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Asia

New Zealand Shares Rise; APRA Starts Consulting on Proposed Changes to Banks' Credit Risk Capital Settings

New Zealand shares closed higher on Monday while Asian markets digested the US and Iran's agreement to halt renewed hostilities.The S&P/NZX 50 Index rose 0.37% or 50.32 points to close at 13,545.56.Iran and the US have agreed to halt recent hostilities in the Gulf and renew talks over their dispute regarding the Strait of Hormuz, according to a Sunday Reuters report, citing a US official.In domestic news, the seasonally adjusted number of filled jobs across New Zealand industries rose 0.3% month on month to 2.4 million in May, following a 0.1% decrease in the previous month, data from Stats NZ showed.Also, the total enterprise count in New Zealand in May was 598,137, down from 591,693 in the same period last year, according to figures released by Stats NZ.Further, construction cost growth in major New Zealand centers largely stabilized in June, with key cost rates showing minimal movement, QV said in a report.Meanwhile, the Reserve Bank of New Zealand (RBNZ) is expected to raise the cash rate by 25 basis points at its July meeting, according to a report by BNZ Research.In corporate news, the Australian Prudential Regulation Authority (APRA) started consulting on proposed amendments to banks' credit risk capital settings as part of a reform package to bank capital and liquidity settings, the prudential regulator said in a statement.

^NZ50ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

APRA Starts Consulting on Proposed Changes to Banks' Credit Risk Capital Settings

The Australian Prudential Regulation Authority (APRA) started consulting on proposed amendments to banks' credit risk capital settings as part of a reform package to bank capital and liquidity settings, the prudential regulator said in a statement on Monday.Key proposals include allowing a lower risk weight for large domestic public infrastructure exposures and for high-quality unrated corporate exposures, subject to certain criteria, and adjusting criteria to allow for more exposures to qualify for the lower 100% risk weight for residential property development, the regulator said.APRA plans to finalize credit risk capital changes in the second half of the year for a proposed effective date of April 1, 2027, per the statement.ANZ Group (ASX:ANZ, NZE:ANZ) shares rose marginally in morning trade in Australia.Commonwealth Bank (ASX:CBA) shares rose 1%, while National Australia Bank (ASX:NAB) were up nearly 1%.Westpac Banking (ASX:WBC, NZE:WBC) shares were up almost 1%.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

ANZ Group Expands Saturday Branch Trading to 27 Locations Across Australia

ANZ Group Holdings (ASX:ANZ, NZE:ANZ) said it will extend Saturday trading to 27 branches nationwide from June 27, including major shopping center locations in Victoria, Queensland and New South Wales, in a move designed to improve access to in-person banking services, according to a Monday statement by the bank.The move gives professionals, families, and small business owners greater flexibility to access specialist services like home loans and relationship banking outside standard weekday hours.The bank said over-the-counter cash transactions will not be available, but staff will assist customers in using automated teller machines for deposits and withdrawals.

ASX:ANZNZE:ANZ
Asia

Banks, Insurers Expected to Build Resilience Against Geopolitical Risk, APRA Chair Says

The Australian Prudential Regulation Authority (APRA) plans to write to banks, insurers, and superannuation trustees in order to ensure these entities better integrate geopolitical risk into governance, risk management, and crisis preparedness practices, according to a speech on Wednesday by the regulator's chair, John Lonsdale.The letter will set out the regulator's minimum expectations for how boards and senior management strengthen readiness for geopolitical shocks. Entities are expected to manage geopolitical risk through APRA's existing prudential framework, including prudential standards on governance, risk management, operational risk, resolution and recovery, and exit planning.The regulator also plans to write to a "selected group of larger entities with heightened exposure to geopolitical shocks," asking them to undertake targeted readiness assessments.It identified six key focus areas for entities to uplift their monitoring and response capabilities regarding geopolitical risk. APRA said it wants to see evidence of scenario analysis, capital and liquidity planning, as well as to see operational resilience embedded in risk management practices to support continuity of critical operations across a range of geopolitical scenarios.The regulator also highlighted the risk of insider threats and foreign interference, as well as political risks, including the need for financial institutions to rapidly implement sanctions.

