The two small New Zealand-owned home lending banks showed divergent trends in the June quarter, one growing its mortgage book while the other shrank.

BNZ grew its mortgage book strongly during the June quarter although non-cash losses reduced its profitability.

Blue Star Group, whose bondholders approved a restructuring deal earlier this month, reported slightly higher sales and a slightly smaller annual loss than forecast in its July 14 prospectus and reiterated its forecast return to profit in the current year.

Commonwealth Bank of Australia-owned ASB Bank's mortgage book shrank for a fifth successive quarter in the three months ended June although its profitability improved.

Kiwibank's June quarter profit plunged, mainly reflecting large Christchurch-related charges for bad loans, but its mortgage book grew strongly.

Macquarie has pulled the plug on its NZDX-listed Fortress Notes by selling the underlying portfolio of US corporate loans.

The government-owned Kiwibank's June quarter profit plunged, mainly reflecting large Christchurch-related charges for bad loans, but its mortgage book grew strongly.

For more than a decade, being on fixed-rate mortgages was the norm and it seems we still regard fixing as normal. But is it? Jenny Ruth investigates.

Businesses' inflation expectations have improved slightly but remain uncomfortably high, economists say.

Dorchester Pacific is planning to raise up to $12 million from the wholesale market because banks won't lend to it.

ANZ Bank's profit growth slowed and its mortgage book probably shrank during the June quarter.

Heartland New Zealand delivered on its promise by producing a $7.1 million annual net profit.

Heartland Building Society says a law change means its 2012 net profit will be boosted by a one-off tax credit likely to be between $5 million and $6 million.

Equitable Mortgages' investors not covered by the government guarantee and the government are unlikely to by paid all they're owed and unsecured creditors owed about $25 million are unlikely to receive anything.

South Canterbury Finance's (SCF) receivers have sold its "good bank" with a book value of $123 million to Japan-based global investment bank Nomura for an undisclosed sum.

One of Fidelity Life's KiwiSaver funds is being buffeted by the same global financial forces which forced the liquidation of the $75 million NZDX-listed Fidelity Capital Guaranteed bonds last week.