- Large profits in the banking sector needed to be considered alongside the contribution banks made to the economy, Mr Hope says. “Last year banks contributed around $6 billion to our economy through the $4.5 billion they invest in running their businesses here, and the $1.3 billion they paid in tax.”
- The banking industry’s lobby group has slammed the investment regulator over its guidance on how KiwiSaver should be sold, saying it will be harder for consumers to get information on the retirement savings scheme.
- A survey by Consumer NZ shows the banking sector in New Zealand rates well above other service sectors. New Zealand Bankers’ Association chief executive Kirk Hope says banks have lifted their game over the last five years, with an eight percent increase in customer satisfaction from 84 percent to 92 percent.
- The week ahead is Money Week, and the banking industry is getting on board with a range of financial education activities. Mr Hope says banks are backing Money Week because they believe well-informed customers are better placed to make borrowing and investment decisions.
- A reduction in compliance costs could be on the way for small and medium sized companies if the new financial reporting bill passes later this year. New Zealand Bankers’ Association CEO Kirk Hope says the savings could be significant.
- It may never rival the popularity of the Da Vinci Code, but there is good reason why everyday banking customers will want to read the Code of Banking Practice
- The New Zealand Bankers’ Association issued a statement applauding Hunt’s prosecution. NZBA chief executive Kirk Hope said at last year’s Financial Summit the banking industry had agreed with regulators and consumer groups that robust enforcement of existing consumer protection law was crucial to cracking down on rogue lenders who prey on vulnerable people.
- n defence of lenders, Hope said it needs to be recognised by those critical of finance companies that the circumstances of borrowers (particularly those using credit facilities) can change from the time of the loan.
- Bank lobby group the New Zealand Bankers’ Association has hit back at suggestions from property information provider Terralink that mortgagee sales are rising because of a “marked upturn” in the major banks forcing them, saying the total number of mortgagee sales last year was less than 0.2% of the total number of mortgages and there’s... Read more »
- “The benefits to already responsible participants are not at all evident compared to the costs they are being asked to shoulder,” Hope said. While banks could pose a greater structural risk to the economy, Hope said the prudential risks of the sector were already being managed by the Reserve Bank. “At a structural level we’re talking about... Read more »