ASX:ANZASX:CBAASX:IAGASX:NABASX:QBEASX:WBCNZE:ANZNZE:WBC
Asia

Australian Bank Majors Face a Step Lift in Capital Strain After Years of Strong Home Loan Growth, Jarden Says

Australian banking majors face a step lift in capital strain following recent policy changes and decades of high loan volumes to fund home buying that contributed to a surge in house prices, Jarden said in a late Monday note.During the last 30 years, AU$2.4 billion of credit was directed to fund home buying, more than double the AU$1.1 billion extended to productive uses in business, according to the note.Home loan risk weights started at 50% in the 1990s, troughed at 14% in 2014, and are now averaging roughly 23%, Jarden said. ANZ Group (ASX:ANZ, NZE:ANZ) has a home loan risk weight of 24%, Commonwealth Bank of Australia (ASX:CBA) 22%, National Australia Bank (ASX:NAB) 26%, and Westpac Banking (ASX:WBC, NZE:WBC) at 20%."We see a change in mix of required macro capital allocation," the equity research firm said in relation to banks supporting productive investments instead of relying on housing loans. It also questioned whether the banks' dividend payout ratios are too high, as the policies were implemented when home loan growth regularly exceeded corporate lending growth.Jarden believes major bank share prices remain expensive even after some retracing, and are not priced for any negative regime change.It maintained an overweight rating and Au$35.50 price target on ANZ, while keeping a sell rating on the other three banks. Commonwealth Bank's price target remains at AU$90, National Australia Bank's at AU$29, and Westpac's at AU$31.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

Australian Banks Boost Business Lending in Wake of Sustained Margin Compression in Mortgage Sector, Fitch Says

Sustained margin compression in the highly competitive mortgage sector drove Australia's major banks to boost their business lending over the past three years, Fitch Ratings said in a note on Monday.This rapid expansion is considered a source of heightened asset-quality risk through the cycle, particularly if macroeconomic conditions weaken further, the ratings firm added. It expects impaired loan ratios to rise across the sector over the next 12 months in the wake of higher interest rates, persistent inflation, and a moderate increase in unemployment.Westpac Banking (ASX:WBC, NZE:WBC) saw 39% business loan growth over the three years to March 31, leading the pack. National Australia Bank (ASX:NAB), however, retained the highest business loan concentration at around 40% of total loans.The banks' "aa-" asset-quality scores are sustained by strong collateral positions, but a prolonged macroeconomic deterioration or loosening of underwriting standards could accelerate credit stress.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

New Zealand Banks Used Fraud Intelligence Exchange to Recover NZ$10 Million of Stolen Funds, Banking Association Says

Banks in New Zealand used the Fraud Intelligence Exchange (FIX) system to recover roughly NZ$10 million in stolen funds during the past nine months, the New Zealand Banking Association said Monday."It's worth noting that the NZ$10 million only relates to FIX, which is just one tool banks use to help recover customer scam losses," said Roger Beaumont, the association's chief executive.FIX also revealed nearly 5,000 money mule accounts, which are domestic bank accounts scammers use to transfer stolen funds, sometimes without the knowledge of the account owner.ANZ Group's (NZE:ANZ, ASX:ANZ) New Zealand shares added about 2% in recent Monday trade, while its Australian shares gained 1%. Westpac Banking's (NZE:WBC, ASX:WBC) Kiwi and Australian shares each rose 1%. Shares of Commonwealth Bank of Australia (ASX:CBA), which owns ASB Bank in New Zealand, jumped past 1%.

