S&P sees much lower covid-related losses for NZ banks

Thu, 15 Apr 2021

International ratings agency Standard & Poor's said the downside risks to New Zealand's financial institutions are receding and the outlook is now stable, reflecting the NZ economy's faster recovery from the covid pandemic than most advanced economies."We expect that NZ financial institutions' credit losses in the next two years will remain relatively low at about 0.3% of gross loans and advances," S&P said."Economic imbalances remain elevated due to rising house prices, but we expect that regulatory inter...

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