Stuff
Bank profits cut nearly in half by Covid-19 economic crisis
25/08/2020
New Zealand Bankers’ Association chief executive Roger Beaumont said banks had taken on staff earlier in the year to cope with rising compliance costs.
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Stuff
Auckland banks shut doors – then open them – after level 3 confusion
24/08/2020
The New Zealand Bankers’ Association said banks had been informed that a Reserve Bank application to allow them to open had been declined and had shut their doors.
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Banks welcome changes to business lending scheme
20/08/2020
The New Zealand Bankers’ Association today welcomed further changes to the government’s Business Finance Guarantee Scheme. “We think expanding the criteria should make it more relevant for businesses in need at this time,” says New Zealand Bankers’ Association chief executive Roger Beaumont. “Changes that will help include extending the loan maximum from $500,000 to $5...
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Interest.co.nz
Robertson increases cap on Business Finance Guarantee Scheme 10-fold, extends terms of loans and enables businesses to use loans for capital investment and re-financing
20/08/2020
NZ Bankers’ Association CEO Roger Beaumont said “uptake will ultimately be driven by demand from businesses”.
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Business Desk
Govt tries again to get banks to lend businesses up to $6.25b
20/08/2020
NZBA data showed that since March 26 when the country first went into lockdown its members have lent $14.7 billion to businesses outside of the BFGS to more than 25,600 businesses.
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NZ Herald
Government-backed loan size limit raised from $500,000 to $5m in bid to boost interest
20/08/2020
“Widening the scheme criteria further supports the supply of credit to businesses in need. Uptake will ultimately be driven by demand from businesses.”
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NBR
Banks say modified finance guarantee scheme will help business lending
20/08/2020
The New Zealand Bankers’ Association’s chief executive Roger Beaumont said expanding the criteria of the scheme should make it more relevant for businesses.
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Interest.co.nz
David Hargreaves tries to make sense of swirling and contradictory facts and figures around the current mortgage market
19/08/2020
The Bankers’ Association says that since March 26, when New Zealand first went into lockdown, banks have deferred all repayments on consumer loans totalling around $21 billion for over 61,000 customers. That represents 7% of total consumer lending. It adds, however, that nearly a quarter of those customers have subsequently restarted their loan repayments.
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NZ Herald
Farming business advice from Rural Support
18/08/2020
The National Council of Rural Support Trusts and New Zealand Bankers’ Association have recently signed the agreement for the Fund. Under the agreement, the RSTs will provide up to $3000, depending on an assessment of need, and the relevant bank will match that dollar for dollar.
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Stuff
Homeowners warned not to expect automatic extension of loan ‘holidays’
17/08/2020
Customers may be eligible for a new loan deferral for up to six months or an extension to their current loan deferral, said Bankers’ Association chief executive Roger Beaumont. But, he said: “Any new or extended loan deferrals will not be automatic.
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