ASX:ANZASX:CBAASX:WBCNZE:ANZNZE:WBC
Asia

Australian Shares Rally; Magellan Financial Gets ACCC Approval for Barrenjoey Merger, Plans Group Rebranding

Australian shares rallied on Friday, following stocks on Wall Street higher, as investors reacted to rising hopes of a peace agreement to end the conflict in the Middle East.The S&P/ASX 200 Index jumped 1.98%, or 170.80 points, to close at 8,804.US President Donald Trump said the US had cancelled planned strikes against Iran, and that the US and Iran could sign a peace agreement as soon as ​this weekend. He said negotiations with Tehran had advanced to the highest ⁠levels of Iran's leadership. Brent oil futures fell to around $88 per barrel.Overnight, the S&P 500 rose 1.8%, the Dow Jones Industrial Average gained nearly 1.9%, and the Nasdaq Composite rose 2.5%.On the domestic front, the number of seasonally adjusted filled jobs in Australia was unchanged from initial data, according to a report released by the Australian Bureau of Statistics. Filled jobs rose 0.6% to 16.2 million in the March quarter, following a 0.3% increase in the December 2025 quarter. Total jobs rose 0.7% to 16.5 million, while job vacancies were up 5.2% to 344,000.In company news, Magellan Financial Group (ASX:MFG) said the Australian Competition and Consumer Commission approved the company's merger with Barrenjoey Capital Partners. Magellan expects to complete the merger in early July, and it plans to seek shareholder approval at an Oct. 22 meeting to change its name to Barrenjoey Group.Monash IVF Group (ASX:MVF) now expects fiscal year 2026 underlying net profit after tax of AU$17 million to AU$18 million. It earlier guided for a full fiscal year underlying net profit after tax of AU$20 million. The outlook cut is driven by lower-than-expected activity in the Australian assisted reproductive technology market in the fiscal second half.Lastly, ANZ Group Holdings (ASX:ANZ, NZE:ANZ) said that ANZ Bank New Zealand Chief Executive and ANZ Bank group executive Antonia Watson will retire, effective Sept. 30. ANZ Bank New Zealand Chief Risk Officer Ben Kelleher was named as her successor, subject to Reserve Bank of New Zealand non-objection and other regulatory engagement.

ASX 200ASX:ANZASX:MFGASX:MVFNZE:ANZ
International

Australian Bank Funding Gap Expected to Decline Around 14% Over Next 12 Months, BofA Securities Says

The bank funding gap in Australia is expected to decline around 14% over the next 12 months to around AU$1 trillion by June 2027 from around AU$1.2 trillion, as tax changes lead to slower credit growth, BofA Securities said in a Thursday note.Changes to capital gains tax and negative gearing are expected to materially slow investor mortgage lending. Investors accounted for around 40% of mortgage flows over the past year. Consecutive central bank hikes and negative sentiment have weighed on the housing market, with house prices expected to remain flat this year.The recent strength in deposit growth is expected to continue. Slower credit growth should reduce banks' demand for high‐quality liquid assets, which has been a key support for semis. A narrower bank funding gap implies reduced bank bill issuance.Banks have reduced their reliance on wholesale funding in recent years, while deposits as a proportion of total funding improved to 67.5%, the note said. Commonwealth Bank of Australia (ASX:CBA) has the strongest customer deposit base, with deposits accounting for 79.4% of funding.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

ANZ Signs Two-Year Impact Partnership With First Nations Foundation

ANZ (ASX:ANZ, NZE:ANZ) said it has entered into a two-year impact partnership with First Nations Foundation (FNF), a national organization dedicated to improving the financial literacy, economic empowerment, and long-term financial well-being of First Nations peoples, according to a Tuesday statement.The partnership advances a key commitment under ANZ's 10-year Australian First Nations Strategy, Fuelling the Fire, to invest in First Nations-led financial education and wellbeing initiatives, the statement added.The company's shares fell 2% in recent Tuesday trade.

