Posts Tagged ‘banks’
Interest Rates »
ANZ and the National Bank have both increased rates for most terms of 18 months or more. The one rate they haven't changed is for a two-year term. The increases are all in the 10 to 15 point range. Much of the attention has been on ASB for hitting the 8.00% mark with its five-year rate. ANZ has increased its five year rate 14 points to 7.99%, [...]
Banks Told To Lower Profits »
Finance Minister Bill English has told banks to lower their profits, after the four big Australian-owned lenders reported total profits in excess of $4.5 billion. It always amazes me when the Banks make statements about how tough it is yet unlike many other businesses that are actually loseing money they are merely not making as much as [...]
Banks must continue to Lend »
The Reserve Bank says that banks must continue to lend to "creditworthy" borrowers. In releasing its six-monthly Financial Stability Report today, the central bank warned that credit growth had slowed in recent months. "Lending criteria have tightened and some businesses are reporting difficulties in obtaining credit," RBNZ Deputy Governor Grant [...]
Banks Profit While Others Suffer. »
The following article is produced from the NZX site. Remember this is just my opinion and not that of Professional Investment Services (powered by Financial Gain), I am just one of the many people who make up the group (see more here at our main site www.nzpis.com ) The article talks about the profit made by the BNZ and NAB yet other commentary [...]
Broking Industry ready to die. »
Brokers could foot the bill as insurers look to cover themselves from the worsening economic environment by increasing premiums on professional indemnity insurance. According to The Australian Financial Review, businesses are facing double digit increases in indemnity insurance premiums as insurers prepare for a surge in negligence claims as a [...]
The Road to Recovery »
This great article was provided today by Financial Alert. It is great reading and the visual of the market share for the banks is fantastic. The road(s) to recovery by Graham Rich | Monday, 23 February 2009 Capitalism is in the throes of its most severe crisis of our lifetime - and then some more years. A combination of deep global [...]
Fantastic Drop »
The Reserve Bank yesterday reduced the official cash rate (OCR) by 150 basis points to 3.5%. Kiwibank was the first bank to reduce its rates with Westpac following closely behind. At the end of day all the other major banks had followed suite and made reductions to rates across the board, some passing on up to 100 basis points or more. All the [...]
