Latest Deposit Rates news

Big banks at risk of ratings downgrade

New Zealand's biggest banks are at risk of having their credit ratings cut, after Kiwibank and the big four Australian-owned banks were all placed on negative ratings outlook.

Kiwibank had its outlook lowered by Standard & Poor's, only a day after rival ratings agency Fitch made a similar move in placing the big four Australian-owned banks on credit watch. S&P affirmed Kiwibank owner NZ Post Group's AA- rating but dropped the state-owned company's ratings outlook from stable to negative. However, it wasn't Kiwibank S&P was concerned about; NZ Post chief executive Brian Roche said the agency had dropped the group's outlook due to the continuing decline in its mail business

Rates round-up: January 23

Name suppression lifted from two SCF accused; PGC investors offered a bargain.

SCF accused keep names suppressed

The five individuals facing fraud charges relating to the $1.7 billion collapse of South Canterbury Finance have had their names suppression continued until next month.

Heartland director sells shares

Investors often react negatively to a director of a listed company selling shares but some sales are more noteworthy than others.

Rates round-up: January 16

South Canterbury Finance fraud case in court

Hubbard's Southbury companies unlikely to repay more than $186m

Allan Hubbard's Southbury Group and Southbury Corporation are unlikely to be able to repay the more than $186 million plus interest they owe South Canterbury Finance (SCF), the latest receivers' report says.

Rates round-up: Dec 19

New Zealand households start saving again

Finance companies profit as credit unions struggle

The finance company sector in New Zealand continues to shrink but the surviving companies have seen an increase in profitability, according to a new report.

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