Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Banks well-positioned despite continuing uncertainty

27 July 2016

Banks well-positioned despite continuing uncertainty

KPMG’s Financial Institutions Performance Survey for the quarter ending March 2016 has found that banks’ strong performance positions them well in an environment of continuing global and domestic uncertainty.

“Our banks continue to be among the best capitalised in the world. This means we’re in good shape in the face of current pressures,” said Karen Scott-Howman, chief executive of the New Zealand Bankers’ Association.

“The KPMG report demonstrates that banks are taking a prudent and proactive approach to operating their businesses and managing risk in uncertain times,” Scott-Howman said.

“A strong banking sector underpins New Zealand’s economic wellbeing. Strong banks provide a platform for economic growth, both for our customers and for New Zealand Inc.”

The KPMG report also notes current regulatory initiatives, including the proposed introduction by the Reserve Bank of New Zealand of a 40 per cent loan-to-value (LVR) ratio for investors.

“Members of the New Zealand Bankers Association have given an assurance to the Reserve Bank that they will honour the spirit of the new LVR restrictions ahead of any formal implementation requirement.

“The banking sector is committed to working collaboratively with government and regulators to ensure that together we can achieve the best outcomes for New Zealand,” Scott-Howman added.

ENDS

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.