NZ banks accelerate lending in June quarter as bad debt fears subside

Tue, 18 Sep 2018

EMBARGOED UNTIL 6am WEDNESDAY By Paul McBeth Sept. 19 (BusinessDesk) - New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. Banks canvassed in KPMG's quarterly financial institution performance survey increased gross loans 1.6 percent to $412.21 billion in the three months to June 30 - the biggest quarterly credit expansion since September 2016. Heartland Bank led the way at 2.69 percent, while Bank of New Zealand expanded its loan book 2.01 percent in the...

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