NZ banks strong enough to weather downturn, dairy price slump: Moody's

Mon, 03 Aug 2015

By Paul McBeth Aug. 4 (BusinessDesk) - New Zealand's lenders are in a strong enough position to weather slowing economic growth over the next year-and-a-half, while slumping dairy prices aren't expected to pose as big a threat as they did in 2009, says Moody's Investors Service. The global rating agency has a stable outlook for the nation's banking system, built on the expectation the country's lenders will maintain strong asset quality and stable profitability in the face of a slowing economy. Moody's anticipates slower gross domestic pr...

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