ICBC NZ becomes second Chinese lender to impair CBL loan, takes $10.2M provision
By Rebecca Howard April 3 (BusinessDesk) - ICBC New Zealand has taken a $10.2 million impairment on a loan to CBL Corp, becoming the second Chinese lender to reveal exposure to the insurance group which is in voluntary administration. ICBC NZ's latest disclosure statement...
MetroGlass says FY normalised net profit was $18M to $18.5M, at or below guidance
By Rebecca Howard April 3 (BusinessDesk) - Metro Performance Glass said its full-year normalised net profit was $18 million to $18.5 million on the back of weaker-than-expected Australian performance as well as some unexpected costs related to a change in leadership. The A...
NZ dollar heading for 1.6% quarterly gain, 'Swiss Franc of South Pacific'
By Rebecca Howard March 29 (BusinessDesk) - The New Zealand dollar is heading for a 1.6 percent quarterly gain against the US dollar after a whippy three months that saw it around 5 percent higher at one stage as the greenback remained out of favour. The New Zealand dollar...
RBNZ registers Bank of China to provide banking services in New Zealand as a branch
By Rebecca Howard March 29 (BusinessDesk) - The Reserve Bank of New Zealand has registered Bank of China to provide banking services in New Zealand, bringing the total number of registered banks to 26. Bank of China Ltd is incorporated in the People’s Republic of China and...
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