BNZ cuts dairy lending by almost $1 billion

BNZ cuts dairy lending by almost $1 billion
Jenny Ruth
Bank of New Zealand has lightened its lending to the agricultural sector by about $1 billion in the past year and just about all of that fall has been in dairy lending.The bank's agricultural portfolio fell to $14.9 billion at Sept. 30 from $15.9 billion a year earlier, with the proportion lent to the dairy sector dropping to 48 percent this year from 51 percent last year.BNZ chief financial officer Peter MacGillivray noted dairy and other commodity prices have held up well through the coronavirus crisis and dairy farmers have been paying d...

More Finance

Payments NZ could play key role in open banking standards
Finance

Payments NZ could play key role in open banking standards

A draft decision proposes an 18-month approval, rather than the five years requested.

Ben Moore 01 Jul 2024
Singapore becomes hot spot for M&A bankers hunting Asia deals
Finance

Singapore becomes hot spot for M&A bankers hunting Asia deals

The island is a magnet for parties interested in mergers and acquisitions.

Bloomberg 28 Jun 2024
Medicine working but business confidence continues to fall
Finance

Medicine working but business confidence continues to fall

Confidence in retail and construction rose, while other sectors were more downbeat.

Tom Raynel 27 Jun 2024
Shareholders association opposes Geneva Finance delisting
Finance

Shareholders association opposes Geneva Finance delisting

Company says it will exceed USX governance rules.

Jem Traylen 26 Jun 2024