On 24 November 2020, AMP Capital disclosed the appointment of its new MD & Head of Clients Rebekah Swan for its NZ business. AMP Capital is a part of the AMP Group and is a global investment manager with a large presence in Australia. AMP Limi...
On 19 November, Heartland Group Holdings Limited (NZX:HGH) advised that it is reassessing the valuation of its equity investment in Harmoney Corp Limited (ASX:HMY). On 20 November, Heartland Group last traded flat at NZ$1.39. Heartland owns 8,518...
Summary BNZ has planned to shut down 38 branches over the next 7 months despite a pledge taken in June 2019 to not shut any of its branches until at least 2022. COVID-19 accelerated digital usage with about 75% of customers digitally active and...
Asset Management Companies, also known as AMCs, are companies that invests the funds collected from the investors in different securities with the aim of best possible returns. The performance of an AMC is closely related to the sectors in which it h...
Summary Westpac NZ's sale of a part of its financial advisory business to Forsyth Barr has been confirmed today by the 2 organisations after consultation with employees. A total of 32 new staff will join Forsyth Barr from Westpac's wealth advis...
Summary Heartland Bank has slashed its floating home loan rate by 45bps to 2.5% per annum, the lowest floating rate provided by a bank in NZ. In October, Heartland Bank had announced a 1-year fixed home loan rate at 1.99%, launching the lowest ...
Summary ASB would close 23 branches across NZ, and about 13 branches would move to reduced hours permanently by February 2021. A group of banks have also come up with a plan to share regional banking hubs to lower costs of branch operations in ...
The Bank of New Zealand annual profit fell by 25% in NZ to $762 million for the year ended 30 September from $1.022 billion last year as incomes fell, expenses increased, and the bank braced up for increased impairments due to COVID-19. The ...
Australia and New Zealand Banking Group (ASX:ANZ) and (NZX:ANZ) is a dual listed stock that unveiled its latest climate change policy, which will see the Bank moving away from funding thermal coal and switching to a zero-emissions economy by 2...
Summary Westpac will no longer accept cheques as a mode of payment from 25 June 2021 due to rapidly falling cheque usage as more customers switch to digital payments. Cheques represent less than 1% of bank payments with the figure continuing to...
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