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Articles tagged with 'ASB'

A good time to buy?

15 February 2019 - There’s slowing price growth and subdued sales nationwide – and yet a new survey shows the number of people who think it’s a good time to buy a house is at a five and a half year high.

Confidence in rental property at 4 year low

11 February 2019 - Investors’ belief that rental property is the investment most likely to generate good returns just keeps diminishing, the latest ASB Investor Confidence Report shows.

Confidence falls

11 February 2019 - New Zealand investor confidence is at its lowest level in more than two years, a new survey shows.

OCR Preview: caution expected from the Reserve Bank

8 February 2019 - Economists do not believe the OCR will change next week, but predict the Reserve Bank will take a cautious stance on future growth, with a number of headwinds for New Zealand and the global economy.

Consents reach peak level

4 February 2019 - New dwelling consents have hit a 14 year high and one economist believes they are now at the level required to keep pace with population growth.

Auckland sales at 10 year low

17 January 2019 - Sales volumes around the country slumped to long time lows in December in the latest REINZ data, providing more evidence of how the market has changed.

Bank AFA force broadly steady

18 December 2018 - New Zealand banks are bucking international trends by holding on to their advice forces.

Summer bounce means record prices

14 December 2018 - House prices hit record highs around the country – apart from in Auckland where they are flat-lining, the November data from REINZ shows.

Knowledge still lacking on KiwiSaver

10 December 2018 - New Zealanders still have a lot of unanswered questions about KiwiSaver, a new survey shows.

Sub 4% rates unlikely to return

6 December 2018 - ASB has joined its major rivals and bumped its fixed one year rate to more than 4%, and advisers predict sub 4% rates are unlikely to return any time soon.

Sales surge up in Super City

5 December 2018 - Concerns that Auckland might soon follow the Sydney and Melbourne markets in their downward spiral should be alleviated by new Barfoot & Thompson data.

Boom times for Auckland consents

30 November 2018 - Residential building activity is hitting new heights in Auckland with the city now seeing the highest level of new dwelling consents being issued since the early 1970s.

LVR easing will prompt modest growth

28 November 2018 - Don’t expect the housing market to take off at a runaway pace following the Reserve Bank’s announcement that the LVR restrictions will be eased from early next year.

LVR loosening: advisers react

28 November 2018 - Advisers say the Reserve Bank’s decision to loosen LVR restrictions will boost homebuyers, but warn tighter credit and loan servicing conditions will restrain volumes.

LVR restrictions eased for investors

28 November 2018 - The Reserve Bank has today loosened the LVR restrictions for both investors and owners-occupiers, with changes coming into effect in January. 

Belief in rental investment returns cools

26 November 2018 - New Zealand investors’ love of rental property is waning, with confidence in its potential returns now at its lowest level in four years.

ASB plays down fee-for-service talk

20 November 2018 - ASB has played down speculation it will follow owner CBA by supporting a fee-for-service model for mortgage advice, following comments made by CBA CEO Matt Comyn to the Royal Commission this week.

ASB predicts mild OCR cycle

19 November 2018 - ASB's quarterly outlook for the New Zealand economic predicts "sunny skies ahead", with low rates until the second half of 2020 and a peak of just 2.75% in the next OCR cycle.

House buyer sentiment hits 5 year high

12 November 2018 - Growing numbers of New Zealanders think the times are improving for those wanting to buy a house, ASB’s latest Housing Confidence Survey shows.

OCR reaction: cut less likely and rates to stay low

8 November 2018 - Economists believe the Reserve Bank has adopted a slightly more hawkish stance on the OCR, but say the unchanged forecast suggests a continued low interest rate environment.

Kiwibank changes special

5 October 2018 - Kiwibank has decided to raise rates for its 2 year fixed term loan by 16 basis points.

BNZ joins Kiwibuild buyer battle

26 September 2018 - BNZ is rivalling ASB with a special offer for Kiwibuild home buyers, including 95 percent loans for the government-backed homes.

