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Bank workers' union Finsec's four days of bargaining for a new collective agreement with Westpac New Zealand was adjourned with the bank refusing to offer any pay rise. read more

Nearly 18 months after ceasing to write new retail and wholesale loans, GMAC NZ sold its retail motor vehicle financing book to MARAC Finance. read more

The Reserve Bank of New Zealand signalled it may consider re-introducing or delaying liquidity support measures amid the volatility in global markets. read more

Westpac New Zealand is seeking a two-year term for the new collective agreement with union Finsec with negotiated pay increases for each year of the two years. The bank says this will help it to pla.. read more

Rabobank New Zealand's profit rebounded in the March 2010 quarter thanks to a miniscule amount of provisions for impairment losses. The bank reported profit after tax of NZ$20.9 million, which compa.. read more

New Zealand finance companies face stricter norms from December 1 after the government passed regulations that make it mandatory for them to hold a minimum level of capital and put a maximum limit o.. read more

In an expected but unfavourable development, Standard & Poor's yesterday downgraded the rating of South Canterbury Finance, adding another obstacle in the path of survival. read more

The driver of the downgrade in the credit rating of South Canterbury Finance is the appointment of outside managers to control the business affairs of the firm's founder, and until recently "preside.. read more

ANZ National will be out of pocket by NZ$45 million after the bank and ING NZ reached a record settlement with the Commerce Commission over two "income funds" managed by its wealth arm ING. read more

South Canterbury Finance will take a fresh look at provisions as of June 30, and while CEO Sandy Maier is confident that additional provisions, if any, may be very low, he is also conscious of the f.. read more