Finance

ASB wants less dairy debt, pushes repayments

Jenny Ruth
Thu, 13 Feb 2020

ASB wants less dairy debt, pushes repayments
Jenny Ruth
Thu, 13 Feb 2020
ASB Bank is actively reducing its exposure to dairy lending by "definitely encouraging" borrowers to take advantage of high commodity prices and low interest rates to pay down debt, chief executive Vittoria Shortt said.The latest results from its parent bank, Commonwealth Bank of Australia, show the group's New Zealand dairy book fell to A$7.3 billion at Dec. 31 from A$7.7 billion a year earlier."When we've got record commodity prices, you typically see farmers paying down debt," Shortt said."We've stood by our customers when they've gone throu...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Law & Regulation
Juice magnate Lepionka sues lawyers for 'negligent' advice
Greg Hurrell | Tue, 05 Jul 2022

Businessman Stefan Lepionka's negligence case against Gibson Sheat will be split in two, with the law firm's countersuit to be heard first, the high court has ruled.

Property
George Kerr's Pyne Gould receivership continues
Victoria Young | Tue, 05 Jul 2022

Court action continues in the UK, while receivers have already clawed back $8m for the BNZ by selling South Island land.

Opinion
Don’t cut off Māori landowners’ forest options
Te Kapunga Dewes | Tue, 05 Jul 2022

Well-intentioned academic and environmental critics of exotic forest planting are standing in the way of one of the few economic opportunities available for the use of marginal Māori land.

Sponsored
How can Kiwi small business owners manage rising inflation?

Xero MD Craig Hudson says small businesses have been hit with a triple whammy.

Sponsored
Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges