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Industry at a Glance 5-May-14

13 May 2014

New Zealand Bankers' Association

 

Banks supporting economic growth
Source: Scoop NZ - Business
Date Published: 07/05/2014

KPMG’s Financial Institutions Performance Survey analysis for the quarter to December 2013 released today has found that New Zealand’s economic development and the banking industry’s strength go hand-in-hand.


Australian News

 

Westpac joins rest with overseas shop fee
Source: The Age Business Headlines
Date Published: 05/05/2014

Online shoppers will no longer be able to avoid an undisclosed fee charged on overseas purchases made in Australian dollars.

NAB lifts cash profit 8.5%
Source: Sydney Morning Herald
Date Published: 08/05/2014

Meanwhile, earnings from the NAB Wealth division were flat at $174 million while New Zealand Banking earnings rose three per cent to $NZ400 million ($A372.39 million). © 2014 AAP Brought to you by aap. Twitter · submit to reddit · Email article · Print.

Is NAB floored or on the rebound?
Source: Sydney Morning Herald
Date Published: 09/05/2014

The March-half profit result that NAB handed down on Thursday was on face value the weakest of the big four banks. What remains to be seen is the extent to which NAB is laying the ground for results to come. NAB's underlying profit fell by 4.2 per cent 

Rural Bank's suitor was kept in the dark
Source: Sydney Morning Herald
Date Published: 10/05/2014
One of them, Rabobank Australia & N

New Zealand, initially briefed the Victorian Department of Premier and Cabinet about its interest in buying Rural Finance when the Brumby Labor government was in power. In a presentation led by Rabobank Australia and 


Current Issues

 

Data raids could cripple Australia
Source: New Zealand Herald - World News
Date Published: 06/05/2014

Australia is becoming increasingly vulnerable to cyber attacks that could shut down power grids, strip government and private business of sensitive personal data and rob millions of dollars from health systems, a report warns.Targets


Fare go: The meter is running
Source: New Zealand Herald - National News
Date Published: 10/05/2014

Four Herald staff caught cabs from Auckland Airport's international terminal to SkyCity yesterday, so we could compare their routes and what they were charged. We have been campaigning for fairer taxi fares after international

IRD may move on cheque payment
Source: Otago Daily Times: Business News
Date Published: 12/05/2014

People paying tax by cheque will need to be extra vigilant to avoid running foul of new rules proposed by Inland Revenue, Deloitte Dunedin associate tax director Phil Stevenson says.

12/05/2014: Business: Can payWave theft cause a debt tsunami ?
Source: The Dominion Post
Date Published: 12/05/2014

Dear Janine, I’m worried about the security on these payWave cards, as no Pin number is needed for purchases less than $80. I’ve had my card stolen in the past and a thief could spend $80 numerous times over in different shops. If I don’t realise the


Member Banks

 

Westpac post record half-year
Source: New Zealand Herald - Business
Date Published: 06/05/2014

An improving economy and a massive reduction in bad loans helped Westpac New Zealand post a record half-year profit, but the bank's boss is warning that higher interest rates will cause increased "cash flow stress" for customers.The

Bank of New Zealand profit soars
Source: Stuff.co.nz - Business
Date Published: 08/05/2014

Bank of New Zealand has reported a half-year net profit of $393 million, up almost a third from the same time last year.

Canstar announces annual Agribusiness award winner
Source: Scoop NZ - Business
Date Published: 09/05/2014

CANSTAR releases annual agribusiness award today: ANZ is awarded Best Agribusiness Bank New Zealand for third year running.

Westpac boss to take break
Source: Stuff.co.nz - Business
Date Published: 09/05/2014

Westpac New Zealand chief executive Peter Clare will step down temporarily at the end of the month for an operation on his heart.

New Zealanders complacent — BNZ boss
Source: 3 News - Politics
Date Published: 11/05/2014

Outgoing BNZ chief executive Andrew Thorburn says New Zealanders need more drive to make the most of business opportunities.


Governance

 

Govt deal offers cheap loans
Source: Stuff.co.nz - Business
Date Published: 05/05/2014

A Government initiative will offer interest-free and low-interest loans to low-income borrowers banks don't normally lend to.

Privacy matters for banking customers too
Source: Scoop NZ - Politics
Date Published: 07/05/2014

Privacy Week highlights everybody is entitled to privacy but the public may be surprised to learn the Banking Ombudsman Scheme also deals with privacy complaints, says Banking Ombudsman Deborah Battell. “Some cases show failings in bank procedures and the

Bank profits reach Everest proportions
Source: Scoop NZ - Politics
Date Published: 09/05/2014

Bank profits for the last 6 months have reached Everest proportions with an average 17 percent increase over the previous half year at a time when more New Zealanders than ever before are living on the bread line.


General

 

Retail spending on credit, debit cards rises in April
Source: New Zealand Herald - Business
Date Published: 09/05/2014

New Zealand retail spending on credit and debit cards rose in April as gains in hospitality and consumables offset falling apparel purchases, as an accelerating economy continues to underpin household confidence. The value of retail

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