tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Monday, April 19th, 9:07AM

Mortgages

Mortgage Rates Daily Commentary
Friday 16 April 2021  Add your comment
Banks given clean bill of health — but will Aussie lenders sell NZ operations?

New Zealand's biggest banks and non-bank lenders remain in a robust position despite the pandemic, according to rating agency Standard & Poor's.

S&P has predicted a possible shake-up of the NZ banking landscape due to the Reserve Bank's new capital requirements: [READ ON]

rss
Latest Headlines

ASB and Kiwibank expand, HSBC goes backwards

ASB Bank continued to shine in the mortgage market during the March quarter and grew its profits while the government-owned Kiwibank is now probably the fifth largest player in the market, its mortgage overtaking that of HSBC's even as its profit more than doubled.

Thursday, June 15th 2006, 5:23AM

by Jenny Ruth

HSBC's mortgage book continued to shrink, although, unlike the other home-lending banks it doesn't include loss attributing qualifying companies (LAQCs) in its residential lending figures, and its net profit fell.

ASB Bank's net profit rose 8.2% to $105 million in the quarter, bringing its profit for the nine months ended March to $322 million, up 15.4% on the same nine months a year earlier.

The bank's mortgage book grew by $1.01 billion to $28.29 billion in the quarter, lifting its share of bank lending on housing to 23.9% compared with 23.7% at the end of December, using Reserve Bank figures as a proxy for the market. In March last year, ASB's share of the mortgage market was 23.2%.

Kiwibank's net profit jumped 120.6% to $5.4 million in the March quarter, bringing its profit for the nine months ended March to $10.8 million, up from $4.9 million in the same nine months a year earlier.

Kiwibank spokesman Bruce Thompson says this is in line with the bank's expectation that its full-year result will be about double that of last year's.

There was no one reason for the bank's increasing profitability other than the customers it signed up in its early start-up phase are now starting to pay off, Thompson says.

HSBC's net profit fell 6.7% to $7.7 million in the March quarter while its mortgage book shrank to $2.11 million from $2.12 million at the end of December and from $2.16 million in March last year.

The last time HSBC revealed the amount it had lent to LAQCs was in the December 2004 quarter when that part of its book stood at $587 million.

« House price inflation abates for fourth straight monthSay goodbye to Welcome Home Loans: National »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.29 2.59 2.65
ANZ 4.44 2.89 3.25 3.39
ANZ Special - 2.29 2.69 2.79
ASB Bank 4.45 2.29 2.59 2.65
Basecorp Finance 5.49 - - -
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.29 2.59 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 2.89 3.19 3.39
BNZ - TotalMoney 4.55 - - -
Lender Flt 1yr 2yr 3yr
CFML Loans 4.95 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.40 3.50 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - 2.25 - -
ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 2.67 2.97 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.20 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.35 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
Lender Flt 1yr 2yr 3yr
SBS Bank 4.54 2.79 ▲2.99 ▲3.29
SBS Bank Special - 2.29 ▲2.49 ▲2.79
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.09 - -
The Co-operative Bank - Owner Occ 4.40 2.29 2.59 2.79
The Co-operative Bank - Standard 4.40 2.79 3.09 3.29
TSB Bank 5.34 3.09 3.29 3.45
TSB Special 4.54 2.29 2.49 2.65
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 2.29 2.69 2.79
Median 4.55 2.73 2.99 2.80

Last updated: 12 April 2021 8:56am

Previous News

MORE NEWS»

News Bites
Compare Mortgage Rates
Compare
From
To
For

To graph multiple lenders, hold down Ctrl key while clicking in list box

Also compare rates to OCR
Find a Mortgage Broker

Add your company

Use map
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com