Author: Philip vanDyk

“Since March banks have been working proactively with customers who were financially impacted by Covid-19. Banks will continue to work with affected customers, including the relatively few who still have fully deferred loans.”

New Zealand Bankers’ Association chief executive Roger Beaumont said interest rates were at historic lows. “That’s good news for households and businesses looking to borrow. The flip side is that investors, including people who rely on interest income, get a lower rate of return on bank deposits.”

FIRST Union supports the trial of banking hubs in four New Zealand regions as the country seeks to maintain face-to-face services amid the COVID-19 pandemic, retain jobs in banking, and ensure that rural areas don’t lose vital infrastructure.

ANZ, ASB, BNZ, Kiwibank, TSB, and Westpac are all taking part in the year-long trial being coordinated by industry body the Bankers’ Association.

“I am delighted to see that this unique partnership of six banks looking at innovative ways to support smaller communities is ready to go,” said Roger Beaumont, the chief executive of the New Zealand Bankers’ Association.

The New Zealand Bankers Association announced  that a new banking hub will open on December 3 in the John’s Stoke Pharmacy building at Putaitai St.

Banks will start a trial of shared regional banking hubs in November, using an old ANZ branch, a library, a community centre and a pharmacy.