Kiwibank lending rises, profit falls
Kiwibank's home lending increased by 4% in the half year to December, but profits fell by nearly 20% over the period.
The state-backed bank unveiled its latest set of financial results today, with business lending up 17% and home loans up 4% in the six months to December.
Overall, profits were down 18% on the same period of 2018, as the bank made $51 million.
According to the bank's statement, total gross residential mortgage lending was $19.72 billion, up from $17.95 billion at...MORE»
What will happen to insurance premiums under the new regime?Friday, February 21st, 8:48AM 1 comment
Improved industry standards could stabilise insurance premiums under the new financial advisers regulatory regime, according to one industry expert. MORE» |
Newpark partners with Real Estate TogetherThursday, February 20th, 8:47AM 1 comment
Adviser group Newpark Home Loans has teamed up with real estate specialist Martin Dunn to help first home buyers onto the property ladder. MORE» |
When will mortgage wars end?
Aggressive price competition for mortgages may come to an end soon as the Reserve Bank's new capital rules kick in, according to a report from KPMG.
MORE»Heartland launches reverse mortgages for investors
Heartland has expanded its reverse mortgage business and will now lend against investment properties and second homes, as the product becomes more popular in New Zealand.
MORE»Low rates until 2022
ASB economists predict the next OCR tightening cycle will start in early 2022, with interest rates on hold throughout this year and next year.
MORE»Investors get chance to fund home loans through Squirrel; Harmoney exits
Squirrel has opened up its mortgage lending book to peer-to-peer funders, providing access to retail investors as Harmoney pulls out of the P2P market.
MORE»Prospa's first year in New Zealand
Beau Bertoli, joint CEO of non-bank business lender Prospa, sat down with TMM Online to discuss SME business opportunities for advisers, and lessons from the firm's first year in New Zealand.
MORE»