Bank margins to remain under pressure as mortgage market stays competitive, BNZ's Healy says

Thu, 27 Oct 2016

By Paul McBeth Oct. 27 (BusinessDesk) - A moderation in New Zealand property prices is unlikely to ease up the pressure on lenders' margins as banks continue to compete for customers in a country enjoying strong inbound migration, a robust labour market and low interest rates, Bank of New Zealand boss Anthony Healy says. The local unit of National Australia Bank reported a 3.4 percent decline in cash earnings to $933 million in the 12 months ended Sept. 30, with a relatively flat performance from its dominant banking unit as net interest...

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