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: Friday, July 10th, 9:59PM

Investments

rss
Latest Headlines

Rates Round Up

ANZ National sheds deposits in June quarter while Westpac adds to its book; Blue Star hopes to get bond interest payments up and running; NBDT regs push Fletcher Building out of market; Manukau City put up another retail bond; Dorchester looks to boost directors' fees, CEO pay.  

Tuesday, August 31st 2010, 4:31PM

ANZ National sheds deposits in June quarter
ANZ National lost more than a billion of deposits in the June quarter as its rivals went on the offensive to attract more retail deposits, ahead of tougher prudential requirements for lenders.

The country's biggest bank lost $1.183 billion from its term deposit ledger, taking its total to $33.049 billion.

June quarter keeps Westpac smiling in deposit rate war
Westpac will be smiling after a strong June quarter in the ongoing competition for deposits, after it added $329 million to its term deposit ledger.

The bank had term deposits worth $17.46 billion as at June 30, beating out Bank of New Zealand with some $17 billion and Kiwibank at $6.9 billion. The other major banks have yet to release their general disclosure statements for the quarter.

Blue Star hopes to get bond interest payments up and running
Blue Star Group wants to get its bond interest payments up and running as soon as practical after it suspended them last year after it reached agreement with its senior lenders to reset its banking covenants.

The printing group posted a loss of $2.7 million in the year ended June.

NBDT regulations push Fletcher Building Finance out of market
Fletcher Building's has restructured its funding vehicle to dodge the Reserve Bank's prudential requirements, and will no longer use Fletcher Building Finance as its preferred source of funds.

The changes will not affect existing capital note holders.

Manukau City put up another retail bond
Manukau City is looking to raise more money from the public, and will launch a retail bond of up to $350 million in November.

Minimum subscription will be $5,000, and the bonds will mature in 2017. The minimum interest rate and issue margin will be set at the end of the month.

Dorchester looks to boost directors' fees, CEO pay
Dorchester Pacific is asking shareholders to approve its pool for directors' fees to $300,000 from $240,000, and lift chief executive Paul Byrnes' pay to $341,360.

The increase in directors' fees is to cover the prospect of another person joining Dorchester's board, while Byrnes' package, which includes a loan of $250,000 to buy shares, is to compensate his new full-time role with the financier and insurer.

 

 

« SCF’s long history blurred in an instant Liquidiator mum on Five Star funding commitments »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Today's Best Bank Rates
Heartland Bank 1.00  
Heartland Bank 1.00  
Rabobank 1.00  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
  • Harking back to the old days
    “Tactical move by CIGNA and looks like they have a lot of bench strength now in sales, underwriting and product / pricing...”
    10 hours ago by hitting rock
  • Greens want ACC extended to cover sickness
    “Never happen. The Greens are such an aspirational bunch. Must all the weed. They 'want' all sorts of unlikely things...”
    13 hours ago by All hat no cattle
  • Harking back to the old days
    “Really positive news. NZ has been blessed by many successful leaders and it is good that their skills can skill be utilised...”
    18 hours ago by Francis L
  • Harking back to the old days
    “I dare say Cigna just got that extra grunt it's been looking for....”
    20 hours ago by Matron
  • Greens want ACC extended to cover sickness
    “The Greens have no idea The purpose of the Woodhouse report was to remove the "at fault" component of accidents Sickness...”
    1 day ago by LNF
Subscribe Now

Deposit Rates newsletter

Previous News

MORE NEWS»

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