OCR to stay at record low: Preview Survey

21 September 2018 - New Zealand’s top economists predict the Reserve Bank will hold the Official Cash Rate next week,  as the central keeps a close watch on GDP growth and inflation.

Rod Carr returns to banking

12 September 2018 - Rod Carr, the former chairman and acting governor of the Reserve Bank of New Zealand, has joined ASB's board of directors.

Two banks rate cuts + People News

12 September 2018 - Two banks have cut rates today. The most significant is TSB which has taken the knife to its longer term rates. The cuts made are between 36 and 70 basis...

ASB offers Kiwibuild sweeteners

7 September 2018 - ASB is offering a $2,500 sweetener to KiwiBuild home buyers and 95 percent mortgages for eligible customers.

OCR to peak at 2.75 percent: ASB

27 August 2018 - Economists at ASB believe New Zealand is set for a long-term low interest rate environment, with the OCR to peak at just 2.75 percent in the cycle.

Investor confidence drops

20 August 2018 - Managed funds’ strong performance over recent years hasn’t been enough to convince investors they should put their money in them.

Lower long-term rates predicted

17 August 2018 - Advisers and economists have predicted lower interest rates for longer, after Westpac slashed its five year fixed rate by 60 basis points.

Consumers expect rate rise: ASB

16 August 2018 - Respondents to ASB’s latest Housing Confidence Survey expect interest rates to go up in the next 12 months, despite increasingly cautious language from the Reserve Bank.

REINZ data suggests

15 August 2018 - Auckland property is becoming increasingly attractive to buyers, according to ASB, after latest REINZ data revealed flattening prices continued into July.

Reserve Bank springs surprise with dovish OCR forecast

9 August 2018 - The Reserve Bank surprised economists by signalling it may keep the OCR rate at 1.75 percent until 2020, pushing back its forecasts in a dovish statement this morning.

ASB predicts “mild” OCR increase

5 July 2018 - Lender ASB believes there will be a “mild” tightening cycle at the Reserve Bank, with floating and fixed rate mortgages expected to remain stable until the end of next year.

OCR words open door for cut

28 June 2018 - Subtle change of tone in this morning’s OCR announcement suggests the Reserve Bank may now be more willing to cut the OCR if need be, commentators say.

OCR to stay on hold

25 June 2018 - Don’t expect to see a change to the OCR this week as economists predict the Reserve Bank’s song will remain the same for a long time.

ASB, Westpac tweak servicing tests

8 June 2018 - Two of the biggest banks in New Zealand have made adjustments to their loan servicing criteria in recent weeks, amid toughening conditions for loan applicants

Applause for OCR call

10 May 2018 - New Reserve Bank Governor Adrian Orr has earned plaudits from economists for his first OCR announcement this morning – even though the decision itself was not a surprise.

All eyes on Orr in lead-up to OCR call

4 May 2018 - Thursday’s monetary policy statement (MPS) is the most keenly anticipated Reserve Bank outing in many months – but it’s due to the new Governor, not the OCR outlook.

New CEO for Kiwibank

26 April 2018 - Kiwibank announced today that former ASB executive Steve Jurkovich will be taking the helm as the bank’s fourth chief executive.

Mortgage People founders launch online brokerage

18 April 2018 - The two industry veterans behind Mortgage People, Carey Brunel and Glenn Christie, have launched a new online mortgage adviser and price comparison site.

'Information gap' harming KiwiSaver outcomes

26 February 2018 - KiwiSaver investors still lack the knowledge required to make good choices about the investments, ASB’s latest KiwiSaver survey shows.

Market wobble highlights value of advice

9 February 2018 - Share market volatility this week caused little concern for KiwiSaver members – and that could be down to financial advisers doing their job.

Low interest rates set to continue

8 February 2018 - Interest rates look set to remain low for a considerable amount of time following the Reserve Bank’s Monetary Policy Statement (MPS) and OCR call this morning.

Advisers have role to boost confidence

5 February 2018 - New Zealanders have a growing need for financial advice, a new report on investor confidence indicates.

