NZ life, mortgage insurers likely to weather pandemic better than Australia
By Brent Melville | Tue, 02 Jun 2020
New Zealand life and mortgage insurers are likely to fare better than their Australian counterparts next year as income protection claims bite across the Tasman. Global ratings agency Standard and...
Japan’s Shinsei Bank to buy UDC for $762m
By Paul McBeth | Tue, 02 Jun 2020
Japanese financier Shinsei Bank is trying its hand at buying ANZ Bank New Zealand’s UDC Finance unit almost two-and-a-half years after China’s HNA Group was blocked by the Overseas Investment Office....
Tower signals 108 job losses as looming recession threatens growth
By Paul McBeth | Fri, 29 May 2020
Tower is considering laying off 108 staff as it battens down the hatches ahead of the looming recession. The general insurer reported a 12.9 percent drop in underlying earnings to $16.9 million in...
Govt's new small business loan scheme lends nearly $1b
By Jenny Ruth | Wed, 27 May 2020
The government's small business loan scheme that bypasses banks in favour of the Inland Revenue Department processing applications is proving far more successful than the earlier business finance guar...
SBS, Cooperative banks expect little impact from Fitch downgrade
By Jenny Ruth | Tue, 19 May 2020
SBS Bank and Cooperative Bank expect little immediate impact from Fitch Ratings downgrading their subordinated debt to below investment grade. Fitch affirmed both banks' main "BBB" ratings although...
Related: SBS, Cooperative banks expect little impact from Fitch downgrade
Fitch adopts negative outlook on TSB, SBS, Co-op and others
By Jenny Ruth | Tue, 19 May 2020
Fitch Ratings has revised its outlook to negative from stable for the ratings of the three smaller locally-owned banks - TSB Bank, SBS Bank and Co-operative Bank - in case the fallout from the coronav...
Related: SBS, Cooperative banks expect little impact from Fitch downgrade