Kiwibank says its focus for the future is transforming into a digital business, with fewer branches and digitally-enabled sales supported by staff.
Kiwi Group Holdings, which includes Kiwibank, associated wealth management and insurance companies, and New Zealand Home Loans, reported an after-tax profit of $132 million for the year to June 30.
The bulk of that came from Kiwibank, which reported an after-tax profit of $127 million, up 27% on the year before.
Chief executive Paul Brock said the result was driven by a focus on more profitable and diversified revenue growth, backed by solid performance in mortgage lending and customer deposits, combined with a strong improvement in credit performance...MORE»
Thursday, August 27th, 7:02PM
ANZ appoints a new boss for its broker business.MORE»
Thursday, August 27th, 5:45PM 3 comments
Former Mike Pero mortgage adviser James Heath has failed to overturn his restraint of trade agreement and set up a new business.MORE»
New Zealand’s official cash rate will be reviewed less often in coming years.MORE»
Growing investor demand for Auckland property has exacerbated the price pressures arising from the underlying supply shortage, the Reserve Bank says.MORE»
Sharper loan-to-value restrictions for Auckland investors should never have happened in the first place, it was argued today, as the Reserve Bank announced a little more leeway.MORE»
Rampant Auckland property prices – as opposed to the banking and finance system itself - are to blame for Standard & Poor’s downgrading of New Zealand’s risk assessment.MORE»
Robust house price growth – particularly in Auckland – is elevating risks to New Zealand’s financial system, according to Standard & Poor’s latest Banking Industry Country Risk Assessment (BICRA).MORE»