Viaduct loses guarantee

Treasury announced late yesterday it had withdrawn the government guarantee from Auckland-based property financier Viaduct Capital. Treasury said the New Zealand government had withdrawn the guarantee.. read more

Bollard cautions banks on business rates

Alan Bollard, governor of the Reserve bank of New Zealand, again called on banks to pass on cuts in wholesale interest rates to customers, saying they had profited from the good times and should not s.. read more

Westpac waives insurance for NZF Mortgages

Finance company group NZF announced to the NZX that Westpac gave it a 60-day waiver for a breach in the requirements for NZF Mortgage's NZ$200 million lending facility with Westpac. The breach followe.. read more

Institutional lifts BNZ profits

Bank of New Zealand reported a rise of 43 per cent in pre-tax profit to NZ$369 million for the December 2008 quarter over the same quarter a year ago, largely due to a tripling of profit from its BNZ.. read more

Bollard reads riot act to banks and business

Reserve Bank of New Zealand governor Alan Bollard has sent an unusually strong message to banks, local government and electricity companies that they should help the economy recover by lowering profit.. read more

20pc deposits required by ANZ National

New Zealand's largest banking group, ANZ National, announced a tightening of its lending criteria for home loans, citing "the increasingly complex financial environment and the continued softening of.. read more

St Laurence wants to trade on and on and on

St Laurence this week released details of its repayment and restructure plan that includes the prospect of capital notes holders not being fully repaid until 2034, while debenture holders would not be.. read more

Podmore gives and takes

One curious aspect of St Laurence's planned recapitalisation and extended repayment plan (stretching over 13 years) is buried in the body of the 112 page plan dispatched to investors this week. The Ne.. read more