Finding a new niche of life
Article Abstract:
The banking industry in New Zealand has recovered from the losses it incurred during its overheated lending days from 1985-1989. Total loss for banks in 1989was NZ$357 million or US$193 million. However, in 1991, banks reportedly made profits amounting to NZ$340 million. Two of the reasons for the recovery were the reduction in interest rates and the effective management of bank operations. Lower interest rates enabled financially-strapped borrowers to regain stability, while efficient management brought about reduced operating costs for the banks.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Future in the cards
Article Abstract:
New Zealand's banks are in generally good shape following a very rough decade, and are most concerned about regulatory changes and developing new competitive products and services. The number of branches has risen amidst fierce competition to 1,554, up from 1,410 in 1994, one of the highest branch-to-population ratios anywhere. The Reserve Bank is creating a new regulatory regime emphasizing market discipline via required quarterly public disclosures. New technology will permit sophisticated new services.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Permanent withdrawal; New Zealand plans to sell of its last major retail bank
Article Abstract:
New Zealand's last remaining major retail bank may soon be acquired by a foreign company. Westpac Banking Corp of Australia made a formal bid to acquire 100% of Trust Bank New Zealand on Apr 19, 1996. Since 1990, foreign banking companies have acquired six major New Zealand banks. Banks in New Zealand have undergone deregulation and extensive restructuring in the past 10 years in a move that reflects the country's new international business orientation.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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