Banks have lent only $23m of the govt's $6.25b business lending scheme

Banks have lent only $23m of the govt's $6.25b business lending scheme
Jenny Ruth
New figures from the New Zealand Bankers' Association show why Finance Minister Grant Robertson has appeared frustrated about the lack of lending under the government's $6.25 billion business finance guarantee scheme. NZBA said only 174 loans worth a total of $23 million have been lent by banks under the scheme to date. The organisation said BFGS loan applications take about 10 working days to process and that most of the loans approved so far were approved using the initial eligibility conditions. Last Friday, the Treasury changed tho...

More Finance

FMA to oversee ‘regulatory sandbox’ for fintechs
Finance

FMA to oversee ‘regulatory sandbox’ for fintechs

The initiative aims to speed up financial services innovation and regulation in NZ.

Ben Moore 12 Dec 2024
Todd Corp: what went wrong?
Finance

Todd Corp: what went wrong?

A dividend freeze as the family empire rebuilds for the future.

Pattrick Smellie 12 Dec 2024
BNZ defends profit as essential to attract capital
Finance

BNZ defends profit as essential to attract capital

The last major bank, BNZ, has fronted up to Parliament.

RBA’s policy shift brings February cut into focus
Finance

RBA’s policy shift brings February cut into focus

The central bank’s assessment reflected growing confidence that inflation is being tamed.