Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
MTF's core annual profit falls after loan product withdrawn
Unrealised fair value gains boosted Motor Trade Finance's annual net profit 38 percent but underlying profit was down 8.6 percent, reflecting the withdrawal of its non-recourse lending product.MTF's net profit for the year ended September rose to $11.1 million from $8.1 million t...
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Economy
RBNZ wants to beef up puny prudential supervisory resources
The Reserve Bank of New Zealand says it will be increasing its scrutiny of financial institutions and raising its current very low prudential supervisory staffing levels, subject to funding constraints.Deputy governor Geoff Bascand, who is also financial stability general manager...
Retail
Turners sees opportunity as smaller dealers exit market
Turners Automotive Group said small car dealers quitting the industry is an opportunity for the firm, which grabbed more market share in the half-year September. The integrated car dealer, financier and insurer reported a 19 percent drop in profit to $10.3 million in the six m...
Economy
Dairy loans being closely monitored by banks: RBNZ
A significant share of dairy loans are being closely monitored by banks, despite above-average dairy commodity prices and reasonable profitability across the sector as a whole, the Reserve Bank says in its latest financial stability report.But the prudential regulator says farmer...
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