NZ regional bank profits may come under pressure amid competition from bigger Australian rivals

Thu, 24 Oct 2013

By Tina Morrison Oct. 24 (BusinessDesk) – New Zealand regional banks, which make up about 15 percent of the local market dominated by four large Australian lenders, may struggle to increase revenue in the coming year amid competition from their bigger rivals, Fitch Ratings says in a review of regional financial institutions. The nation’s regional lenders, including Kiwibank, Southland Building Society, Nelson Building Society, Wairarapa Building Society, TSB Bank, Heartland Bank and The Co-operative Bank, benefit from simple business models...

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