Westpac NZ comfortable with mortgage book quality

Mon, 07 Nov 2016

By Paul McBeth Nov. 7 (BusinessDesk) - Westpac Banking Corp's New Zealand chief executive David McLean is comfortable with the quality of his $45.1 billion mortgage book, saying it would take an extreme downturn to kick off major losses. New Zealand's housing market has been the subject of great scrutiny by policymakers in recent years as a shortage of property in its biggest cities combined with a rapid inflow of net migration to push up prices to what's been described as unsustainable levels and prompted the Reserve Bank to impose lend...

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