and have a multi-bank Smart ATM and a coin and note change service. A concierge will be available to assist customers access the services, which include an ATM, tablet for online banking, and phone. These services will be available in private areas to… Read more »