Lender

The financial services group has forecast $2.7 billion in costs for the 2020 financial year, which includes $133 million in credit provisions linked to the COVID-19 crisis.

Macquarie’s credit impairments have surged 152 per cent, resulting in an 8 per cent decline in its earnings.

The value of new investor loan commitments has dropped for the fourth month in a row, new data has shown.

The number of mortgage-holders looking to refinance their home loan has surged in recent weeks, as home owners take advantage of record-low interest rates.

The major bank’s cash earnings have plunged by 70 per cent, triggered by a spike in provisions associated with the COVID-19 crisis and one-off costs relating to AUSTRAC action.

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The major bank has set aside over $1 billion in new credit impairment charges, as it braces for a rise in delinquencies following the expiry of loan deferral periods.

Heritage Bank has appointed an ex-Westpac NZ chief executive as the replacement for Vivienne Quinn, who has stepped down after 25 years. 

The lender has joined peers in requiring brokers to ramp up their probe of their client’s financial position.

The major bank has announced that 1,000 first home buyers have now finalised the purchase of their home under the FHLDS, with a further 2,400 promised a place in the scheme.