Finance
Explore the latest finance news by Business Desk.
Economy
BNZ's first-half result a bright spot as NAB raises A$3.5b
Bank of New Zealand's cash earnings rose 5.6 percent in the six months ended March, mainly reflecting 8.5 percent growth in housing lending and lower charges against profit for bad loans.Earnings at its parent, National Australia Bank, more than halved, largely due to an A$80...
Infrastructure
NZX hires EY to review clearing system glitches
Stock exchange operator NZX said it has hired accounting firm EY to conduct an independent review of its technical problems over the last six trading days and is reviewing a range of hardware upgrades to increase processing throughput.It is also working with clearing system vendo...
Coronavirus
Banks to charge as little as 0.8% on govt-backed business loans
Some of the major banks will be charging very low interest rates, one as little as 0.8 percent, in lending under the $6.25 billion government finance guarantee scheme.
Economy
Banks made $7.5b in new loans during lockdown
New Zealand's trading banks have provided businesses and consumers $7.5 billion in new loans since the country went into lockdown, with 13,559 business customers lent $5.5 billion and the balance going to 21,772 consumers.Another 13,549 business customers have moved to either...
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