Marac Finance has reported a net profit after tax of $14.3m against a forecast in last year’s prospectus of $13.7 million.

The Serious Fraud Office has laid more than 100 charges against four former directors of failed lender Five Star Finance carrying a maximum penalty of seven years apiece.

ASB has entered into the home equity release market which was active but is currently extremely dormant.

Mortgage Link has appointed a new independent director to replace Ross Butler.

Kiwis want to see own backyard before kicking the bucket according to the inaugural Fidelity Life Kiwi Bucket List survey.

The proposed merger of Marac Finance with Canterbury Building Society and Southern Cross Building Society will need to get approval from shareholders, bondholders and depositors to get over the line.

One non-bank deposit taker has had good news from Standard & Poor's, in a week where most of the rating agency's announcements were negative.

Equitable is the latest non-bank deposit taker to have its credit rating downgraded by Standard and Poors.

Tower Health & Life has launched a new cover option for non-Pharmac funded cancer drugs which strikes a balance between giving customers the choice to include the cover while ensuring its base product is not vulnerable to sustainability issues.