NZ bank margins at nine-year high in 2015 as property, agri boost lending income

Tue, 23 Feb 2016

By Paul McBeth Feb. 24 (BusinessDesk) - New Zealand's banks fattened their interest margins to the widest in nine years as property and agricultural lending bolstered their incomes, a trend that could continue this year as low interest rates keep a lid on funding costs. Banks registered with the Reserve Bank widened net interest margins an average of 4 basis points to 2.28 percent in 2015, the widest since 2006, according to KPMG's financial institutions performance survey (FIPS). Net interest income climbed 8.5 percent, outpacing the 7....

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