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 …
Read More »ANZ, BNZ may make call on high-coupon notes, sending $1.28B looking for new home
Some $1.28 billion of investment funds could be looking for a high-yielding home in the next few months amid speculation ANZ New Zealand and a local unit of National Australia Bank will call hybrid notes they sold in 2008 when interest rates were high. ANZ has $835 million of perpetual callable subordinated bonds with a first call date of April …
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