BNZ main user of govt, RBNZ loan schemes

BNZ chief executive Angie Mentis said most customers have resumed normal payments.

Fri, 07 May 2021

Of the four major banks, the Bank of New Zealand (BNZ) has traditionally had the biggest focus on lending to business.Which goes some way to explaining why it has accessed the government's business finance guarantee scheme (BFGS) to a much greater degree than the others.Chief executive Angie Mentis said her bank has accessed its full share of the BFGS, lending $1.5 billion to more than 1,200 businesses.The BFGS, a programme introduced in April last year to try to cushion the impact of covid-19 on businesses, is set to expire on June 30.Trea...

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