Difference in scores a reflection of banking study
The big gap in satisfaction scores between first place and the rest of the pack in Consumer NZ’s latest survey of the worst and best banks, reflects the findings of the Commerce Commission’s banking draft market study, Consumer NZ says.
The study found limited competition between the big players in New Zealand’s banking sector has resulted in the majority of banking customers receiving lower levels of service.
Consumer NZ chief executive John Duffy says it’s concerning to find Australian-owned Westpac, which holds almost 20% of the New Zealand market, has the lowest levels of customer satisfaction. “Something...MORE»
Westpac says 65% of mortgage customers more than 3 months ahead of repaymentsTuesday, May 7th, 9:14AM
Westpac New Zealand says about 65% of its mortgage customers were more than three months ahead on repayments at March 31, which helps to explain why fewer customers than it had expected are suffering hardship amid higher interest rates. MORE» |
Westpac NZ added $1.44b of mortgages in the six months ended MarchMonday, May 6th, 1:21PM
Westpac New Zealand's mortgages surged in the latest six months by $1.44 billion to $66.96 billion compared with growth of just $333 million in the six months ended September, the bank's latest disclosure statement shows. MORE» |
Paying the cost of bureaucratic incompetence
In its next monetary policy statement (MPS), the RBNZ should signal that a drop in the OCR is imminent, Squirrel Mortgages chief executive David Cunningham.
MORE»Adviser's share of BNZ's new lending dipped in latest six months
Mortgage advisers accounted for slightly less of Bank of New Zealand's new mortgages in the six months ended March compared with the previous September half year , but adviser share of the overall portfolio continues to grow.
MORE»Mortgage arrears up and still rising slowly
Mortgage arrears continue to climb from recent lows and are expected to rise 0.7% by the end of the year, up from 0.5%, the Reserve Bank’s latest Financial Stability Report shows.
MORE»Mergers and acquisitions expand North Shore mortgage business
Takapuna-based mortgage company adviceHQ is expanding.
MORE»RBNZ could impose DTIs on mortgage lending from July
The earliest the Reserve Bank is likely to impose debt-to-income (DTI) restrictions on bank mortgage lending is July this year, the central bank says in its latest financial stability report (FSR).
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