13/05/2020
The NZBA reported banks provided $7.6 billion of “new” business lending to 13,432 customers between March 26 and May 13.
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Media
Here you’ll find our media releases and opinions about banking in New Zealand, along with our media appearances.
11/05/2020
Last week, the New Zealand Bankers’ Association said 105,035 loans worth a total of $36.9b had been reduced or had payments deferred on them.
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07/05/2020
Beaumont said banks are “responsible lenders” and the BFGS doesn’t change that. “Businesses borrowing under the scheme still need to see a way of repaying the loan.”
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07/05/2020
As of an update posted yesterday on the New Zealand Bankers Association website 105,035 loans had been reduced or payments deferred on them totalling loans worth $36.9 billion.
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07/05/2020
“Because it was paid upfront the wage subsidy has meant that many businesses have not yet had the need to look for other assistance. Many businesses needing a loan so far have, for example, opted to quickly roll over short-term funding or extend overdrafts already in place with their bank.”
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07/05/2020
“There were quite strict criteria around who was eligible for the [Finance Guarantee] scheme.” He said banks had loaned an extra $7.2 billion outside the scheme, through other financing options.
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06/05/2020
“In our view, the scheme supports longer-term lending. Businesses are more likely to be confident of applying for loans under the scheme only once they have formed a clearer view of their longer-term prospects and needs,” NZBA chief executive Roger Beaumont said.
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05/05/2020
“So far, many businesses needing a loan have, for example, opted to quickly roll over short term funding or extend overdrafts already in place with their bank.”
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05/05/2020
“Since we went into lockdown on 26 March our banks have lent $9.6 billion to over 41,000 personal and business customers. This includes $6.4b in new lending to business, which is separate from the government’s shared risk Business Finance Guarantee Scheme that has a lending limit of $6.25b.
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01/05/2020
The Bankers Association responded to Robertson’s comment that banks had not met the lending expectations of the Government by saying banks had lent $6.1b to businesses since the country went into lockdown on March 26.
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