Rethinking retirement assumptions

2 February 2018 - Advances in healthcare and technology have improved life expectancy in New Zealand at a staggering rate – by almost two years every decade since 1960.  Investors retiring at 65 should be preparing for a long retirement.  In this commentary John Berry asks how long should advisers target for their clients’ savings to last, and do historic assumptions for growth asset allocations for retirees need a rethink?

Ups and downs from ASB today

26 January 2018 - ASB and Sovereign have made changes to three rates today. It has dropped its 18-month Special 16 basis points, but hiked the Standard and Special two-year...

New Zealand values most stretched in world

26 January 2018 - New Zealand equities are the most highly valued in the world on a price-to-earnings basis according to a ranking of MSCI indexes, but local commentators say that’s not necessarily cause for concern.

House prices pick up, but volumes low

18 January 2018 - The latest REINZ numbers show that the housing market has turned the corner, but there is a lot of variation around the regions.

Squeeze on financial recruitment

11 January 2018 - A tough hiring environment may force banks and other financial institutions to take a broader approach to finding financial advisers this year.

New ASB boss appointed

15 December 2017 - Commonwealth Bank of Australia group marketing & strategy executive Vittoria Shortt will be ASB’s new chief executive, it was announced today.

Focus on financial crime

12 December 2017 - The New Zealand Police Financial Intelligence Unit (FIU) and the five major New Zealand banks are to run a year-long pilot of the New Zealand Financial...

LVR changes won’t prompt market frenzy

4 December 2017 - The Reserve Bank’s easing of the LVRs could give some upward momentum to house prices but economists are not expecting the market to take off again.

LVR easing sooner than expected

29 November 2017 - The Reserve Bank’s decision to start relaxing the LVR restrictions early next year, which was announced in today’s Financial Stability Report, has taken economists by surprise.

LVR speculation rife ahead of FSR

28 November 2017 - Expectations that the Reserve Bank might loosen the LVRs in this week’s Financial Stability Report (FSR) are running high, but economists don’t think it will happen – yet.

Staunch opposition to DTI proposal

24 November 2017 - Opposition to the inclusion of debt-to-income ratios (DTIs) in the Reserve Bank’s macro prudential tool kit is widespread, the bank’s own consultation reveals.

Economic outlook still positive: ASB

15 November 2017 - Investors are being told to expect less economic growth over the second-half of the year – but the slowdown should not last.

FSLAB could be slower

24 October 2017 - Progress of the Financial Services Legislation Amendment Bill may be slower under the new Labour-led government than it might have been under National.

Looking ahead with new government

20 October 2017 - New Zealand’s new government will be a Labour-NZ First coalition, supported by the Green Party, and that means changes are looming that advisers need to be aware of.

ASB chief executive steps down

2 October 2017 - ASB chief executive Barbara Chapman announces plans to step down.

Growth outlook overshadows OCR call

28 September 2017 - New Zealand’s lower economic growth was acknowledged by the Reserve Bank in its OCR statement today – which means there's a chance their next call could be more doveish.

ASB keeps ownership of Sovereign Home Loans

25 September 2017 - Although Commonwealth Bank has sold Sovereign to AIA, the insurer’s $7 billion home loan book isn’t part of the deal.

Caution to dictate OCR call this week

25 September 2017 - Uncertainty is bubbling beneath the surface of monetary policy but, despite this, economists expect the Reserve Bank to leave the OCR on hold at 1.75% this week.

Peters as Kingmaker: What next for investors?

25 September 2017 - New Zealand may be on tenterhooks waiting for New Zealand First leader Winston Peters' coalition decision, but investors do not have cause to worry ... yet, commentators say.

Advisers welcome Sovereign sale news

22 September 2017 - Advisers are optimistic about the future for Sovereign, which will be bought by AIA.

Sovereign sold

21 September 2017 - The Commonwealth Bank of Australia has confirmed it has sold its insurance business in Australia and New Zealand for A$3.8 billion - the sale include Sovereign.

Labour would change Reserve Bank - so what?

21 September 2017 - A change of government this weekend could mean a new direction for the Reserve Bank and another element for investors to understand.

