Financial Stocks

Binance, Houbi cease operations in China after crypto ban

 Binance, Houbi cease operations in China after crypto ban

Highlights  Binance as well as Houbi have cut back on China operations as Beijing stiffens its suppression of cryptocurrencies. Chinese central bank, the People’s Bank of China, announced on Friday that all crypto transactions would ...

Read More...
BNZ to shut down 38 branches amid COVID-19 induced digital shift

BNZ to shut down 38 branches amid COVID-19 induced digital shift

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...

Read More...
One Asset Management Company Likely to Benefit Moving Forward

One Asset Management Company Likely to Benefit Moving Forward

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...

Read More...
Westpac NZ confirms sale of its wealth advisory business to Forsyth Barr

Westpac NZ confirms sale of its wealth advisory business to Forsyth Barr

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...

Read More...
Heartland declares lowest floating home loan rate in New Zealand

Heartland declares lowest floating home loan rate in New Zealand

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 ...

Read More...
ASB to shut down another 23 branches as customers do banking online

ASB to shut down another 23 branches as customers do banking online

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 ...

Read More...
BNZ’s annual profit drops 25% amid COVID-19 impact

BNZ’s annual profit drops 25% amid COVID-19 impact

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 ...

Read More...
ANZ's new emissions policy welcomed by conservationists but irks senior Nationals MPs

ANZ's new emissions policy welcomed by conservationists but irks senior Nationals MPs

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...

Read More...
Westpac (NZX:WBC) to bid adieu to cheques by mid of next year, Customers preference to digital payments cited

Westpac (NZX:WBC) to bid adieu to cheques by mid of next year, Customers preference to digital payments cited

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...

Read More...
AMP KiwiSaver Scheme to cost you less as the Company goes from Active to Passive?

AMP KiwiSaver Scheme to cost you less as the Company goes from Active to Passive?

Summary AMP Wealth Management plans to abandon its active management approach in its managed funds, including KiwiSaver scheme to a new passive structure. BlackRock Investment Management would be the new hire to deliver the new passive structur...

Read More...
Interest Rates at an all-time low: An Opportune Moment to Invest in Financial Stocks? 

Interest Rates at an all-time low: An Opportune Moment to Invest in Financial Stocks? 

Summary Financial stocks can be a good bet to invest in a low-interest-rate atmosphere when the return on conventional investment falls. Westpac shares have returned more than 20% in the past six months, and the Bank reported an unaudited statu...

Read More...
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK