China’s banking heavyweight registered as bank in NZ

Staff reporters
Mon, 18 May 2020

The Reserve Bank today announced that it has registered the Industrial and Commercial Bank of China to provide banking services in New Zealand.ICBC is incorporated in China and will operate in New Zealand as a branch, the RBNZ said. According to S&P Global, ICBC has about $4.3 trillion of assets under management, making it the world's largest bank. An NZ subsidiary of ICBC has been registered to provide banking services in New Zealand since November 2013.The branch is expected to expand and complement banking services provided...
Regulator sues ANZ over credit card insurance
Dan Brunskill | Fri, 05 Jun 2020

The Financial Markets Authority has filed High Court proceedings against ANZ Bank New Zealand, alleging it charged some customers for credit card repayment insurance policies that offered those custom...

MARKET OPEN: Profit taking may be the flavour of the day, US jobs data in focus
Rebecca Howard | Fri, 05 Jun 2020

Weaker offshore markets may spill over into New Zealand as investors look to lock in profits after several positive days. Wall Street is set to end its four-day rally ahead of the May non-farm payr...

Loss expected from NZ Steel on covid shutdown
Gavin Evans | Fri, 05 Jun 2020

BlueScope Steel’s New Zealand business could post its first half-yearly loss in four years on the back of the country’s strict covid-19 shutdown, Jarden analysts say. The New Zealand Steel and Paci...

Go local: Kiwi firms need your business to survive

Now, more than ever, Kiwis must support local businesses so they can keep Kiwis employed.

Telcos in lockdown, and beyond

Geoff Thorn, CEO, NZ Telecommunications Forum says modern connectivity was a major benefit during lockdown, so it’s important to ensure long term sustainability of the networks