Good Returns' columnist takes out top award

11 September 2017 - The Financial Services Council and Workplace Savings handed out awards to industry leaders and funds at its conference last week. Here are all the winners.

Ex BNZ worker admits mortgage fraud

6 September 2017 - A former BNZ mobile mortgage manager has admitted to dishonestly using bank documents to obtain more than $1.5 million in loans for two properties.

ASB narrows gap between carded and Special rates

1 September 2017 - In an interesting move today ASB and Sovereign have lowered fixed rates across the board. However, so-called Specials have generally only gone down 10...

Softer market better time to buy

25 August 2017 - Good news for advisers: softer price growth is starting to improve perceptions of whether it is a bad time to buy a house, a new survey suggests.

Big week for ASB

11 August 2017 - What an interesting week it has been for ASB Bank. First up the bank cracked the $1 billion profit mark for the first time ever. While some people will look at this with opprobrium it's a credit to the bank especially considering how difficult the lending environment is at the moment.

ASB, Bank Direct and Sovereign move down

11 August 2017 - ASB and its related entities have cut their carded two-year rates, with the standard and Special all coming down five basis points each. It's an interesting...

No dovish nod to future for RBNZ

10 August 2017 - The Reserve Bank’s OCR statement made it clear hikes are a long way off but its tone was still far less dovish than economists were expecting.

ASB lauds fixed rate rollovers

9 August 2017 - ASB talked up its investments in digital technology, such as its fixed rate rollover tool, when it announced its first-ever $1 billion profit, but one of its first ventures into offering new services to customers looks doomed.

ASB's billion dollar profit

9 August 2017 - First Cut - ASB has reported statutory net profit after tax of $1.07 billion for the 12 months to June 30. This represents a 17% increase on the prior comparative period. (Full story to follow)

Future could hold OCR cuts

6 August 2017 - Think the OCR will stay on hold this week? So do economists – but some also say there is growing scope for the Reserve Bank to cut again.

PAA talks through concerns with ASB

3 August 2017 - PAA chairman Bruce Cortesi has told members the association had an “open, honest and fruitful” conversation with ASB,  as it works to tackle bank practices it says undermine advisers.

Make sure clients are correctly invested

31 July 2017 - Advisers should explain to their clients why market conditions are as they are – and what might cause them to change, one economist says.

ANZ launches scheme to help retain KiwiSaver clients

14 July 2017 - ANZ is launching a new system through which it hopes to hold on to more of its KiwiSaver members.

Hawkish talk foreshadows rate rises

5 July 2017 - Tightening talk is coming from central banks around the world – although not New Zealand’s – and that means more interest rate movement is on the cards.

Game of watch and wait for OCR

22 June 2017 - Watchful caution is guiding the Reserve Bank’s policy so it will need strong evidence before it makes any change to the OCR, economists say in response to this morning’s OCR call.

Is the writing on the wall for handwritten loan apps?

15 June 2017 - Handwritten loan applications may be on the way out for ANZ but are any of the other banks rushing to follow suit?

ASB: Confidence up, but advice needed

10 May 2017 - A new survey points to the value of financial advice in making sure retirees have cash to live on, as well as a roof over their heads.

New head of ASB Securities

2 May 2017 - Former AFA becomes head of ASB Securities.

ASB pulls pricing lever on home loans

15 February 2017 - ASB is cautiously navigating its way through the competitive and complex home loan market, the bank's chief executive Barbara Chapman says.

Banks to clamp down on cashbacks

10 February 2017 - Advisers may find it a lot tougher to get their clients cash back this year as banks clamp down on sweeteners.

Banks of the future may offer customers less choice

10 February 2017 - New report says the way forward for banking may be to target a niche group of customers and offer a smaller range of easier-to-understand products, particularly mortgages.

OCR hike expectations premature

9 February 2017 - Markets have got ahead of themselves in OCR hike expectations – and the Reserve Bank’s OCR announcement this morning makes that clear, the experts say.

OCR hike to come - later

24 January 2017 - The Reserve Bank’s next OCR move is likely to be up – although it won't be for a while, a new HSBC report says.

