WBC, ANZ: Banking stocks grab attention as rate hike talks intensify

The banking sector is the backbone of any economy. New Zealand has 27 registered banks with 4 large Australian-owned banks responsible for 85% of bank lending. Month of May is significant as two major banks declare their half-year’s financ...

Highlights NZ imposes new sanctions against the Russian central bank and top financial institutions Australia and New Zealand Banking Group commences new JV with Worldline Heartland Group Holdings gets BBB as long-term issuer default ratings ...

Highlights Bank profits soared in last three months of 2021, according to a recent report Cost-cutting, reduction in bad debt and increased mortgage lending have led to that However, banks could be up for challenging times ahead Banks' pr...

Highlights Inflation is rising high in New Zealand There is also a chance of subdued growth in NZ The RBNZ is expected to take a cautious stance in the monetary policy review on Wednesday Most economists expect a 25 bps raise in the OCR ...

Highlights State-owned Kiwibank has hiked interest rates charged on different home loan terms. This follows the RBNZ raising OCR on 23 February. With this, the Central Bank is confident that housing prices will become more sustainable. St...

ANZ to WBC: 3 NZX stocks on watchlist as banks increase mortgage rates  Highlights Banks have been raising their home loan rates after the RBNZ lifted the OCR on 23 February 2022. ANZ lifted its fixed home loan rates above market levels t...

Highlights Rabobank NZ registered a 73% rise in its annual profit on pcp in 2021. A surge in income, the release of impairment and growth in lending, helped the bank in delivering profit. Rabobank remains optimistic about the rural sector's lo...

Highlights Recession and inflation both are likely to co-exist in NZ. The RBNZ is likely to take a cautious stand in its upcoming monetary policy review. Kiwibank chief economist expects only 25 bps raise in the OCR. There are contradicto...

Highlights New Zealand’s banks garnered profits worth over NZ$6 billion, despite battling the COVID-19 pandemic. Westpac Banking sells its NZ life insurance business for NZ$400 million. Australia and New Zealand Banking Group to integrat...

Highlights According to an ANZ report, the central bank is set to hike the OCR rapidly. The OCR set to peak by April next year. Bank lending rates will be impacted. All banking stocks down after this report. ANZ, New Zealand’s bigg...