- The NZBA revealed that over two-thirds of consumer loans that had principal and interest repayments deferred due to the impact of the pandemic were now “back to normal,” and nearly 40% of consumer loans that had reduced repayments were also now back on track.
- Association chief executive Roger Beaumont said trial regions were chosen on a range of criteria. “Some of that is geographic spread, so there’s two in the South Island and two in the North Island, and then we wanted to test different scenarios – scenarios where there was still one bank on town remaining, and also... Read more »
- More than two-thirds of mortgage and personal loans that had principal and interest repayments deferred due to the impact of Covid-19 were now “back to normal”, says the New Zealand Bankers’ Association.
- More than two thirds of consumer loans that had principal and interest repayments deferred due to the impact of Covid-19 were now ‘back to normal’ said the New Zealand Bankers’ Association today. At the same time, nearly 40% of consumer loans that had reduced repayments were now back on track. “As we near the end... Read more »
- Banking Association chief executive Roger Beaumont said staff at the hubs will be trained to recognise potential financial elder abuse, and there will be systems in place to report concerns.
- Robertson hoped the trials would be successful because he admitted online banking had meant many smaller branches were closing. “It’s not economic for the banks to keep branches open absolutely everywhere, so rather than have nothing, we’ve got the possibility of a hub like this.”
- “Since March banks have been working proactively with customers who were financially impacted by Covid-19. Banks will continue to work with affected customers, including the relatively few who still have fully deferred loans.”
- New Zealand Bankers’ Association chief executive Roger Beaumont said interest rates were at historic lows. “That’s good news for households and businesses looking to borrow. The flip side is that investors, including people who rely on interest income, get a lower rate of return on bank deposits.”
