News
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NZ credit unions to merge
Five of the biggest New Zealand credit unions, including NZCU Baywide, are to merge under a single brand as they aim to become a stronger competitor to mainstream banks.
Non-bank surge to continue: KPMG
Non-banks posted a 22.9% increase in net profit last year, according to KPMG's latest non-bank report. The advisory firm tips non-banks to grow further in 2019, as banks tighten up in the aftermath of the Royal Commission.
RBNZ proposals will slow credit growth: Kiwibank
Reserve Bank proposals for banks to hold significantly more cash on their balance sheets will lead to slower credit growth and rising interest rates, Kiwibank economists have warned.