About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Wednesday, December 12th, 9:54AM
rss
Latest Headlines

BNZ profits soar as home loans increase

Lender BNZ says statutory net profit rose to $1.09 billion in the year to September, a 10% increase on last year as housing lending grew by over 6%.

Thursday, November 1st 2018, 3:12PM

The profit is close to BNZ's 2015 record of $1.03 billion, and comes amid backdrop of increased regulatory scrutiny on the big banks.

BNZ CEO Angela Mentis says the bank, like others, is working with RBNZ, as the central bank reviews conduct and culture at the major lenders. A report is due this month.

Housing lending increased by 6.4% last year, the bank said, up to $39.8 billion. The market share of lending stayed flat however, at 15.7%, up from 15.6% the year before. 

Total revenue at NAB's New Zealand division rose by 7% to $2.4 billion, with growth attributed to housing, business lending and deposits, and an improved net interest margin. 

The lender stressed it was "listening to customers and working with regulators" on the culture review. The bank said it had made changes on fees to reflect the new environment: Mentis said: “As we simplify our products and fees we’re passing savings on to our customers. This year BNZ has removed or reduced a series of fees and we will continue to do so. This month for example we’re removing the replacement fee for the thousands of customers who lose or have their BNZ card stolen each year."

“Our customers’ trust in BNZ is well-founded and we will continue to take proactive steps to ensure that remains the case," Mentis added. 

Mentis stressed BNZ would focus on customers, amid the looming regulatory scrutiny: "BNZ’s already making positive changes as we identify opportunities to improve the way we work and quickly fix issues where they are identified. We have already removed sales targets for staff in key customer roles in branches and call centres, so our people can focus on delivering better results for customers.”

“The continued success of BNZ is interwoven with our purpose of enabling a high achieving New Zealand and that means a dedication to consistently deliver the best possible outcomes for all of our customers,” Mentis added.

Tags: BNZ RBNZ Reserve Bank

« Advisers account for increasing amount of ANZ loansOCR preview survey: Economists divided on tone »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.55 4.79 4.99
ANZ Special - 4.05 4.29 4.49
ASB Bank 5.80 4.44 4.69 4.89
ASB Bank Special - 3.95 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.10 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.79 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.29 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 3.95 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - 3.95 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 4.60 4.85 4.99
TSB Bank 5.80 4.45 4.69 4.99
TSB Special - 3.95 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - 4.15 4.29 4.59
Median 5.89 4.50 4.69 4.79

Last updated: 2 December 2018 8:39pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

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