NZ banks set to stay profitable in face of increasing competition, Moody's says

Wed, 30 Jul 2014

By Paul McBeth July 30 (BusinessDesk) - New Zealand's banks should be able to maintain their strong levels of profitability, even as mounting competition puts pressure on their margins, according to ratings agency Moody's Investors Service. The nation's banking system is stable, based on sustained growth expectations for the economy, and the relatively low level of bad loans on lenders' books, Moody's said in a report. Lower funding costs will help lender preserve their profits, even as the central bank increases interest rates and borrow...

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