In 2024 banks had total equity of $63.34 billion invested in New Zealand.
Banks spent $7.46 billion running their businesses in New Zealand.
Banks paid $2.81 billion in tax in 2024.
Banks employ over 29,000 people.
The five major banks paid $3.69 billion to over 26,000 employees nationwide.
Source: KPMG’s Financial Institutions Performance Survey Review of Banks 2024
Loans to households at December 2024 totalled $371.8 billion.
Loans to businesses (excluding agriculture) at December 2024 totalled $128 billion.
Loans to the agricultural sector at December 2024 totalled $62.7 billion.
Source: RBNZ C5 Sector lending (registered banks and non-bank lending institutions)
“Banks have built financial buffers that will help them maintain the supply of credit even if losses grow. They increased their provisions in 2023 when they anticipated an increase in non-performing loans. Strong profitability has also allowed banks to retain earnings and grow their capital positions. Capital ratios are comfortably above our minimum requirements, even as those requirements increase.”
Source: Reserve Bank of New Zealand Financial Stability Report, November 2024
New Zealand has over 600 bank branches.
New Zealand has over 1500 bank-owned ATMs.
New Zealand banks have total assets of $712.21 billion.
In 2024 the return on assets was 1.02%.
Banks’ average return on equity in 2024 was 11.72%.
Banks’ average net interest margin in 2024 was 2.34%, the same as in 2023.
Source: KPMG’s Financial Institutions Performance Survey Review of Banks 2024