New Zealand Bankers’ Association chief executive Roger Beaumont said factors outside banks’ control such as the rising cost of living and the ongoing economic impact of Covid-19 had negatively affected consumer sentiment generally, and that in turn impacted how people feel about banks.

“Banks work closely with customers through a range of options before considering a mortgagee sale. Some people may choose to sell the property themselves before it gets to a mortgagee sale.”

New Zealand Bankers’ Association chief executive Roger Beaumont said it was looking at the proposed tweaks to the new lending rules and expected to make a submission on the current consultation.

ASB chief executive Vittoria Shortt has been elected chair of the New Zealand Bankers’ Association, and BNZ chief executive Dan Huggins was elected deputy chair.

“We’re not surprised the government’s new rules are making some customers unhappy, and our front line workers bear the brunt of that. It’s also not surprising they’re complaining to the Banking Ombudsman about it, even though we’re not responsible for the rule change,” Beaumont said.

Beaumont said he was not surprised the government’s new rules were making some customers unhappy, and front line workers were bearing the brunt of that. “It’s also not surprising they’re complaining to the Banking Ombudsman about it, even though we’re not responsible for the rule change.”

ASB chief executive Vittoria Shortt has been elected chair of the New Zealand Bankers’ Association and takes on the role today.

BNZ chief executive Dan Huggins was elected deputy chair. The chair and deputy chair take on their respective roles for two years.

Ms Shortt says the banking industry has supported Kiwis through an incredibly challenging time over the past few years, while also navigating significant changes in the economic and regulatory landscape.

“As incoming chair of the NZBA, I’m looking forward to continuing the commitment of New Zealand banks to supporting economic recovery by backing Kiwi households and businesses.

“There is huge opportunity for the banking sector to lead with purpose on some of the big issues facing New Zealand such as climate change, financial inclusion and advancing initiatives in support of Te Ao Māori. There is no doubt banking can be – and is – a force for good but we also need to continue to earn and build our reputation with the New Zealand public whether it be through demonstrating the way we care for customers in vulnerable situations or ensuring continued access to banking services.”

New Zealand Bankers’ Association chief executive Roger Beaumont thanked Kiwibank chief executive Steve Jurkovich for his contribution as chair over the last two years and welcomed Vittoria Shortt to the role.

Established in 1891, NZBA is the voice of the banking industry. The association backs its member banks to deliver for New Zealanders by shaping policy on non-competitive issues and telling the industry’s story.

The association currently has 17 members, all of which are banks registered under the Reserve Bank of New Zealand Act 1989. The association’s governing body is its council, comprising the chief executive of each member bank. In addition to these members, NZBA has eight affiliate memberships from other organisations that support the banking industry.

ENDS

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NZ Bankers’ Association chief executive Roger Beaumont said banks would undertake thorough assessments and tests to help ensure customers could make their mortgage payments when they applied. These include factoring in potential interest rate rises as well as the state of the housing market.