- 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 »
- A recent survey has revealed that most people rate their bank highly, and that the banking sector in New Zealand rates well above other service sectors. “Banks put a huge effort into customer service and it’s great to see this reflected in the survey results,” says New Zealand Bankers’ Association chief executive Kirk Hope. The... Read more »
- The New Zealand Bankers’ Association welcomes the interim report of the Australian and New Zealand Productivity Commissions on closer economic relations and a single economic market, but notes that addressing the issue of double taxation of company income was an absolute ‘must do’. “The interim report usefully addresses many of the remaining barriers to a... Read more »
- As part of Money Week (2 – 8 September), the New Zealand Bankers’ Association is encouraging people to get financial advice on how best to manage their money. “Getting advice about your finances and how best to meet your needs and aspirations is a good idea for everyone. It’s about making informed decisions to manage... Read more »
- Money Week is a great time to spring clean your personal financial arrangements says the New Zealand Bankers’ Association. Money Week brings together a range of financial education activities from 2 to 8 September. “Most people think about their personal finances when faced with big life events such as studying, starting work, buying a house... Read more »
