APRA feared RBNZ action on Westpac

Australian regulators did not want the Reserve Bank of New Zealand to take action on a subsidiary in New Zealand because this could hurt the value of the parent. The revelation was made by RBNZ gove.. read more

ANZ's asset quality among the worst in NZ

ANZ National's asset quality has worsened the most this year compared with its peers - Westpac, ASB and Bank of New Zealand, due to rising impairments in its corporate exposures. read more

RBNZ to hold cash rate steady

After a reluctant rate hike at the last cash rate meeting, the Reserve Bank of New Zealand will likely keep the cash rate unchanged on Thursday as it downgrades near-term growth forecasts and also i.. read more

Hisco shifts to ANZ National

ANZ National appointed David Hisco as chief executive officer to replace Jenny Fagg, who stepped down to undergo treatment for cancer. read more

Major bank insurance exposures minimal

Exposure to costs associated with the Canterbury earthquake may be very limited for the four major banks in New Zealand as third parties underwrite most of their business and general insurance produ.. read more

ASB close to selling Aegis

ASB Bank is in advanced talks with Pyne Gould Corp to sell its subsidiary, Aegis, a provider of portfolio administration and reporting services. read more

Kiwibank chooses new CEO from within

The culture at Kiwibank is set to remain intact as outgoing chief executive Sam Knowles hands the baton to a person who, like him, was part of the original team that created Kiwibank. read more