ASX:ANZNZE:ANZ
Asia

Market Chatter: Australian Banks Face Weaker Loan Growth, Higher Losses as Housing Outlook Clouds, Says Morgan Stanley, The Australian Reports

Australian Banks will be impacted by the changed property tax concessions, which will "fundamentally alter" the outlook for housing mortgage growth, which is expected to grow by just 3% in fiscal 2027, well below recent trends, according to a Friday report in The Australian, citing Morgan Stanley Analyst Richard Wiles.Morgan Stanley has cut its price targets for all major banks by around 6%, the report said.Owner occupiers will not be able to fill the gap left by expected flat investor loan balances in fiscal 2027, said Wiles.Morgan Stanley expects weaker loan growth, new margin headwinds, higher loss rates, and greater scrutiny of capital buffers, resulting in further downgrades for major Australian banks, the report added.According to the report, ANZ (ASX:ANZ, NZE:ANZ) is Wiles' top pick, while NAB (ASX:NAB), Commonwealth Bank of Australia (ASX:CBA), and Westpac (ASX:WBC, NZE:WBC) are rated underweight.Shares of ANZ, WBC, CBA, and NAB were down almost 1% each in recent Friday trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

Macquarie Group Continues to Outperform Banking Majors with Superior, Fully Digitized Platform, Jarden Says

Macquarie Group (ASX:MQG) continues to outperform banking majors with a simple and fully digitized platform, according to Jarden in a Thursday note.At this pace, Macquarie may surpass around 10% market share on both sides of the balance sheet in the near term. Commonwealth Bank of Australia's (ASX:CBA) net interest margin edge, free deposits look tenuous with IT and competition from Macquarie, ANZ Group Holdings (ASX:ANZ, NZE: ANZ), National Australia Bank (ASX:NAB), and potentially, stablecoins. Strong volumes are offset by competition.Jarden considered the fiscal year 2026 Australian budget as changing incentives, increasing complexity, and exacerbating the skew to financialization over increasing physical industrial capacity.High valuations reflect market index concentration and disappointment in other sectors, but expose major banks to abrupt and extreme mean reversion if the status quo changes.The investment firm assigned ANZ Group an overweight rating and price target of AU$35.50 per share. It also has sell ratings on Commonwealth Bank, National Australia Bank, and Westpac Banking (ASX:WBC, NZE:WBC) with price targets of AU$90 per share, AU$29 per share, and AU$31 per share, respectively.It also assigned Macquarie a buy rating with a price target of AU$250 per share, Bendigo and Adelaide Bank (ASX:BEN) a neutral rating with a AU$11 per share price target, Bank of Queensland (ASX:BOQ) a sell rating with a price target of AU$5.50 per share, and Judo Capital Holdings (ASX:JDO) a buy rating with a price target of AU$2.50 per share.

ASX:ANZASX:BENASX:BOQASX:CBAASX:JDOASX:MQGASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

Chrysos Secures AU$200 Million Refinancing Deal With Banking Syndicate

Chrysos (ASX:C79) secured a AU$200 million, three-year syndicated refinancing with ANZ Group Holdings (NZE:ANZ, ASX:ANZ), National Australia Bank (ASX:NAB), and Export Finance Australia, replacing its previous asset-based structure with a more flexible corporate-style debt facility, according to a Thursday filing with the Australian bourse.The new package includes term and revolving debt with an accordion feature, improved pricing and covenants, lower commitment fees, and about AU$105 million in additional headroom to refinance existing facilities and support growth, per the filing.The structure is secured across multiple jurisdictions and incorporates standard corporate covenants, including net leverage and interest coverage ratios, the filing said.The company said the refinancing boosts financial flexibility to accelerate PhotonAssay deployment and manufacturing, targeting a return to 18 units per year, backed by a forward order book of 22 units and 27 long-lead components, the filing added.ANZ Group 's Kiwi shares were down nearly 1% in recent Thursday trade.

