Interest-free overdrafts for Novopay-affected teachers
28/11/2012
All retail banks are offering interest-free overdrafts to teachers and other school staff affected by the Novopay payroll system issues from now until 15 January 2013. “Banks across the board are supporting their customers here. This issue affects the largest single payroll in the country. It’s about helping ensure affected teachers and staff continue to...
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Radio NZ
Bankers respond to criticism over profits
22/11/2012
The Bankers Association commissioned Massey University’s Centre for Banking Studies to compare the return on shareholders’ equity for the banks, with those of the top 50 listed firms, between 2008 and 2012.
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Interest.co.nz
Bank lobby group says NZ bank profits in the middle of the pack when compared with major listed companies
21/11/2012
Bank lobby group the New Zealand Bankers’ Association (NZBA) says bank profitability, based on return on equity (RoE) over the past five years, comes in mid-table when compared with bigger sharemarket listed companies.
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Banking industry profits in the middle of the pack
20/11/2012
The New Zealand Bankers’ Association today released long run bank profitability data which compares returns on equity for New Zealand banks against NZX listed companies. Independent analysis undertaken by Massey University showed that retail banks’ average return on equity over the last five years fell in the middle of the range compared to NZX listed...
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Banks support financial outlook
06/11/2012
The Reserve Bank’s latest Financial Stability Report issued today has confirmed that banks are supporting New Zealand’s financial outlook in the face of ongoing global economic challenges. “Well-regulated strong banks are part of New Zealand’s current success compared to other countries,” says New Zealand Bankers’ Association chief executive Kirk Hope. The report identified a number...
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Interest.co.nz
New Zealand will seek to negotiate tax information agreement with US over ‘FATCA’ law NZ banks had feared would cost them NZ$100 mln
25/10/2012
“It’s a useful step towards sorting out a very thorny and expensive compliance issue for us. We understand US moves to clamp down on tax evasion by Americans living around the world. But without an inter-governmental agreement, the US law’s provisions are virtually unworkable,” said Hope.
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Steps towards FATCA agreement applauded
24/10/2012
The New Zealand Bankers’ Association today applauded the government’s decision to seek an inter-governmental agreement between New Zealand and the United States which will help financial institutions comply with new US tax reporting requirements. The Foreign Account Tax Compliance Act, also known as FATCA, is designed to ensure US citizens resident in other countries meet...
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NBR
Banks claw back profits
24/10/2012
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.”
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Banks fit to face challenges
23/10/2012
KPMG’s Financial Institutions Performance Survey (FIPS) report for the quarter to 30 June 2012 confirms that New Zealand banks are well placed to meet ongoing challenges. Those challenges to the banking sector, and the wider New Zealand economy, include the continuing European debt crisis and a slowdown in the Australian economy, our largest trading partner....
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NZ Herald
Banks slam FMA KiwiSaver selling advice
17/10/2012
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.
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