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Expectations of a cut in the Official Cash Rate by the Reserve Bank of New Zealand provided the much-needed trigger for banks to lower mortgage rates, following Kiwibank's attempts to stir activity.. read more

TSB Bank, a bank once wholly funded from deposits, made its first foray into the wholesale market during the last quarter by borrowing of NZ$40 million via wholesale term deposits. read more

ANZ New Zealand's profit for 2011 may be hit by around NZ$160 million as operating expenses rise to meet the cost of a management restructure and the move to a single banking platform. read more

The past week saw some kind of symmetry, perhaps even coordinated as part of a routine currency swap, as ANZ tapped the US private placement market, while Morgan Stanley issued bonds in the Australi.. read more

Westpac New Zealand has to arrange for NZ$3 billion of intra-group funding by the end of the 2011 calendar year - the deadline for the transfer of loans and deposits from the branch to its New Zeala.. read more

Kiwibank reported a dismal December 2010 quarter, with profit dropping to NZ$5.3 million, compared with NZ$8.7 million in the quarter to September 2010. read more

As early estimates of the extent of damage caused by the Christchurch earthquake start pouring in, economists believe a fiscal response from the Government may have to be supplemented by a rate cut.. read more

A full-fledged independent ATM network is set to become a reality in New Zealand after ANZ National agreed to allow its customers to access independent ATMs, says New Zealand ATM Services. read more

ASB may be the first major bank to re-open a branch near Christchurch city centre following the earthquake. The branch will offer essential services including ATM cards for those who lost them durin.. read more

New Zealand is still quantifying costs related to the September earthquake and is now expected to face a much larger bill as damage from yesterday's quake is expected to be far worse than from the f.. read more