- New Zealand Bankers’ Association chief executive Karen Scott-Howman said a recent report found New Zealand led the world in digital banking uptake. More than 80 per cent of New Zealanders now prefer to manage their money online.
- Switching may be relatively low because New Zealanders rate their banks highly. This was reflected in Consumer NZ’s banking satisfaction survey last year, which found that 86 per cent of customers were satisfied with their bank.
- The government’s prudent financial management provides a solid grounding for the New Zealand economy, households and businesses, says the New Zealand Bankers’ Association today in response to Budget 2017.
- New Zealand Bankers’ Association chief executive Karen Scott-Howman confirmed banks had been approached by the Wellington group, and said: “We’re happy to discuss this, and will put them in touch with our member banks.”
- The New Zealand Bankers’ Association chief executive Karen Scott-Howman says: “Under the law banks do not de-risk whole classes of customers. Instead, they apply their obligations under the AML/CFT regime on a case by case basis.
- New Zealand banks operate in a different environment from those in Australia. Here we have strong and independent regulators, a very competitive banking sector and high levels of customer satisfaction.
- New Zealand Bankers’ Association chief executive Karen Scott-Howman said the way people banked had “changed hugely” in recent years. She said “only a fraction” of banking transactions were done in branches these days. “This means some branches no longer make commercial sense.”
- Banks are responsible lenders and take into account a number of factors when making lending decisions. That includes testing affordability at higher interest rates and factoring in realistic essential expenditure.
- Lending decisions on any property are made on a case by case basis. It’s quite possible that in time banks would require more equity or shorter term mortgages when considering lending on potentially affected coastal properties.
