Mortgage News

Surge in lending growth for Kiwi banks

Friday 1st of February 2013

The result may come as a red flag for Reserve Bank Governor Graeme Wheeler, who announced yesterday he would be keeping a close eye on household credit growth.

But bank profits decreased 11% compared to the previous six months, due to increasing costs and strong competition in the lending market.

Customers haggling for better deals were cutting banks’ margins, PwC Partner Sam Shut...

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