BNZ grapples with a squeeze on margins, rising dairy bad debts

Fri, 15 Nov 2019

Like the other major banks, Bank of New Zealand is grappling with a squeeze on margins, a squeeze that goes further than the small dip revealed in its results press release earlier this month.The reported 2-basis point decline in net interest margin to an average 2.25 percent for the year ended September was actually for all the NZ operations of its parent bank, National Australia Bank.The BNZ banking group itself saw its average NIM fall only a single basis point to 2.12 percent from year to year, but that disguised a significant shift between...

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