Slow building consent trend concerning

20 January 2017 - Dwelling consents may have just hit a new high, but the trend is slowing – and that’s a worry, particularly for supply-strapped Auckland, economists...

New general manager for Aegis

16 January 2017 - ASB has named a new general manager of its investment platform Aegis.

Housing market NZ’s biggest domestic risk - RBNZ

8 December 2016 - New Zealand’s highly charged housing market is the biggest domestic economic risk facing the country but no change to the OCR is on the horizon, the Reserve Bank governor says.

ASB appoints new senior executive to lead its retail business

7 December 2016 - ASB has appointed Russell Jones to the role of executive general manager retail banking, on ASB’s executive leadership team. Jones is currently ASB’s...

DTIs not in the near future - economists

30 November 2016 - Concerns about the increase in debt relative to incomes mean the Reserve Bank want the tools to address the issue, but economists don't expect to see them introduced anytime soon.

Post-earthquake OCR cut unlikely

18 November 2016 - Don’t expect the Reserve Bank to cut the OCR again following the earthquakes earlier this week - despite the damage and disruption they have caused, economists say.

Brokers unhappy with ASB's new refix process

17 November 2016 - ASB has introduced a new electronic process of dealing with home loan refixes which is undercutting mortgage advisers on rates and terms.

First taste of roboadvice bitter for brokers

17 November 2016 - Mortgage advisers are getting an early taste of what roboadvice may look like, and it's pretty unpleasant.

US election casts shadow over OCR response

10 November 2016 - Spectre of US election result looms over reaction to this morning’s OCR cut, but economists say it is too soon to say what impact it might have on the Reserve Bank’s future moves.

OCR cut no surprise

10 November 2016 - Reserve Bank switches to a more neutral stance as it cuts interest rates.

20 year low in buyer sentiment

9 November 2016 - House buying sentiment has fallen to a historic 20 year low, the latest ASB Housing Confidence Survey reveals. Read more.  ...

ASB issues notes

7 November 2016 - As part of its efforts to raise tier two capital in line with capital requirements, ASB is offering $250 million in subordinated unsecured convertible notes.

ASB raises fixed rates

4 November 2016 - ASB has raised all its fixed mortgage rates for terms of three years and longer.  This comes as wholesale swap rates have moved sharply higher in...

Next OCR cut to be the last - ANZ

26 October 2016 - The OCR should trough at 1.75% in November as the Reserve Bank’s next cut is likely to be the last one in the current cycle, ANZ has suggested.

Inflation result won’t stop OCR cut

18 October 2016 - Inflation was slightly above forecasts in the September quarter, but the result is not likely to deter the Reserve Bank from cutting the OCR next month.

New LVR rules kick in

3 October 2016 - Banks have had to cancel some preapprovals for investors, which were issued before the recent change to loan-to-value restrictions.

Concern non-underwritten products not well explained

26 September 2016 - A lack of information may have caused some customers to take out expensive, non-underwritten insurance policies, when they would easily have qualified for normal cover, it has been claimed.

OCR call sticks to the script

22 September 2016 - Keeping the OCR on hold was the move expected of the Reserve Bank today, but economists say it means there will be another cut in November.

ASB watching robotics development

19 September 2016 - ASB says it is monitoring its Australian parent’s development of social robotics. CBA innovation solutions manager Will Judge told the Xerocon South...

Expect OCR cut in November - economists

24 August 2016 - Further OCR cuts are looming strongly on the horizon in the wake of the Reserve Bank’s speech yesterday, economists have said.

House prices growing risk for banks – S&P

23 August 2016 - Skyrocketing house prices mean New Zealand banks are facing increased economic risks and will now have higher risk weights, a global ratings agency has said.

HSBC breaks record with with new low home loan rate

17 August 2016 - If there was an Olympics of home loan lending then HSBC has arguably just taken the gold medal.    [READ ON] Applause and relief has greeted...

Survey - Bad time to buy a house

16 August 2016 - Growing numbers of people around the country think that now is a bad time to buy a house, a new ASB survey shows. Read more.  ...

