RBNZ pauses rate cuts

The Reserve Bank of New Zealand has held its Official Cash Rate at 2.75 per cent as widely expected, pausing its sequence of three rate cuts in quick succession to "watch and wait." read more

Kiwibank fails anti-money laundering rules

The Reserve Bank of New Zealand has issued a formal warning to Kiwibank for failing to carry out full due diligence under rules aimed at countering money laundering and the financing of terrorism. read more

BNZ earnings fall in second half

National Australia Bank's New Zealand arm, BNZ, reported a 3.1 per cent fall in cash earnings between the first and second halves of the year as its net interest margin fell slightly and it was forced.. read more

Westpac NZ retains core of Government contract

Westpac New Zealand has retained the core of the NZ Government banking contract it has had for almost 30 years, but will have to share peripheral elements of the contract with National Australia Bank'.. read more

RBNZ expects to cut OCR again

The Reserve Bank of New Zealand cut its Official Cash Rate by a further 25 basis points to 2.75 per cent as universally expected and lowered its forecast for short term interest rates to imply one mor.. read more

NZ farmers say banks supportive

A survey by New Zealand's biggest rural lobby group, Federated Farmers, found only 6.6 per cent of dairy farmers felt under undue pressure from the their banks, despite most having to borrow heavily.. read more

Kiwibank pays first dividend

New Zealand's state-owned Kiwibank has reported a record high annual net profit of NZ$127 million and has paid its first annual dividend of NZ$22 million as it focuses on producing a return for its ow.. read more

RBNZ revising outsourcing policy for banks

The Reserve Bank of New Zealand has announced proposals for a new outsourcing policy for banks that it said would allow banks to pursue efficiency gains by outsourcing operations offshore, but also al.. read more

RBNZ softens new LVR rules

The Reserve Bank of New Zealand has slightly softened its proposals to restrict low-deposit mortgages for Auckland rental property investors and delayed the introduction of the new rules by one month.. read more