NZ banks' loan book hits fresh high of $228 bln, but margins squeezed

Tue, 26 Jul 2016

By Edwin Mitson July 25 (BusinessDesk) - The size of the mortgage books of New Zealand's banks hit a new high of $227.7 billion in the three months ended March 31, an increase of $8.4 billion or 3.9 percent on the previous quarter. The figures, from KPMG's Financial Institutions Performance Survey, come despite bank margins being squeezed by the fierce battle for home loans, with just Bank of New Zealand able to maintain its lending margin of 2.21 percent in the quarter. BNZ had a particularly strong three months. Its mortgage book show...

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