Westpac NZ seeks more agriculture market share despite dairy downturn

Mon, 02 May 2016

By Fiona Rotherham May 2 (BusinessDesk) - Westpac New Zealand says it wants to lift its market share of agricultural lending over time to 20 percent from the current 12.6 percent. The Australian-owned bank today reported a steady performance in its New Zealand unit with cash earnings of $445 million for the six months ending Mar. 31, up 2 percent on a year ago. Overall lending rose 8 percent with a 9 percent lift in business lending to $26.6 billion. Its agricultural portfolio totals $8.1 billion, up from $7.3 billion a year ago with d...

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