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7 Jul 2025 17:34
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  •   Home > News > Business

    A record-breaking bounce back for New Zealand's banks

    A record-breaking bounce back for New Zealand's banks


    KPMG's Financial Institutions Performance Survey shows banks made more than 1.6-billion dollars in profit, in the first three months of the year.

    It follows all-time low margins over last year's lockdowns.

    The report puts it down to higher lending, the reversal of bad debt provisioning and the Government's economic policies, like the wage subsidy.

    Banking and Finance Head John Kensington says it's good news. .

    He says when the banks make big losses, the Government has to bail them out, they lose trust and can't offer the same services as before.

    © 2025 Newstalk ZB, NZCity

     Other Business News
     07 Jul: The hard questions NZ must ask about the claimed economic benefits of fast-track mining projects
     07 Jul: Tweaks to the Family Boost scheme from this month - aiming to help combat high living costs, and cover people missing out
     07 Jul: The Government's expanding the its FamilyBoost scheme, with changes taking effect retrospectively from the start of this month
     06 Jul: Our newsroom's revealed more than 200 people were able to enter New Zealand on work visas for defunct businesses later exposed as fronts for a network of cannabis grow houses in Auckland
     05 Jul: The Toyota's RAV4's held it's top spot as the favourite passenger car - in a standout month for vehicle sales
     05 Jul: A surge in new car sales - on the back of a tough couple of years for the market
     05 Jul: An independent report on the Northland Expressway, is sowing doubt over the project's future
     Top Stories

    RUGBY RUGBY
    The All Blacks are confident Rieko Ioane will find his footing with his return to the wing ahead of the second test against France in Wellington More...


    BUSINESS BUSINESS
    The hard questions NZ must ask about the claimed economic benefits of fast-track mining projects More...



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