Bank margins improve despite tough outlook

(Image: Getty)

Wed, 13 Mar 2024

New Zealand’s four largest trading banks and state-owned competitor, Kiwibank, all improved their net interest margins in calendar 2023, despite the latest KPMG survey of the sector finding a more pessimistic outlook.Net interest margins (Nims) for the sector at December last year stood at an average of 2.34%, an improvement on the 2.1% average recorded in 2022 across all 20 registered banks included in the regular Financial Institutions Performance Survey (FIPS).Nims are a fundamental indicator of bank profitability, and NZ Nims are cons...

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