- Bank lobby group, the New Zealand Banker’s Association (NZBA), says cuts in fixed interest rates highlight the level of “intense competition” in the New Zealand banking sector.
- Recent cuts in fixed interest rates highlight the level of intense competition in the New Zealand banking sector. This is good news for borrowers, but will impact on returns for bank depositors. Interest rates are at historically low levels. This is due to a drop in wholesale interest rates as a result of ongoing uncertainty... Read more »
- Kirk Hope, CEO of bank lobby group the New Zealand Banker’s Association, said it was positive the timeframe for OBR’s implementation had been pushed back but it was still too tight.
- New Zealand Bankers Association CEO Kirk Hope told interest.co.nz that there was a high level of competition between New Zealand banks. Banks in New Zealand also contributed around NZ$6 billion to the economy each year via their own operating expenses – mostly wages to over 25,000 employees – and taxes paid in New Zealand.
- New Zealand financial institutions are fighting a United States tax that threatens to saddle them with millions of dollars in regulation costs and could end up costing Kiwi consumers. Outright opposition was not an option because non-compliant institutions would be slapped with hefty withholding penalties. It was “a very likely outcome” that those increased regulatory costs... Read more »
- “Banks are certainly standing behind their customers,” says Kirk Hope of the New Zealand Bankers Association. “No customers will be adversely affected as a result of this payments issue.”
- The New Zealand Bankers’ Association today welcomed KPMG’s annual Financial Institutions Performance Survey (FIPS). In its 25th year, the 2011 survey shows New Zealand has a strong, stable and highly competitive banking sector that continues to serve New Zealand businesses and consumers very well in a globally uncertain environment. “Our banks are well placed to... Read more »
- Loan shark regulators should open shops in at-risk areas to deter dodgy lending and give borrowers easier access to official help, says a banking leader. Bankers’ Association chief executive Kirk Hope said opening a shopfront would help regulators enforce the rules against predatory lenders in areas where they were concentrated.
- The new chief executive of the New Zealand Bankers’ Association says banks need more policy detail and more justification from the Reserve Bank on its plans to implement new global capital adequacy requirements for local banks ahead of the timetable set by the international regulatory overseer.
- With heightened awareness around recent card fraud, the New Zealand Bankers’ Association has issued a reminder to check bank statements regularly. “We can all help in the fight against fraud by keeping an eye on our bank accounts. If you identify an unauthorised transaction, contact your bank immediately,” said New Zealand Bankers’ Association chief executive... Read more »
