Westpac says the Reserve Bank’s bank capital proposals will mean homeowners with an average mortgage in Auckland will be paying about $6,000 a year more in interest.
The Serious Fraud Office, with the assistance of the Financial Markets Authority, has executed search warrants on Thursday in relation to an investigation concerning the Dunedin-based financial adviser.
Four smaller banks have warned that the Reserve Bank's new capital proposals could inadvertently widen the competitive gap between them and the big four.
Loan to value ratio restrictions play a crucial role in promoting financial stability, the Reserve Bank has concluded, following a review of macroprudential policy.
Small business lending specialist Prospa, has appointed two business development managers, including Resimac's former sales manager, to support its growing New Zealand operation.
Australian non-bank lender Pepper Money has taken a big step into the New Zealand market by signing a partnership deal with Astute.