Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
Coronavirus
ANZ NZ profit falls 15% after $200m covid-19 provisions
ANZ Bank New Zealand's first-half net profit fell 15 percent, reflecting a $200 million increase in charges against profit for bad debts on the expected impact of the coronavirus crisis. Its year-earlier results had also been boosted by profits from asset sales. ANZ's net p...
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Property
Mortgage lending showing signs of the sniffles
On the face of it, the Reserve Bank’s latest mortgage lending numbers of $6.2 billion for March can be taken as a measure of decent health, up about $410 million year-on-year. The lending numbers are relatively subdued however, in the context of the overheated property market...
Coronavirus
Will ANZ decide more provisions are better?
ANZ Bank's Australian parent is likely to unveil sizeable provisions for losses due to the coronavirus crisis when it reports its first-half results tomorrow. Analyst and market reactions to provisions already announced by Westpac and National Australia Bank suggest more is be...
Coronavirus
Westpac Australia: A$1.6b of covid-19 related provisions against profit
Westpac's Australian parent has announced a A$2.24 billion impairment charge will be booked in its first-half results scheduled to be released on Monday, including A$1.6 billion of provisions for losses due to the coronavirus crisis. Moreover, the bank said the covid-19 outbre...
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