Business lending ‘incredibly competitive’, says BNZ chief

CEO Dan Huggins says the bank has been really active in the market. (Image: BNZ)

Fri, 10 Nov 2023

Bank of New Zealand’s business loan book stayed relatively flat in the September year as the market remained “incredibly competitive” and as firms dialled back some of the support they needed through the pandemic. The local unit of National Australia Bank maintained its market share of business lending at 22.4% and lifted its agribusiness to 21.5% of the market from 21.4% a year earlier, with its business lending book of $43.9 billion as at Sept 30, down a touch from $44b a year earlier. BNZ's chief executive, Dan Hug...

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