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South Canterbury Finance has been granted an extension to the waiver of breach of one of its Trust deed clauses for a further period of three months after the company failed to get the equity requir.. read more

TSB Bank's pre-tax profit grew 21 per cent in the year ended March 2010 but that was thanks to a huge one-off gain from derivatives purchased several years ago.  The gain came about due to the.. read more

The first major consolidation in the New Zealand finance company sector is paving the way for a NZ-owned and listed bank. Pyne Gould Corp, one of the largest finance companies in New Zealand, announ.. read more

South Canterbury Finance's rating downgrade last week, less than two months after it was granted an extension of New Zealand government guarantee, raises question on whether the extension was approv.. read more

A company associated with St Laurence - Direct Property Investments No 6 - may be facing the prospect of receivership after failing to repay bond investors NZ$9.5 million in February. The company is.. read more

Kiwibank chief executive Sam Knowles yesterday announced his resignation from the bank he helped to establish eight years ago but left one wondering if it was pure coincidence that the announcement.. read more

The worst of the impairment cycle appears to be behind South Canterbury Finance as the company booked just NZ$1.7 million of impairment losses during the recent March quarter, sharply down from NZ$1.. read more

ASB Bank warded off the negative impact on margins from rising deposit rates by maintaining a funding mix that relies significantly on money market deposits. read more

The Reserve Bank of New Zealand is encouraging banks to seek covered bonds as a source of funding and is developing a policy on this option. read more

The Reserve Bank of New Zealand is planning to reduce compliance burdens for banks and is currently reviewing the disclosure norms. read more