Author: Philip vanDyk

“As an industry, we are working with the Reserve Bank on relevant recommendations such as lending on whenua Māori and basic bank accounts,” chief executive Roger Beaumont said.

“The technology build and integration of the new service differs across banks, so it’s unsurprising that each bank’s testing and delivery phase looks slightly different,” said association chief executive Roger Beaumont.

According to Beaumont, two overseas banks have announced in the past 18 months that they are exiting the retail market, which is a setback for competition.

New Zealand Banking Association chief executive Roger Beaumont said only 1.4% of home loan customers were behind on their repayments.