Businesses', banks' views on credit availability diverge

Businesses', banks' views on credit availability diverge
BusinessNZ CEO Kirk Hope said the messages from businesses are mixed. (Image: supplied)
Jenny Ruth
While the Reserve Bank has exhorted banks to support the economic recovery, businesses have been reporting credit has become increasingly difficult to access.However, banks have been telling the Reserve Bank of New Zealand (RBNZ) their willingness to lend to larger corporates is greater than those businesses' appetite to borrow.Despite that, businesses' investment intentions are higher now than before the covid pandemic began.BusinessNZ chief executive Kirk Hope said all of this may be true because the broader numbers are masking wide d...

More Finance

ANZ vows to fight CCCFA class action despite ASB settlement
Finance

ANZ vows to fight CCCFA class action despite ASB settlement

“ANZ NZ will continue to defend its case. Our position hasn’t changed.” 

ASB settles CCCFA class action for hefty $135.6m
Finance

ASB settles CCCFA class action for hefty $135.6m

 It ended a four-year class action centred on disclosure obligations.

Andy Macdonald 07 Oct 2025
ASB pays $135.6m to settle long-running CCCFA class action
Finance

ASB pays $135.6m to settle long-running CCCFA class action

High-street lender ASB has agreed to pay $135.6 million to settle a class action brought against it for alleged breaches of the Credit Contracts and Consumer Finance Act (CCCFA).The settlement – without admission of liability or wrongdoing – concluded four years of legal proceedi...

Staff reporters 07 Oct 2025