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Westpac - Latest News [Page 4]
Westpac Industry Insight: Artificial Intelligence
Friday, 24 November 2023, 9:29 am | Westpac
Oh yes, this is the great transformer. Businesses who adopt AI are likely improve their competitiveness, while those who don’t will struggle and face an uncertain future, according to a report by Westpac NZ’s Economics team. Westpac’s Industry ... More >>
Westpac NZ Offers 6.99% 2-year Home Loan Rate And Cuts Longer Term Rates
Thursday, 23 November 2023, 4:18 pm | Westpac
Westpac NZ is making a range of changes to its housing and term deposit rates, giving it the lowest advertised special home loan rates of the five major banks on all terms from 2 to 5 years. The bank is cutting its popular 2-year special home loan rate ... More >>
Westpac NZ Launches Water Safety Initiative To Tackle Rising Drowning Numbers
Wednesday, 8 November 2023, 9:00 am | Westpac
Westpac NZ is supporting Water Safety New Zealand with its popular Westpac Rescue Rashies to help to keep our youngest whānau members safe around water as Kiwis prepare to hit their favourite summer hot spots. Sadly, preventable drownings hit a ten-year ... More >>
Westpac NZ Adopts Biometric Technology To Help Keep Customers Safe
Tuesday, 7 November 2023, 9:44 am | Westpac
Westpac NZ is integrating biometrics software into its fraud monitoring systems to help protect its customers from falling victim to scams. Westpac is the first New Zealand bank to partner with Biocatch, a global cybersecurity company that analyses ... More >>
Westpac NZ Strengthens Business To Support Customers Through Challenging Period
Monday, 6 November 2023, 10:35 am | Westpac
Westpac New Zealand (Westpac NZ) [i] has reported a net profit of $963 million for the 12 months ended 30 September 2023 [ii] and is well positioned to support customers through the current challenging economic conditions. Excluding Notable Items, such ... More >>
Westpac Economic Overview, October 2023 – Trick Or Treat?
Tuesday, 31 October 2023, 8:58 am | Westpac
Westpac has just released its latest Economic Overview. “Inflation is likely to remain above the Reserve Bank’s 1-3% target range for all of 2024,” noted Chief Economist Kelly Eckhold. “While we are seeing lower imported goods and food inflation, ... More >>
Westpac NZ’s Venture Capital Arm Leads $1.4m Investment Round Into Akahu
Friday, 13 October 2023, 5:55 am | Westpac
Red Bird Ventures, the corporate venture capital fund of Westpac NZ, has led a $1.4m investment round into Kiwi fintech Akahu, alongside co-investors K1W1 and NZ7 Investments. As well as the investment, the partnership will provide the bank with valuable insight ... More >>
Westpac Regional Roundup, October 2023
Wednesday, 11 October 2023, 5:57 am | Westpac
Nationwide trends Our recent discussions with households and businesses have highlighted that New Zealand is now in a tougher phase of the economic cycle, with some key trends being seen right across the country. First, is that demand conditions are cooling. ... More >>
Westpac McDermott Miller Employment Confidence, September Quarter 2023
Wednesday, 27 September 2023, 9:44 am | Westpac
The Westpac McDermott Miller Employment Confidence Index (ECI) fell by 7.4 points to 98.3 in the September quarter. This is the first time since March 2021 that households have held a negative view about conditions in the labour market, and the lowest reading ... More >>
Westpac NZ Supports Savings Customers With 6% Term Deposit
Monday, 25 September 2023, 9:30 am | Westpac
Westpac NZ is offering greater value to savings customers by increasing its 9-month term deposit rate to 6.00% pa. The 15 basis point (0.15%) rate increase gives Westpac the highest 9-month rate among its main competitors. At the same time, the bank is ... More >>
Financial Support Available To Westpac NZ Customers Affected By Severe Weather
Friday, 22 September 2023, 11:15 am | Westpac
Westpac NZ is offering financial support to business and consumer customers affected by extreme weather in the lower South Island. Options may include: Business customers Suspension of principal payments on loans for up to three months. Deferred payment ... More >>
Household Confidence Down As Financial Pressures Bite
Friday, 22 September 2023, 9:36 am | Westpac
Westpac McDermott Miller Consumer Confidence, September quarter 2023 The Westpac McDermott Miller Consumer Confidence Index fell 2.9 points in September to a level of 80.2. That’s well below average and signals that the number of New Zealand households ... More >>
Employment Confidence Falls As Job Opportunities Narrow
Tuesday, 27 June 2023, 9:14 am | Westpac
Westpac McDermott Miller Employment Confidence, June quarter 2023 The Westpac McDermott Miller Employment Confidence Index (ECI) fell by 3.9 points to 105.6 in the June quarter. While households remained positive on balance about conditions in the labour ... More >>
Innovation Partnerships Help Kiwis Into Affordable, Quality Housing
Thursday, 22 June 2023, 11:47 am | Westpac
Three housing initiatives supporting Māori, Pasifika and people buying through co-ownership have recently been granted funding from the Westpac NZ Government Innovation Fund. The initiatives were selected as part of its most recent funding intake - ‘Bringing ... More >>
Westpac McDermott Miller Consumer Confidence, June Quarter 2023
Tuesday, 20 June 2023, 9:03 am | Westpac
Financial pressures continuing to bite Consumer confidence is continuing to languish at low levels in the face of mounting financial pressures. The Westpac McDermott Miller Consumer Confidence Index rose 5.4 points in June, to a level of 83.1. However, ... More >>
Westpac NZ Launches Sustainable Farm & Sustainable Business Loans
Thursday, 15 June 2023, 6:56 am | Westpac
Westpac NZ has launched two new sustainable loans for farming and corporate business customers, including New Zealand’s first ever whole of farm sustainable loan. Westpac NZ Chief Executive Catherine McGrath says the new Sustainable Farm Loan and Sustainable ... More >>
Grocery Retailing – Positive Steps, But Not Transformative
Friday, 12 May 2023, 10:42 am | Westpac
Westpac’s NZ Industry Economist Paul Clark says that the current cost of living crisis and growing concerns over food prices have brought last year’s Commerce Commissions’ recommendation for reforming the grocery sector back into focus. A ... More >>
Westpac New Zealand Reports Stable Underlying Performance
Monday, 8 May 2023, 10:39 am | Westpac
Westpac New Zealand (Westpac NZ) [i] has reported a 33% fall in net profit [ii] for the six months ended 31 March 2023, compared with the same period last year, but says its underlying performance has been stable. Last year’s one-off sale of ... More >>
Westpac NZ Working To Help More New Zealanders Get A Bank Account
Wednesday, 5 April 2023, 6:31 am | Westpac
Westpac NZ says greater action is needed to make it easier for vulnerable New Zealanders to access a bank account. A new report commissioned by Westpac NZ and carried out by research agency ThinkPlace shows there are substantial barriers that prevent some ... More >>
Westpac NZ Increases Financial Support To Community Law Centres O Aotearoa
Tuesday, 14 March 2023, 12:47 pm | Westpac
Westpac NZ is boosting its financial support for Community Law Centres o Aotearoa (CLCA) to provide greater certainty and enable community law centres to help more vulnerable clients. By law, funds held in solicitors’ nominated trust accounts ... More >>
