NZ banks expected to maintain sound asset quality as interest rates rise, S and P says

Thu, 13 Feb 2014

By Tina Morrison Feb 13 (BusinessDesk) – New Zealand banks should be able to absorb any bad loans from borrowers under pressure as interest rates start climbing this year, maintaining their sound asset quality levels, Standard & Poor’s Ratings Services said in its 2014 outlook for the New Zealand banking sector. New Zealand’s central bank is this year expected to start hiking interest rates for the first time in almost four years, starting next month and continuing through 2015. The country’s benchmark interest rate has been on hold at a reco...

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