Latest Intelligence on Retail Banking and Lending in New Zealand

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Type Product title / description Pub Price
Expert View
Expert View

Social media no shortcut to salvation for BNZ

BNZ in New Zealand is the latest bank to boost customer engagement by creating an online forum. However, banks must back up their social media efforts with actual improvements to products and services to convince consumers of their good intentions.

Published By Datamonitor
22 Oct 2014
CommentWire
CommentWire

ANZ: bad debts partly offset by consumers' preference for major banks

On October 29, ANZ revealed that increased bad debts would reduce its profits for the 2009 financial year by 11% to A$2.94 billion, although there were also positive aspects to the company's results, with its revenues rising by 17%. Large banks such as ANZ need to exploit their size advantage to maintain market share as the economy recovers.

Published By Datamonitor
30 Oct 2009
CommentWire
CommentWire

Standard Chartered: sets it sights on specialty clients

Standard Chartered has launched two client initiatives to tap into the wealthy Australian expatriate market in Europe and to target sports professionals. These customers represent very attractive markets for private banks to capture, but providers will need to clearly understand their unique needs in order to succeed.

Published By Datamonitor
17 Jul 2009
CommentWire
CommentWire

ANZ: lowers dividend

Despite previous assurances, major Australian bank ANZ has announced that it is slashing its dividend by up to 25%, as a result of the global financial crisis. Although ANZ is the first of the large Australian banks to announce such a move, its rivals, including Commonwealth Bank and National Australia Bank, are now more likely to follow suit.

Published By Datamonitor
27 Feb 2009
CommentWire
CommentWire

ANZ National: offshoring may damage reputation

According to the financial workers union, ANZ National has announced that it will cut 100 local jobs, offshoring 90 of the positions to India. The union also claimed that the bank turned its back on prior public commitments to provide all affected workers with alternative roles. ANZ National's decisions will ultimately damage its public image, while also hurting the team morale of its workers.

Published By Datamonitor
02 Feb 2009
CommentWire
CommentWire

RBS: disposals program runs into trouble

RBS has more problems on its hands following the breakdown of talks with National Australia Bank over the proposed sale of ABN Amro's Australian and New Zealand business, which RBS currently owns. The bank's continuing problems are in striking contrast with the successful consumer finance disposals programs initiated by its cash-strapped rivals.

Published By Datamonitor
28 Jul 2008
CommentWire
CommentWire

Online mortgage auctions: shaking up New Zealand's home loans market

Fundit Holdings has launched a new website in New Zealand that allows home owners to put up online auctions for their mortgages. So far, the service has received a tentatively positive response in the marketplace. However, it may take longer than anticipated for this service to hit it off as many customers are still cautious when committing to high-value long-term products online.

Published By Datamonitor
31 Aug 2007
CommentWire
CommentWire

Westpac: giving debit where it's due

Westpac has invigorated New Zealand's card market with the launch of its Debitplus Visa card. This should prove a shrewd move for the bank as schemed debit cards such as this have been very popular around the globe and similar success is expected in New Zealand. In addition, Westpac has reaffirmed its position of an innovative leader in the country's card market.

Published By Datamonitor
23 Nov 2006
CommentWire
CommentWire

Reverse mortgages: a bright future in Australia and New Zealand

The reverse mortgage markets in Australia and New Zealand have considerable growth potential, with Australia's high level of home equity, retirement savings gap and ageing population suggesting a bright future. However, to realize this potential, lenders must act to raise the profile of reverse mortgages and improve perceptions.

Published By Datamonitor
20 Jun 2005
CommentWire
CommentWire

NAB: a change for the better

The financial community was impressed by the bank's plans to slim down its operations. Certainly, the bank could do with some focus after its decade-long acquisition spree - but there could be still more changes to come. NAB may plan to follow HSBC's example, relaunching all its regional operations under a single brand name.

Published By Datamonitor
05 Feb 2002

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