- Analysis released today shows New Zealand’s major banks continue to perform well in the face of increased operating costs and greater regulatory pressures. The findings were contained in PwC’s Banking Perspectives report of the five major banks’ banks’ results for the second half of their 2012 financial years. “The report shows our banks are among... Read more »
- Mortgagee sales continue to decline according to Terralink data for the September quarter released today. There were 516 mortgagee sales in the three months from July to September this year, down 15 per cent from the June quarter. Of the 1.4 million residential mortgages in New Zealand, there were 2265 mortgagee sales in 2011. Mortgagee... Read more »
- In the lead-up to Christmas the New Zealand Bankers’ Association has reminded people how to avoid fraud and scams over the holiday season. “This is a special time of the year to share with family and friends. Whether we’re shopping or away on holiday, it pays to take care. We all have an important role... Read more »
- Never give anyone your PIN or internet banking username or password said the New Zealand Bankers’ Association as we head into the summer holidays “Your bank will never ask you for this confidential information,” said New Zealand Bankers’ Association chief executive Kirk Hope. “You should never disclose passwords and other security information to anyone. If... Read more »
- All retail banks are offering interest-free overdrafts to teachers and other school staff affected by the Novopay payroll system issues from now until 15 January 2013. “Banks across the board are supporting their customers here. This issue affects the largest single payroll in the country. It’s about helping ensure affected teachers and staff continue to... Read more »
- The New Zealand Bankers’ Association today released long run bank profitability data which compares returns on equity for New Zealand banks against NZX listed companies. Independent analysis undertaken by Massey University showed that retail banks’ average return on equity over the last five years fell in the middle of the range compared to NZX listed... Read more »
- The Reserve Bank’s latest Financial Stability Report issued today has confirmed that banks are supporting New Zealand’s financial outlook in the face of ongoing global economic challenges. “Well-regulated strong banks are part of New Zealand’s current success compared to other countries,” says New Zealand Bankers’ Association chief executive Kirk Hope. The report identified a number... Read more »
- The New Zealand Bankers’ Association today applauded the government’s decision to seek an inter-governmental agreement between New Zealand and the United States which will help financial institutions comply with new US tax reporting requirements. The Foreign Account Tax Compliance Act, also known as FATCA, is designed to ensure US citizens resident in other countries meet... Read more »
- KPMG’s Financial Institutions Performance Survey (FIPS) report for the quarter to 30 June 2012 confirms that New Zealand banks are well placed to meet ongoing challenges. Those challenges to the banking sector, and the wider New Zealand economy, include the continuing European debt crisis and a slowdown in the Australian economy, our largest trading partner.... Read more »
- By rewriting the law, the Financial Markets Authority (FMA) is doing consumers a disservice says the New Zealand Bankers’ Association. Following the release of the FMA’s guidance note on the sale and distribution of KiwiSaver, Bankers’ Association chief executive Kirk Hope expressed serious concerns. “This is bad for consumers because it limits access to information... Read more »
