Non-banks to be run off their feet

Cameron Bagrie.

In a webinar held yesterday, Bagrie said banks were increasingly sticking to what he called “Plain Jane” loans, while anything a bit more imaginative tended to be dealt with elsewhere.

He was speaking as New Zealand approaches the pinch point of rising inflation, rising interest rates, a risk of recession and serious Covid-derived economic worries. 

This was making the loan market a difficult business right now.

“At present, observed loan demand is less negative than the level of credit that is coming out of the banks,“ he said.