News

Banks scrap sales incentives

New Zealand's banks have committed to ending sales incentives for frontline staff and their managers following pressure from regulators.


Reserve Bank orders ANZ reviews

The Reserve Bank has ordered two independent reviews into ANZ New Zealand "to provide assurance it is operating in a prudent manner".

OCR Preview: Economists predict rates will hold

Economists say the Reserve Bank will keep the Official Cash Rate on hold next week, despite mounting global uncertainty and weak growth in New Zealand.

Resimac takes over data entry for advisers

Non-bank Resimac is taking over data entry for home loan applications to make the process more simple for advisers.

Bank of mum and dad backing first home market: Westpac

More than half of Kiwi parents would give their children an interest-free loan to help them onto the property ladder, according to a survey from Westpac.

Hisco departs ANZ after expenses review

ANZ has confirmed the departure of New Zealand CEO David Hisco following an internal review into his personal expenses.

Servicing tests to slow house price growth

Tough serviceability tests from the banks will keep house price growth at "gradual" levels across the country, according to research firm CoreLogic.

More stories
  • Prospa raises more than $100 million

    SME lender Prospa, led in New Zealand by former Resimac general manager Adrienne Church, has completed a stock market listing in Australia, raising more than $100 million.

  • Resimac slashes rates again

    Non-bank lender Resimac has made significant cuts to its two and three year mortgage rates, as home loans become cheaper across the New Zealand market.

  • SBS changes its broker model

    SBS Bank is changing the way it distributes home loans through advisers which will see it slash the number of brokers it deals with.

  • Customers sceptical about bank advice

    Only 27% of New Zealanders view their bank as a place to get good financial advice, according to new survey from price comparison site Canstar.

  • TSB sees mortgage growth

    TBS Bank believes more customers "want to choose an NZ-owned bank" after it recorded home lending growth of 2.9% in the three months to March.

  • ANZ chair Key faces calls to resign

    ANZ New Zealand chairman and former prime minister Sir John Key is facing calls to resign after the lender was censured by the Reserve Bank.

  • Golden rates age set to last

    There’s no need to worry about interest rates in connection to mortgage debt for the next few years, according to Kiwibank’s chief economist.

  • Commerce Commission investigates BNZ

    The Commerce Commission has launched an investigation into BNZ over the bank's compliance with the Credit Contracts and Consumer Finance Act.