Non-performing housing loans have risen to nearly 12% – their  highest level in nearly eight years, the latest Reserve Bank figures show.

Mortgage delinquencies rose to 1.32% of home loans in May, the highest level since March 2020, with 19,500 mortgage accounts reported past due, according to credit monitoring company Centrix.

Parliament’s Environment Committee released its reports on the Natural and Built Environment (NBE) and Spatial Planning Bills last week.

ASB has just hiked its one year mortgage fixed rate to 7.25%.

Pathfinder takes out top ethical investing awards and two advisers share top adviser award.

Two local start-up companies are already positioned to take advantage of open banking, even though the deadline for the four major banks to implement it isn't until May next year.

The major banks are clearly preparing for a rise in bad debts, even as their actual losses to date remain exceptionally low.

Despite fund managers touting ESG (environmental, social and governance) investment principles, a bumper year for fossil fuels saw Kiwi dollars surge into oil and gas stocks.

New Zealand's recession isn't yet showing up in any increase in non-performing mortgages but banks are starting to prepare for it by increasing provisions and it is showing up in the business sector and in the government's tax take, independent economist Cameron Bagrie told a Chubb conference last week.

The New Zealand economy is still in good shape, even though it's technically in recession former prime minister and chair of ANZ Bank John Key says.

TSB Bank has appointed chief financial officer Gordon Davidson as acting chief executive from July 28 when current CEO Donna Cooper departs.

Chubb, formerly Cigna, has launched a new insurance product to help protect small-to-medium sized enterprises (SMEs) called Assurance Extra Business, the company told a conference for advisers last week.