Banking minnows step up residential property development lending

Wed, 29 Nov 2017

By Paul McBeth Nov. 30 (BusinessDesk) - New Zealand's second tier of licensed banks have ramped up their lending to residential property developers at a time the dominant players have adopted a more cautious approach to the sector. The Reserve Bank's latest six-monthly financial stability report shows the nation's system is still in good health, due largely to the dominance of the four Australian-owned banks whose profitability allows them to conserve enough capital to provide a buffer in the event of a severe downturn. However, the majo...

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