In its latest look at the banks KPMG notes that he lending environment continues to be flat, aggregate gross loans for survey participants reducing by 0.04% in the December quarter, increasing by 0.19% in the year. However profits are up. It says survey participants achieved a profit of $1,147m in the quarter, an increase of $77m compared to September 2011. December 2011 profits are $430m higher than those earned in the December 2010 quarter.
Banks still making lots of money
16 April 2012
Keen for the best rate and some cash too?
We've teamed up with award winning mortgage experts, Squirrel.
With over 1,425 five star reviews on Shopper Approved, Squirrel has helped thousands of Kiwis just like you secure the best possible rate when refixing or refinancing. Squirrel often beats the advertised rates so it's worth getting them to review your mortgage.
R
Ryan
New Zealand
The service I got from Squirrel was extremely efficient. They dealt with my loan so easily and achieved a result greater than what I was expecting.
J
Jo
New Zealand
Highly recommend Squirrel to sort out a mortgage with the banks takes the hassle out of going to separate banks with so much information they do the hard yards for you - Baz was a superstar and helped me all the way to my new home.