NZ banks on stable footing in 2015 supported by economic growth, Fitch says

Tue, 13 Jan 2015

By Paul McBeth Jan. 14 (BusinessDesk) - New Zealand's banks are expected to maintain their profit margins as the country's upbeat economic momentum continues to support their business in the coming year, according to rating agency Fitch Ratings. The rating agency has retained the stable rating and sector outlooks for New Zealand's banks in 2015, supported by its forecast for gross domestic product to expand 2.9 percent in the year, it said in a report. Strong building activity in Canterbury and Auckland, and record migration flows are bac...

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