Media Appearances
Media
Here you’ll find our media releases and opinions about banking in New Zealand, along with our media appearances.
Media Appearances
NZ Herald - Slow up-take up on Govt-backed business loan scheme: just $23 million lent out of potential $6.25 billion
- “Because it was paid upfront the wage subsidy has meant that many businesses have not yet had the need to look for other assistance. Many businesses needing a loan so far have, for example, opted to quickly roll over short-term funding or extend overdrafts already in place with their bank.”
Media Appearances
Newshub - ‘Strict criteria’ stops banks from helping businesses under government-backed scheme
- “There were quite strict criteria around who was eligible for the [Finance Guarantee] scheme.” He said banks had loaned an extra $7.2 billion outside the scheme, through other financing options.
Media Appearances
Business Desk - Govt’s $6.25b business guarantee better for later lending: banks
- “In our view, the scheme supports longer-term lending. Businesses are more likely to be confident of applying for loans under the scheme only once they have formed a clearer view of their longer-term prospects and needs,” NZBA chief executive Roger Beaumont said.
Media Appearances
Stuff - Coronavirus: Billion-dollar-profit banks must show they care about NZ in bad times, Shane Jones says
- “So far, many businesses needing a loan have, for example, opted to quickly roll over short term funding or extend overdrafts already in place with their bank.”
Media Appearances
RNZ - Banks defend Covid-19 response after criticism they aren’t doing enough
- “Since we went into lockdown on 26 March our banks have lent $9.6 billion to over 41,000 personal and business customers. This includes $6.4b in new lending to business, which is separate from the government’s shared risk Business Finance Guarantee Scheme that has a lending limit of $6.25b.
Media Appearances
Stuff - Government offers small firms zero and low-interest loans up to $100,000
- The Bankers Association responded to Robertson’s comment that banks had not met the lending expectations of the Government by saying banks had lent $6.1b to businesses since the country went into lockdown on March 26.
Media Appearances
Interest.co.nz - Government broadens Business Finance Guarantee Scheme substantially to include both agri and very small businesses; Also allows banks to write unsecured loans should they choose to do so
- “For immediate business needs, banks have lent $6.1 billion to businesses since we went into lockdown on 26 March. That’s lending outside the Business Finance Guarantee Scheme. And it’s almost as much as the total lending limit under the scheme.”
Media Appearances
Newsroom - Government loan scheme leaves ‘awkward middle’
- New Zealand Bankers Association (NZBA) chief executive Roger Beaumont said industry feedback had led to the changes and he welcomed Treasury simplifying some rules.
Media Appearances