Author: Philip vanDyk

The NZBA figures show that there are 9.86 million unique banking customers. Of those, 9,267 customers applied for hardship status, up 1% from the period between July 2023 and December 2023. 5,968 customers were granted hardship status, up 6.9%.

The New Zealand Banking Association said banks have “dedicated hardship teams who can talk through available options”.

Banking Association chief executive Roger Beaumont said banks had responded to the minister in line with his February letter and were “discussing next steps”.

Hobbs said council had been working with the New Zealand Banking Association to see how they might be able to support people in negative equity, but it was case by case and homeowners should contact their bank to discuss options.

“Our banks know that some farmers are doing it tough in the current economic environment, so it made sense to fill the funding gap for the Farm Business Advice Fund, and to renew the annual sponsorship arrangement for the Rural Support Trust,” Beaumont said.

Earlier this year, NZ Banking Association chief executive Roger Beaumont urged telcos and social media platforms to take down fake websites.

Banks alone could not protect New Zealanders from scams and had asked the government for help, involving from police and other agencies, New Zealand Banking Association chief executive Roger Beaumont said.