Have we forgotten about non-bank finance?

(Image: Getty)

Tue, 12 Nov 2024

In the world of banking, boring is good. Boring means stable profits in the door and a manageably small number of bad debts on the books. If you were to scan the annual results from three of the big four last week – Westpac, BNZ and ANZ – you would probably conclude that things are pretty boring in banking land. Lending was still pretty subdued, with demand for credit about where you’d think in the tail-end of a recession, and while the number of loans in default or arrears crept higher, it wasn’t in a way...

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