- The six banks participating in the Regional Banking Hubs trial are renewing their commitment to not close regional branches until the end of the year, when the trial concludes. The September 2019 announcement of the hubs pilot included a voluntary commitment to not close regional branches for the period of the trial. The full commitment... Read more »
- ANZ, ASB, BNZ, Kiwibank, TSB and Westpac announced today they would honour an earlier commitment not to shut any regional offices until a pilot of four small-town banking hubs wraps up.
- The New Zealand Bankers’ Association says borrowers whose repayments were deferred due to the COVID-19 pandemic and are still struggling, may get an additional temporary payment deferral, have the term of the loan extended to reduce repayments, or be moved to interest-only repayments for a period.
- New Zealand Bankers’ Association chief executive Roger Beaumont said: “Banks are working closely with the few affected customers who still need help to get back on track.”
- The loan repayment deferral scheme introduced a year ago to help borrowers financially affected by the Covid-19 pandemic ends today. The scheme allowed home and business loan repayments to be fully deferred temporarily. Deferrals were made possible by the Reserve Bank allowing these loans not to be viewed as in hardship. Credit reporting agencies also... Read more »
- “Banks make their own individual risk-based assessments on all lending applications on a case-by-case basis. This will take into account the risk and security of the asset.”
- The New Zealand Bankers’ Association and FinCap have today announced a new partnership, with the banking industry contributing $5 million over five years to support the financial wellbeing of all New Zealanders. The collaboration agreement will provide funding for initiatives that will directly benefit the 200 services FinCap supports who provide financial advice to tens... Read more »
- The banks themselves support the dashboard and whistle-blowing service, with both projects having the backing of bank lobby group the New Zealand Bankers’ Association, the Financial Markets Authority and the Reserve Bank.
- “During the Covid-19 lockdowns, banks helped thousands of New Zealanders get better at using online and mobile banking. Those customers aren’t looking back. However, we know that some customers still prefer face-to-face banking, and that’s what this banking hub trial is designed to test.”
