Media Appearances

Newsroom - Full Govt guarantee needed for business loans

May 1, 2020 - The New Zealand Bankers Association said banks had lent businesses $5.9 billion in new loans since March 26. These are loans outside the BFGS because the final deed on the scheme was signed two weeks after the official announcement was made.

NZ Herald - Covid 19 coronavirus: More than 100,000 Kiwis taking mortgage relief

April 30, 2020 - More than 100,000 households are now seeking some form of mortgage relief, according to the latest data from the New Zealand Bankers Association. New figures show 49,821 borrowers have deferred all loan payments under the six month mortgage holiday scheme.

NBR - Covid-19 loan scheme for SMEs a flop

April 29, 2020 - In making loans under the Business Finance Guarantee Scheme the banks were bound by the terms set by the Treasury, Bankers Association chief executive Roger Beaumont said. “The rules require banks to have customers provide security for loans under the scheme. Banks are responsible lenders. The loans are not intended to fail, which is why... Read more »

Stuff - Coronavirus: Spraying a bit of cash around will help tackle Covid-19 disruption – but not yet, economist says

April 24, 2020 - “However, banks have quite independently loaned $6.9 billion to business customers in the four weeks since March 26.”

Newshub - Coronavirus: Banks accused of refusing to lend money to tourism businesses desperate for finance

April 23, 2020 - Banks say they’re here to help but can’t help every business in every sector. “If the business case doesn’t stack up or isn’t justifiable, well that’s when it gets really hard and really challenging,” said New Zealand Bankers’ Association chief executive Roger Beaumont.

RNZ - Covid-19: Banks boost loans to small, medium businesses

April 23, 2020 - The Bankers’ Association said so far $28.9 billion worth of new loans or restructured loans had been agreed with close to 36,000 customers.

TVNZ - Banks lend more than $6.3 billion to businesses to help them survive lockdown

April 21, 2020 - As businesses around the country race to prepare for life under Covid-19 Alert Level 3, 1 NEWS can reveal since the lockdown started banks have lent more than $6.3 billion to businesses.

Stuff - Reserve Bank prepares to axe loan-to-value restrictions for home-buyers

April 21, 2020 - “This proposal would also add to the range of support our banks are already offering affected customers to help them get through. For example, banks have to date allowed around 100,000 customers reduce repayments on loans worth $33 billion, and completely defer repayments on loans worth $17 billion.”  

NBR - Firms urged to go back to banks for loans

April 21, 2020 - “The fact that banks have lent $5.5b to businesses since we went into lockdown clearly shows they’re lending where they can. They still need to be responsible lenders and not everyone looking for a loan will meet the lending criteria,” Beaumont said. None of that $5.5b loaned by banks since March 26 forms part of the... Read more »

NZ Herald - Covid 19 Coronavirus: Banks to charge as little as 0.8% on govt-backed business loans

April 21, 2020 - Data released by the New Zealand Bankers’ Association yesterday showed that since the lockdown began on March 25, the nation’s trading banks had provided 13,559 businesses with new loans totalling $5.5 billion, moved to either interest only or reduced principal repayments and interest on $17.4 billion of existing loans to 13,549 businesses, and that a... Read more »