ASX:ANZASX:C79ASX:NABNZE:ANZ
Asia

NZ Commerce Commission Proposes Caps on Interchange Fees for Commercial Credit Cards

The Commerce Commission of New Zealand released its draft decision to introduce caps on interchange fees for Mastercard and Visa commercial credit cards in a bid to have a more "fair and efficient" payments system, the competition, consumer, and regulatory agency said on Thursday.New Zealand businesses currently pay roughly NZ$125 million in interchange fees annually to accept Mastercard and Visa commercial credit cards, and the proposed caps are expected to reduce these costs by NZ$40 million per year.The final decision will be made later in the year, according to Commissioner Bryan Chapple.Westpac Banking (ASX:WBC, NZE:WBC) shares fell marginally in morning trade in New Zealand, while ANZ Group (ASX:ANZ, NZE:ANZ) shares were down nearly 1%.

ASX:ANZASX:CBAASX:WBCNZE:ANZNZE:WBC
Asia

Greatland Secures AU$500 Million Debt Facility, Makes Final Investment Decision for Western Australia Project; Shares Up 3%

Greatland Resources (ASX:GGP) said it has executed a AU$500 million corporate debt facility with a lending syndicate, and has made a final investment decision (FID) to develop the Havieron gold-copper project in Western Australia, according to a Monday Australian bourse filing.The lending group consists of ANZ Group (ASX:ANZ, NZE:ANZ), ING, HSBC, National Australia Bank (ASX:NAB), and Westpac (ASX:WBC, NZE:WBC).The company said the facility comprises a AU$250 million revolving credit facility with a five-year term, a AU$225 million revolving credit facility with a seven-year term, and a AU$25 million contingent instrument facility (CIF) drawn to AU$17.9 million as of May 31.Financial close on facility A and the CIF has been achieved, with financial close on facility B targeted for the end of June following the publication of Greatland's updated ore reserve estimate for Telfer, the filing added.With over AU$1.7 billion in available liquidity subject to facility B closing, Greatland said it is fully funded to develop Havieron.The company's shares were up over 3% in recent Monday trade.

ASX:ANZASX:GGPASX:WBCNZE:ANZNZE:WBC
Asia

Australian Shares Jump on Ceasefire Extension Reports; Dexus Must Sell Melbourne Airport Stake, Court Rules

Australian shares closed the week higher on Friday after media reports that said the US and Iran had agreed to extend the ceasefire in the Middle East.The S&P/ASX 200 Index jumped 1.62%, or 138.80 points, to close at 8,731.70.The US and Iran reached ​an agreement to extend a ceasefire and lift restrictions on shipping through the Strait of Hormuz, Reuters reported on Friday, citing sources. However, US President Donald Trump has yet to approve the deal, and Iranian state media said it had not yet been finalized.Brent crude oil futures plunged to around $92 per barrel. The S&P 500 rose 0.6%, and the Nasdaq climbed 0.9% on Thursday, setting fresh record highs.On the domestic front, Australian small and medium enterprises in digitized industries such as finance, property, and business services are using artificial intelligence at two to three times the rate of manufacturing, transport, and retail sectors, according to a report by National Australia Bank. The bank said about 15% of jobs in Australia are highly or significantly exposed to AI.In company news, Dexus (ASX:DXS) lost its court bid to block the sale of its stake in Melbourne Airport, as the New South Wales Supreme Court ruled that the company was in violation of confidentiality agreements and must dispose of the interest. The company holds a roughly 27.3% stake in Australia Pacific Airports, which owns Melbourne's Tullamarine airport and the Launceston airport in Tasmania.Worley (ASX:WOR) is considering a potential appeal of an Australian Federal Court decision to uphold a shareholder class action lawsuit related to financial guidance. The court on Thursday ruled that the company misled investors when it issued 2013 earnings guidance, upholding an earlier appeal filed by the shareholders, and ordered Worley to pay the applicant's legal costs.ANZ Group Holdings (ASX:ANZ, NZE:ANZ) said ANZ Bank New Zealand filed an appeal in the Court of Appeal on Friday against the High Court of New Zealand's judgment against the bank in class action proceedings. The High Court ruled that ANZ Bank New Zealand breached the Credit Contracts and Consumer Finance Act 2003 in class action proceedings served in September 2021.

