Banks made $7.5b in new loans during lockdown

Mon, 20 Apr 2020

New Zealand's trading banks have provided businesses and consumers $7.5 billion in new loans since the country went into lockdown, with 13,559 business customers lent $5.5 billion and the balance going to 21,772 consumers.Another 13,549 business customers have moved to either interest-only or reduced-principal repayments and interest on $17.4 billion of existing loans with a further 3,053 businesses deferring all repayments on $1.6 billion of loans.Another 589 business customers have had $0.7 billion of loans restructured, banker-speak for...

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