Dairy risk in S&P's dimmer view of BNZ's capital position?

Fri, 15 May 2020

Standard & Poor's has singled out Bank of New Zealand as being in a worse capital position than the other three major banks and even compared with two smaller banks, Kiwibank and Rabobank NZ.The international ratings agency said BNZ's capital position was "adequate" but rated those of ANZ, ASB Bank, Westpac, Kiwibank and Rabobank as "strong." Massey University banking professor David Tripe said he suspected S&P's view might reflect BNZ's over-exposure to dairy farm lending, particularly in Canter...

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