Author: Philip vanDyk

“There’s a recognition it’s in everyone’s best interest for a farmer to have up-to-date business and financial plans,” said New Zealand Bankers’ Association chief executive Roger Beaumont. 

New Zealand Bankers’ Association chief executive Roger Beaumont said banks worked closely with farming customers and that was reflected in the low number of mortgagee sales in the sector. There were about 52,000 farms in New Zealand and fewer than 10 farm mortgagee sales a year, he said.

A New Zealand Bankers’ Association spokesperson said banks were constantly responding to customer preferences but they weren’t seeing “that kind of demand” for sharia-compliant loans.

New Zealand Bankers’ Association chief executive Roger Beaumont said banks were already working hard to implement the recommendations of the Reserve Bank and Financial Markets Authority’s review of bank conduct and culture.

The New Zealand banking industry is living in interesting times. In 2019 the three C’s – conduct, culture and capital – dominated our landscape. Where have we got to and what’s coming up?

The move surprised the NZ Bankers’ Association, which has been working on its own industry-wide scheme to provide an independent alternative to the banks’ current whistleblowing services.