Low interest rates driving customers to wealth products: ASB

10 August 2016 - ASB says it has seen sustained momentum in its funds management business over the 12 months to June 30 with income growth up 15%. Chief executive Barbara...

ASB profits up; Not worried about Auckland house prices

10 August 2016 - Growth in its lending book has helped ASB report a sixth-straight annual profit increase while net interest margins have been squeezed.

Housing market simmering down?

9 August 2016 - New Zealand’s housing market has been on the boil this year, but ASB predicts it is set to cool to a simmer in the year to come. Read now. ...

Quieter times ahead for housing market - ASB

8 August 2016 - New Zealand’s housing market has been on the boil this year, but ASB predicts it is set to cool to a simmer in the year to come.

Little doubt OCR cut coming

5 August 2016 - Rare consensus reigns on the OCR forecast front with economists across the board expecting the Reserve Bank to cut the OCR next week.

Lender of the year named

28 July 2016 - Find out who has been named lender of the year at the Professional Advisers Association today.

Top lenders of the year named

28 July 2016 - The Professional Advisers Association has handed out its top awards to lenders and a business development manger today.

Reserve Bank signals more OCR cuts

21 July 2016 - The Reserve Bank says more official cash rate cuts are likely as it fights to get inflation into its target range.

Banks already introducing tougher rules for property investors

20 July 2016 - [UPDATED - ANZ position added] Three banks, and Sovereign, have introduced tougher new LVR rules for property investors.

Future OCR cuts dependent on inflation

7 July 2016 - Persistently subdued inflation means a further OCR cut looks likely, but economists are suggesting that the tide may have turned on multiple cuts.

Hard to find right advice fit

4 July 2016 - New legislation is helping financial advisers move from a product focus to a relationship focus for their businesses, ASB’s general manager of wealth says. But despite increasing demand for good advice, finding the right advisers for the job is tough going.

Banks tighten belt on foreign borrowing

14 June 2016 - Home loans for overseas buyers have become more difficult as ASB is the latest bank to limit its foreign borrowing. Read more. ...

ASB joins other main banks in limiting foreign borrowing

13 June 2016 - ASB has joined Westpac, BNZ and ANZ in making it tougher for overseas purchasers to get a home loan.

Financial stability reason for unchanged OCR

9 June 2016 - The Reserve Bank may have left the OCR unchanged – due to a more upbeat economic assessment - this morning, but economists continue to expect a further cut to come.

OCR calls favour hold

3 June 2016 - Not so long ago most economists were picking that another OCR cut would be announced at next week’s Reserve Bank meeting, but now the mood has changed.

OCR on hold till August - HSBC

30 May 2016 - Strong growth and a booming housing market mean that HSBC now expects the Reserve Bank to hold off on an OCR cut until August.

Budget unlikely to change Reserve Bank views

27 May 2016 - It’s been described as a no surprises, boring Budget, but what might Budget 2016 mean for interest rates?

Inflation concerns could mean June cut

23 May 2016 - Low inflation expectations are feeding OCR projections of a June cut, but it’s still possible other factors may edge that timing out.

ASB appoints new boss for wealth and insurance

19 May 2016 - Adam Boyd has been appointed as Executive General Manager Wealth and Insurance at ASB Bank. Boyd has been with ASB since 1995 and is currently...

Nick Tuffley's interest rate update

11 May 2016 - ASB Bank chief economist Nick Tuffley talks to TMM publisher Philip Macalister about where interest rates are headed and what strategy borrowers should take in this low interest rate environment.

ASB encourages borrowers to go long

6 May 2016 - ASB (along with Sovereign, Bank Direct and NZ Home Loans) have bumped up short rates, and lowered the two-year rate. No doubt the move is designed to encourage...

ASB: The only way is up

3 May 2016 - New Zealand’s economic growth is set to head upwards over the next couple of years, while interest rates dip further, a new report says. Read more.  ...

Onwards and upwards

3 May 2016 - New Zealand’s economic growth is set to head upwards over the next couple of years, while interest rates dip further, a new report says.

