Tag Archives: Banking

NZ Bank profits lift despite pressure on net interest income – PwC

New Zealand’s five major banks (ANZ, ASB, BNZ, Kiwibank and Westpac) have continued to show strong profits and lending growth in the first quarter of the 2015 however lending margins are beginning to contract due to stiff competition. Net profit before tax increased by $94 million or 5.9% to $1.69 billion for the first quarter of 2015, compared to $1.59 …

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Bank of China granted banking licence on eve of Xi visit

The world’s 7th largest bank*, the Bank of China announced that it has been granted its banking licence from the Reserve Bank of  and will formally launch its business at a special ceremony in Auckland on Friday. The granting of the banking licence will allow the Bank of China to meet the growing demand for the significant reciprocal trade opportunities between New Zealand and the People’s …

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