NBR
Small builders under the pump from Aussie banks
03/04/2018
“There are a number of factors banks take into account when considering applications for development finance. Preference is given to established builders and developers with a relationship with a bank and sound credit record. Banks also consider the quality of the intended build and the range of pre-sales.”
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NZ Herald
What does the Royal Commission grilling of Australia’s big banks mean for New Zealand?
27/03/2018
“New Zealand’s regulatory environment is very different from that in Australia, and the Australian-owned banks operating in New Zealand are separately governed and regulated under New Zealand law.”
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Interest.co.nz
Housing Minister Phil Twyford is anticipating a significant chunk of the Government’s KiwiBuild homes will be prefabricated
15/03/2018
“The issue is that you can’t create a security interest in something you don’t own,” Scott-Howman says. In these cases, it’s difficult for banks to lend without security, or lend an amount greater than the value of the security.
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The Spinoff
Tap that: why we love contactless debit cards
15/03/2018
“Whether or not retailers choose to pass those costs on to consumers is up to them. It’s inaccurate to say that all retailers raise their prices to cover those costs. Some may do so, while others may absorb it as a cost of doing business,” chief executive Karen Scott-Howman says. And she says in countries where...
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Australian Financial Review
New Zealand prime minister Jacinda Ardern outplays Malcolm Turnbull
02/03/2018
Karen Scott-Howman, chief executive of the New Zealand Bankers’ Association, says the banks in New Zealand are really concerned about the crisis management between Australia and New Zealand. This refers to the demand by the Reserve Bank of New Zealand that banks domiciled in New Zealand have separate computer back-up in place in case their...
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TVNZ
Fair Go – A whale of a scam
26/02/2018
Your bank will reimburse you where someone accessed your electronic banking or your card without your authority, so long as you weren’t fraudulent or negligent, complied with their terms and conditions, and took reasonable steps to protect your banking.
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Stuff.co.nz
Aussie banks with NZ presence warned over conflict of interest
25/02/2018
“The current review of the Financial Advisers Act will build on these obligations to include more explicit customer-first obligations for financial advisers. “We support this approach and are working closely with officials to help ensure a practical way of achieving this aim.”
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Stuff.co.nz
We should have reached ‘peak cash’ by now, but NZ’s pile of banknotes keeps growing
22/02/2018
“It may be that since events like the Canterbury earthquakes more people are holding cash in case of emergencies. They may be keeping it on hand, but not using it for everyday transactions.”
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Stuff.co.nz
Banks didn’t agree to cut fees at same time, association says
20/02/2018
“Our banks operate in a very competitive environment…The speed at which some banks have moved shows just how competitive they are.”
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TVNZ
‘It’s largely a story about dairy’ – Kiwi banks make just over $5 billion, up seven per cent
19/02/2018
Last year banks spent $7.2 billion on operations and tax. That’s $5.2 billion on operations, employing over 25,000 people and buying local goods and services, all while giving back to our communities through sponsorships and volunteering.
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