Kiwibank - Latest News [Page 2]

Banking Services Available During Lockdown

Tuesday, 24 March 2020, 8:07 pm | Kiwibank

Banking systems are deemed an essential service and key banking services will remain available to Kiwibank customers during the lockdown. Cash will be available at ATMs, payments systems will function as usual, and credit applications will still be available ... More >>

Kiwibank Moves To Lower Home Loan Rates After OCR Cut Announced

Monday, 16 March 2020, 2:05 pm | Kiwibank

Kiwibank will pass on the full 0.75 percent official cash rate cut to customers with floating home loan rates. Kiwibank will reduce its floating home loan rate from 5.15 percent to 4.40 percent. Lending Product   Current rate p.a.   ... More >>

Final countdown for Kiwibank cheques

Monday, 3 February 2020, 12:00 pm | Kiwibank

Kiwibank is encouraging customers to bank any remaining cheques they might have before it goes cheque-free from 28 February 2020. More >>

Kiwi inflation is running stronger than expected

Friday, 24 January 2020, 11:20 am | Kiwibank

Today’s inflation release showed a solid 0.5%qoq gain to end 2019, taking the annual run rate to 1.9%. We had forecast a 0.3%qoq gain (1.7%yoy), and consensus was a touch higher at 0.4% (1.8%). But, more importantly, the print came in slightly above the ... More >>

Kiwi growth remains potential

Thursday, 19 December 2019, 12:21 pm | Kiwibank

Today's report was a misfortunate mixed bag of data and devils in detail. The Kiwi economy recorded a strong 0.7% gain in Q3 2019 (Kiwibank 0.6%, consensus 0.5%). But the better than expected gain hides the weakness in the downward revisions to Q2 ... More >>

Kiwibank honours local heroes in new Sylvia Park branch

Monday, 9 December 2019, 12:41 pm | Kiwibank

Auckland local heroes have been permanently honoured at Kiwibank’s much anticipated standalone Sylvia Park branch, which opened today (Monday, 9 December 2019), at Sylvia Park Shopping Centre in Mt Wellington. More >>

Tail risks rise. LVRs stay put. Conduct in focus.

Wednesday, 27 November 2019, 2:04 pm | Kiwibank

Key Points • The RBNZ’s latest FSR: NZ’s financial system is sound and “ remains resilient to a broad range of economic risks ”. • The RBNZ chose not to relax LVR settings, citing rising tail risks from housing as interest rates hit ... More >>

Kiwibank reduces one-year fixed-term home-loan rate

Friday, 15 November 2019, 3:39 pm | Kiwibank

Despite no change to the official cash rate this week Kiwibank is reducing its one-year fixed-term home-loan interest rate from 3.55% to 3.39%, a new record low. The New Zealand owned bank has good news for savers too, increasing its one-year term-deposit ... More >>

RBNZ 'should' cut. Well they?

Monday, 11 November 2019, 2:19 pm | Kiwibank

• The RBNZ's decision is in focus this week. A cut to 0.75% 'should' be made. But conviction in the call has evaporated from a certainty, to a coin toss. • If the RBNZ don't cut this week, we will expect a cut in Feb. So why wait? They risk ... More >>

Susan Macken opts not to seek reappointment to Board

Friday, 8 November 2019, 12:59 pm | Kiwibank

Kiwibank Board Chair Dr Susan Macken today announced she will not be seeking reappointment next month. Dr Macken, an experienced company director and business consultant, was appointed to the Kiwibank Board as an independent director for a three-year term ... More >>

Jobs growth has slowed; RBNZ ‘should’ cut

Wednesday, 6 November 2019, 1:25 pm | Kiwibank

• The unemployment rate rebounded to 4.2%, after a surprise fall last quarter. As there was a surprisingly large 6k jump in the number of people unemployed. • The labour market is losing momentum. Annual employment growth hit a six-year low, ... More >>

A lack of business confidence will cause RBNZ cuts

Tuesday, 1 October 2019, 1:59 pm | Kiwibank

• Business Confidence deteriorates along with profitability. Poor pricing intentions has cut inflation expectations. Businesses are worried.” More >>

Kiwi economic growth slows. We need fiscal caffeination

Thursday, 19 September 2019, 12:02 pm | Kiwibank

Growth has now slowed to a 6-year low, and downside risks are dominating. June quarter GDP growth came in at 0.5%qoq, in line with our expectation, and slightly above consensus. Although there were a few sensational reports of the chance of a negative print. ... More >>

Kiwibank positioned as first-choice bank for KiwiBuild reset

Wednesday, 4 September 2019, 5:10 pm | Kiwibank

Kiwibank is again positioned to be the first-choice bank for KiwiBuild participants after the government announced a reset of the initiative this afternoon. More >>

Kiwibank marks growth in NZ economy

Friday, 23 August 2019, 10:08 am | Kiwibank

Kiwibank marked its growth within the New Zealand economy today announcing $2.1 billion of growth in customer lending and $2.1 billion in customer deposits. The New Zealand-owned bank also delivered a net profit after tax (NPAT) of $108 million ... More >>

Our Take - An encouraging sign from the housing market

Tuesday, 13 August 2019, 9:34 am | Kiwibank

• Amongst the soft REINZ housing market data in July there were some encouraging signs. Auckland posted a second consecutive, and decent monthly increase, in sales activity. Sales activity tends to lead prices. • • National house price appreciation ... More >>

Kiwibank moves swiftly after OCR cut announced

Thursday, 8 August 2019, 8:33 am | Kiwibank

Kiwibank has passed on the full 0.5 percent OCR rate cut to its customers with variable home loan rates. “Kiwibank is committed to be the better banking alternative, a bank that provides real value for money. We are making these changes so that our ... More >>

Jobs report: We need time to tell

Tuesday, 6 August 2019, 1:49 pm | Kiwibank

• A surprise swoon in the unemployment rate to 3.9% - an 11-year low – shows the market remains a bright spot in the NZ economy. More >>

First View - Can’t get enough (housing)

Monday, 22 July 2019, 11:00 am | Kiwibank

• We can't get enough. We are short 130,000 affordable homes in New Zealand. And the challenge is proving so high, Kiwibuild can't get over it. • Auckland's housing market is stabilising, while the regions remain robust, and ridiculously attractive ... More >>

New Zealand’s housing shortage is getting worse, not better

Thursday, 18 July 2019, 2:22 pm | Kiwibank

• This time last year we showed a shortage of 100,000 homes across New Zealand. Our population growth has outstripped housing supply, again. We’re now short 130,000 homes. More >>