OCR hold right call – for now

28 April 2016 - Leaving the OCR on hold today was the right decision, but there will be further cuts down the track, economists say.

Odds against OCR cut

22 April 2016 - An OCR cut this week is a live call, but most economists think the Reserve Bank will wait a bit longer before cutting again.

Predicting the RBNZ's next OCR announcement a head scratcher

13 April 2016 - It's just over a fortnight now until the Reserve Bank makes its next Official Cash Rate announcement. After the surprise cut last time and a mixed bag of economic news since then, economists are scratching their heads to try and predict if the OCR will stay at 2.25% or be cut.

More OCR cuts to come - ASB

21 March 2016 - Further OCR cuts will be needed for the Reserve Bank to get the economic stimulation it needs, ASB predicts.

ASB cuts fixed rates

14 March 2016 - What interesting times we live in. Banks have passed on some of the OCR cut to borrowers on floating rates, but not the full 25 basis points (except for...

Banks offer value: Morningstar

2 March 2016 - Morningstar says investor negativity about Australasian banks is misplaced.

ASB drops low-equity fee

16 February 2016 - ASB’s decision to replace its one-off low-equity fee with a low-equity margin is being tipped to put pressure on the only major bank left in the market offering a fee.

Slow growth expected

16 February 2016 - ASB predicts a a slow start to 2016 for the economy, which strengthens the case for further cuts to the OCR. Read here. ...

Dropping rates should boost slow growth

16 February 2016 - There will be a slow start to 2016 for New Zealand’s economy – which adds to the case for further OCR cuts, according to ASB.

Record profit for ASB

11 February 2016 - ASB has delivered a record half-year profit, backed by strong lending growth although competitive forces kept pressure on lending margins. Read here.  ...

ASB regains market share and sticks with commission model

10 February 2016 - ASB has picked up its home loan lending volumes to be in line with market growth after losing market share for nine consecutive quarters.

ASB reports record half

10 February 2016 - ASB has delivered a record half-year profit, backed by strong lending growth although competitive forces kept pressure on lending margins.

Banks cut cash PIEs to half OCR

9 February 2016 - Low interest rates on offer from the four main banks’ cash PIE funds are likely an indication of the tough times for people surviving on money in the bank, one commentator says.

Banks cut cash PIEs to half OCR

9 February 2016 - Low interest rates on offer from the four main banks’ cash PIE funds are likely just an indication of the tough times for people surviving on money in the bank, one commentator says.

OCR cut outlook shifts

4 February 2016 - Views on the prospect of an OCR cut have shifted following the Reserve Bank governor’s speech and the release of new labour data yesterday.

Reluctance to cut may be wrong

10 December 2015 - Predictions of further cuts and analysis of changes in tone flow following the Reserve Bank’s OCR cut this morning.

Odds are on an OCR cut

4 December 2015 - Expectations of a cut to the OCR next week are riding high – although some economists have divergent theories.

More OCR cuts to come

16 November 2015 - Weakness in the dairy sector means OCR cuts are on the way, ASB says.

Confidence in rising house prices dwindling

6 November 2015 - Fewer people expect house prices to rise, ASB's latest survey shows.

GFS gets lending award

20 October 2015 - Auckland mortgage broker firm Global Financial Services (GFS) has been recognised for writing the most business for ASB in the past year.

KiwiSaver members want DIY approach

25 September 2015 - Most KiwiSaver members want to be able to take a DIY approach to their investments, ASB’s GM of wealth says.

BNZ moves; ASB tries to get people moving

14 September 2015 - BNZ has today lowered pricing on its floating home loan rate products including its Total Money Offset loan. In other news ASB has launched a competition...

Lending up but profits flat

7 September 2015 - New Zealand’s five major banks* profits flattened in the second quarter of 2015, although lending growth continued, according to a new analysis by PricewaterhouseCoopers (PWC).

Property prices to blame for S&P downgrade

18 August 2015 - 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.

No plans for trail from ASB

13 August 2015 - Mortgage advisers can rule out ASB introducing trail commissions anytime soon, according to comments from chief executive Barbara Chapman.

