Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
Finance
Has NZ reached the lower limits of monetary policy?
For all the talk about the Reserve Bank having to resort to "unconventional" monetary policy once its official cash rate gets so low as to be ineffective, there are signs we may have already reached that point.Government-owned Kiwibank has just increased its one-year term deposit...
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Finance
BNZ grapples with a squeeze on margins, rising dairy bad debts
Like the other major banks, Bank of New Zealand is grappling with a squeeze on margins, a squeeze that goes further than the small dip revealed in its results press release earlier this month.The reported 2-basis point decline in net interest margin to an average 2.25 percent for...
Finance
Heartland needs to lift return on equity: Greenslade
Heartland Group Holdings needs to lift its return on equity closer to comparable benchmarks in Australia, managing director Jeff Greenslade told shareholders at today's annual meeting. "Despite exceeding benchmark rates of peers in terms of receivables growth, net interest mar...
Finance
Four auditors vied for lucrative Fonterra contract
Fonterra's chosen auditor, KPMG, was just one of four audit firms to throw its hat in the ring to put dairy cooperative's books under the microscope.Chief financial officer Mark Rivers told shareholders that they settled on KPMG after running a formal tender.“We considered four a...
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