Latest from Banking

Xero boss Rod Drury is disappointed with the sell recommendation Craigs Investment Partners has slapped on the company's stock.

The economy has lost some momentum since earlier in the year, the Treasury says, though it still describes the pace of expansion as robust.

Two of New Zealand's largest banks will this week be served court papers over claims they charged more than 41,600 customers unfair penalty fees.

105 banks and credit unions are now doing business with legal cannabis sellers in the United States, a top US federal official said.

An improving economy helped boost ASB's annual net profit by 14 per cent to a record $806 million, but the bank's chief executive, Barbara Chapman, says bad-debt expenses are likely to begin trending upwards from their present low levels.

A new war on "loan sharks' should help bankrupt Auckland mum Farrah Matthews, who ended up paying $29k for a $12k car - borrowing money at 29 per cent interest.

ECB reluctance to adopt full-scale quantitative-easing policies is prompting German comparisons with Japan's stagnation over the past 15 years.

An improving economy and favourable funding conditions helped ASB Bank boost its annual statutory net profit by 14pc to a record $806 million.

New Zealand could be on the cusp of a big lift in mergers and acquisitions activity, driven in part by increasing Asian interest in local companies.

ANZ's Truckometer recorded an increase in heavy traffic on roads last month.

Consumers' plastic cards saw more of the light of day last month.

A British organisation has released a report titled "Virtuous Banking", which offers suggestions for reforming the financial industry.