Home loan lending takes lower prominence at ASB

13 August 2015 - ASB has been growing its home loan book at a slower rate than the market and is looking for other parts of the business to continue its profitability increases.

ASB ditches reverse mortgages

7 August 2015 - ASB’s decision to stop offering reverse mortgages is likely an indication of a lack of demand for the product, a banking expert says.

OCR cut on the cards this week

17 July 2015 - Predictions of multiple OCR cuts by the end of the year are coming thick and fast - with the next one expected on Thursday.

Falling business confidence points to... OCR cuts

7 July 2015 - A sharp decline in business confidence has led ASB to formally join the economists predicting three more OCR cuts by the end of the year.

ASB ditches TVs and stereos for AB gear

3 July 2015 - ASB is offering All Blacks gear to people who take out loans of more than $100,000 with its new special offer. The rate on the one-year special is 10 basis...

Falling dairy prices to prompt OCR cuts

2 July 2015 - OCR cut predictions have taken a big step up following the latest fall in dairy prices.

Please Sir, Can I borrow more

1 July 2015 - Credit growth is running at its fastest pace since the Global Financial Crisis.

Banks net interest income falls - PwC

24 June 2015 - A decrease in the net interest income of New Zealand’s major banks reflects the current highly competitive lending environment.

Wasn't expecting this

16 June 2015 - ASB et al have cut fixed rates. The biggest are 50 basis points off its one and two year and 18 month rates. One of the cool tools we have now is that...

ASB records bumper lending in first quarter

28 May 2015 - ASB reported strong lending in the three months to March this year, and the bulk of that has come from borrowers with more than 20% equity in their loans.

ASB gets more aggressive with pricing

22 May 2015 - ...

Cash back or rate cut; What would you take?

15 May 2015 - Sovereign has rolled out a very special one-year rate which begs the question what do clients want? Cash or a sharp rate. 

ASB now calling for two OCR rate cuts

7 May 2015 - ASB economists have changed their view on the OCR and gone from a 50:50 chance of an interest rate cut to predicting the Reserve Bank will cut the cash rate two times this year.

SBS changes; ASB hikes commission rates

4 May 2015 - SBS has today rolled out a 5.35% special rate for two, three and five year fixed home loans.  These are for for new customers with at least $100K...

ASB and Sovereign increase upfront commissions

1 May 2015 - ASB and Sovereign have, from today, increased the amount of upfront commission they will pay to mortgage advisers.

Poor turnaround times hurt advisers

23 April 2015 - Advisers are frustrated with having to cope with unacceptable delays in loan processing with lenders. 

Reporting rules cause confusion

22 April 2015 - Advisers are worried new reporting requirements for wrap providers may be confusing their clients.

Bank lending up, but profits down

9 March 2015 - New Zealand’s five major banks (ANZ, ASB, BNZ, Kiwibank and Westpac) have continued to show solid lending growth in the fourth quarter of the 2014 calendar year but total reported profits are marginally down.

Where are the financial advisers?

26 February 2015 - One of the country’s biggest banks is having trouble recruiting financial advisers.

ASB reports strong profit but dip in home loan market share

11 February 2015 - ASB has reported a “good solid” half-year profit, based on strong underlying growth across the bank’s operating divisions.

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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 4.45 4.69 4.89
ASB Bank Special - 4.05 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - ▼4.05 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% - - - -
HSBC Special - 3.95 3.95 3.95
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.80 4.94 5.24
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 ▲4.19 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 5.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.05 4.29 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - 4.05 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.29 4.49
The Co-operative Bank - Standard 5.75 4.00 4.79 4.99
TSB Bank 5.80 4.55 4.69 4.99
TSB Special - 4.05 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 - 3.99 4.29 4.59
Median 5.89 4.50 4.69 4.84

Last updated: 11 February 2019 10:01am

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

Upfront 40% + trail 20%

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Upfront 50% + trail 20%

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Upfront 60% + trail 20%

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