ASX 200ASX:ANZASX:DXSASX:WORNZE:ANZ
Asia

ANZ Bank New Zealand Files Appeal Against New Zealand High Court Class Action Lawsuit Judgement

ANZ Group Holdings (ASX:ANZ, NZE:ANZ) said ANZ Bank New Zealand filed an appeal in the Court of Appeal on Friday against the High Court of New Zealand's judgment against the bank in class action proceedings, according to same-day filings with the Australian and New Zealand bourses.The High Court ruled that ANZ Bank New Zealand breached the Credit Contracts and Consumer Finance Act 2003 in class action proceedings served in September 2021. The court held that the representative plaintiffs are entitled to payment of the costs of borrowing for the period of breach, or NZ$32,728.42.The bank's shares rose over 1% in recent trading on the Australian bourse on Friday, and nearly 1% on the New Zealand bourse.

ASX:ANZNZE:ANZ
Asia

Market Chatter: New Zealand Finance Minister Doesn't Want Banks to Pass Costs of Prudential Levy to Customers

New Zealand Finance Minister Nicola Willis said she would be "extremely disappointed" if the country's banks decide to pass on the costs of a new prudential levy to their customers, interest.co.nz reported Friday.The government is implementing a prudential levy on banks, non-bank deposit takers, insurers, and financial market infrastructure providers as part of its 2026 budget. The levy would support cost recovery for the central bank's statutory prudential functions and is expected to generate roughly NZ$209 million during the next four years, according to the report.The government believes revenue from the new levy would represent less than 1% of the aggregate profit of ANZ Group Holdings (ASX:ANZ, NZE:ANZ), Westpac Banking (ASX:WBC, NZE:WBC), Heartland Group Holdings (ASX:HGH, NZE:HGH), and Commonwealth Bank of Australia (ASX:CBA) unit ASB Bank."I would like to send them a very clear message: They are some of the most profitable banks in the world. Other counties around the world have these levies and you haven't seen it being passed through," Willis said in an interview with interest.co.nz.Westpac, Heartland, and Commonwealth Bank did not immediately respond to requests for comment from. ANZ deferred to the New Zealand Banking Association, which did not immediately reply to an email.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:ANZASX:CBAASX:HGHASX:WBCNZE:ANZNZE:HGHNZE:WBC
Asia

APRA to Keep Macroprudential Policy Settings for Banks Unchanged

The Australian Prudential Regulation Authority (APRA) is set to keep its macroprudential policy settings steady after a review of domestic and international financial conditions and risks, according to a statement on Thursday.The regulator confirmed that the mortgage serviceability buffer will remain at 3 percentage points and that the countercyclical capital buffer will remain at 1% of risk-weighted assets.It also said that the high debt-to-income lending limits will remain unchanged, allowing banks to lend up to 20% of new owner-occupied and investment loans at debt-to-income ratios greater than or equal to six times.APRA noted that while households remain highly indebted, there are signs of moderation in housing prices and credit growth. Business credit growth remains above its historical average. The pressure on household and business cash flows has increased due to higher inflation and interest rates, but nonperforming loans remain low."The banking system remains well-capitalized and resilient and is well-positioned to absorb shocks should economic conditions deteriorate significantly," the regulator said.The watchdog said that high debt-to-income ratio lending remains well below its limits, citing preliminary March quarter data and concluding that the limits are not restricting overall bank lending.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

Stride Property Group Says ANZ Bank New Zealand No Longer a Substantial Holder

Stride Property Group (NZE:SPG) said ANZ Bank New Zealand and ANZ Custodial Services New Zealand ceased to be substantial holders of the company's stock on Thursday, according to a same-day filing with the New Zealand bourse.The ANZ entities, which are subsidiaries of ANZ Group Holdings (ASX:ANZ, NZE:ANZ), now hold about 27.9 million Stride Property shares, or just under 5% of its total shares, compared with 30.5 million shares or 5.4% previously.Stride Property Group shares fell 1% in recent Thursday trade.

ASX:ANZNZE:ANZNZE:SPG

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