Media

Here you’ll find our media releases and opinions about banking in New Zealand, along with our media appearances.

Media Appearances Media Releases Opinions

Stuff - Banks told: Don’t charge interest on mortgage holidays

April 2, 2020 - “Last week we announced that New Zealand’s retail banks are offering mortgage repayment deferrals. That represents immediate financial relief for many customers. Banks do not profit from this. In fact, they cover the cost of providing that credit for the period of the deferred payments.”

Media Releases

$6.25 billion in new lending available to Covid-19 affected businesses

April 1, 2020 - New Zealand’s banks are offering up to a total of $6.25 billion in guaranteed loans to businesses financially impacted by Covid-19. Eligible businesses can apply to their bank for new lending under the scheme from today. “Businesses are at the heart of our economy and we know many are doing it tough as a result... Read more »

Media Appearances

NZ Herald - Nine banks to start lending govt-backed $6.25b for business immediately

April 1, 2020 - “Banks will follow their normal credit assessment processes to see if businesses qualify for the scheme and will take into account the circumstances businesses find themselves in due to covid-19.”

Media Appearances

Interest.co.nz - More detail unveiled on which businesses are be eligible for an 80% taxpayer-backed bank loan to get them through the COVID-19 crisis

April 1, 2020 - New Zealand Bankers’ Association CEO Roger Beaumont said banks’ credit assessments typically take 10 working days.

Media Appearances

Stuff - Applications open for $6.25 billion of loans to struggling businesses

April 1, 2020 - “Businesses are at the heart of our economy and we know many are doing it tough as a result of Covid-19,” said Beaumont.

Media Appearances

NZ Herald - Covid 19 coronavirus: Banks report 10,000 plus Kiwis seeking six month home-loan holiday

March 30, 2020 - Roger Beaumont, New Zealand Bankers’ Association chief executive, last week urged people to go online for information first after bank call centres were jammed with people calling through only to find long wait times.

Media Appearances

Good Returns - Banks roll out mortgage holidays

March 30, 2020 - Roger Beaumont, chief executive of the New Zealand Bankers’ Association, said: “While there are obvious advantages for people in need, repayment deferrals may extend the time it takes to repay the loan and will add interest cost

Media Appearances

NZ Adviser - Banks launch mortgage holidays, but they “may not be for everyone”

March 30, 2020 - Bankers Association chief executive Roger Beaumont warned anyone thinking of taking the mortgage holiday to carefully consider its costs, as interest would still accrue over the six months.

Media Releases

Banks offer six month mortgage repayment deferrals

March 27, 2020 - New Zealand’s retail banks are offering to defer repayments for all residential mortgages for up to six months for customers financially affected by Covid-19. “We know that some customers are already being financially impacted by Covid-19 and have an immediate need. That’s why the banking industry as a whole is stepping up with this further... Read more »

Media Appearances

TVNZ - Banks confirm six-month mortgage payment deferral due to coronavirus – but interest still accrues

March 27, 2020 - “Banks will have different approaches to how they manage the process for customers to opt into a mortgage deferral – those details, including eligibility criteria, will be available on bank websites.”