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Asia

New Zealand Shares Rise; Westpac NZ Renews 11-Year Loyalty Partnership With Air New Zealand

New Zealand shares closed higher on Tuesday as markets digested a rally in Wall Street shares on Monday.The S&P/NZX 50 Index rose 0.56% or 76.10 points to close at 13,621.66.On Monday, the Nasdaq Composite ended 2.1% higher, the S&P 500 gained 1.2%, while the Dow Jones added 0.6%.In domestic news, New Zealand business confidence rose 27 points to 37 in June, according to a report by ANZ.Also, New Zealand's lending from registered banks and non-bank lending institutions increased in May, driven by growth in housing, business, agricultural, and consumer loans, according to data from the Reserve Bank of New ZealandIn corporate news, Westpac Banking's (ASX:WBC, NZE:WBC) Westpac NZ renewed its 11-year loyalty partnership with Air New Zealand (ASX:AIZ, NZE:AIR), allowing the bank's customers to continue to earn points through the airline's Koru program.Vital Healthcare Property Trust (NZE:VHP) said it will undertake stage 2 of the Macarthur Health Precinct in New South Wales, an incremental development of NZ$99.3 million with a total project cost of NZ$112.2 million, to deliver a short stay surgical hospital and medical outpatient building.

^NZ50ASX:AIZASX:WBCNZE:AIRNZE:WBCNZX:VHP
Asia

Westpac NZ Renews 11-Year Loyalty Partnership With Air New Zealand

Westpac Banking's (ASX:WBC, NZE:WBC) Westpac NZ renewed its 11-year loyalty partnership with Air New Zealand (ASX:AIZ, NZE:AIR), allowing the bank's customers to continue to earn points through the airline's Koru program, according to a Tuesday statement from the bank.The lender had researched into ways it can help them customers more value out of their card spending, especially at a time where costs are high for many, said Simon Macdonald, Westpac NZ head of everyday banking products. Additional "rewards innovations" was on the way.

ASX:AIZASX:WBCNZE:AIRNZE:WBC
Asia

New Zealand's FMA to Ensure Banks Prioritize Consumer Needs in Products

New Zealand's Financial Markets Authority (FMA) will focus on ensuring that banks and non-bank deposit takers prioritize consumer needs when developing new products or redesigning existing ones while keeping in mind the capabilities and limitations of their systems and processes, according to FMA's Financial Conduct Report published on Tuesday.The report sets out the watchdog's regulatory priorities for the 2026 to 2027 financial year, covering specific sectors and cross-sector themes.FMA acknowledged that financial institutions review products and services, with most doing so both reactively and proactively. But in some cases, the absence of negative reporting is taken as confirmation that consumers are being treated fairly. It also saw cases where communication with consumers about changes to products and services following reviews was inconsistent.The regulator plans to increase its understanding of how banks and non-bank deposit takers ensure that their provision of transaction account services complies with the fair conduct principle and minimum fair conduct program requirements over the next 12 months.It said it would engage with banks and non-bank deposit takers to understand how complaints data is used. The regulator's focus is on ensuring that boards and executives regularly use the themes and trends in complaints data as an input into decisions to improve product and service offerings.

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

New Zealand Shares Fall; Auckland International Airport Expects June 27 to be Busiest International Departures Day

New Zealand shares closed lower on Wednesday as Asian markets saw losses after a day of sell-off on Wall Street.The S&P/NZX 50 Index fell 0.26% ot 35.11 points to close at 13,400.66.On Tuesday, Wall Street ended lower due to a selloff in semiconductor shares amid investors' worry over rising AI spending.Chipmaking giant Nvidia closed 4% lower, and AMD fell about 6%, leading to a fall of 2% on the Nasdaq Composite and 1% on the S&P 500.In domestic news, a total of 2,871 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) Pulse auction held Tuesday, with supply ranging from 2,700 MT to 3,050 MT, according to data from the trading platform.In corporate news, Auckland International Airport (ASX:AIA, NZE:AIA) expects June 27 to be the busiest day for international departures, with nearly 15,000 travellers set to fly out of the airport.Westpac Banking (ASX:WBC, NZE:WBC) appointed Richard Heeley as its Chief Information Officer, commencing later in the year.

^NZ50ASX:AIAASX:WBCNZE:AIANZE:WBC
Asia

Schoolblazer's Uniform Business Secures AU$110 Million Debt Facility From Westpac

Schoolblazer's (ASX:SBZ) uniform business division secured a conditional AU$110 million trade finance and term debt facility from Westpac Banking (ASX:WBC, NZE:WBC), according to a Wednesday filing with the Australian bourse.The agreement includes AU$45 million in term debt facilities with a five-year tenor and a seasonal trade finance facility of up to AU$65 million on "competitive market terms," per the filing.The company said the new facility will replace the uniform business' fragmented legacy debt arrangements with a single facility that has capacity for growth.Westpac Banking's Australian shares were up 1% in recent Wednesday trade.

ASX:SBZASX:WBCNZE:WBC
Asia

Westpac Banking Appoints Chief Information Officer

Westpac Banking (ASX:WBC, NZE:WBC) appointed Richard Heeley as its Chief Information Officer, commencing later in the year, according to a Wednesday ASX filing.Heely will succeed outgoing CIO Scott Collary, who will retire later this year.Heeley is currently CIO, Banking and Financial Services at Macquarie Group (ASX:MQG).Its shares rose 1% in recent trading on Wednesday on the Australian bourse.

ASX:MQGASX:WBCNZE:WBC
Asia Markets

New Zealand Shares Flat; Gentrack Group Says UBS Group Lifts Stake

New Zealand shares closed flat with a negative bias on Tuesday as Asian markets followed losses from Wall Street's Monday close.The S&P/NZX 50 Index was little changed to close at 13,435.77.On Monday, the Nasdaq Composite fell 1.3%, the S&P 500 lost 0.4%, while the Dow Jones managed to add 0.3%.The US waived sanctions on Iran for 60 days from Monday following the first talks under a fledgling peace agreement, while officials reported a continued lull in fighting in Lebanon under the deal aimed at ending hostilities across the region, Reuters reported Monday.In domestic news, New Zealand employment confidence fell 12.5 points in the June quarter to 83.1 from 95.6 in the previous quarter, the lowest reading for the survey since it started in September 2004, according to the Westpac-McDermott Miller Employment Confidence index.In corporate news, Gentrack Group (ASX:GTK, NZE:GTK) received notice that UBS Group and its affiliated entities increased their holdings in the company to 7.055% from 5.846%.Westpac Banking's (NZE:WBC, ASX:WBC) Westpac NZ said Tuesday it has become the first New Zealand bank to receive approval from the Reserve Bank of New Zealand to provide loans secured by Zespri shares.

^NZ50ASX:GTKASX:WBCNZE:GTKNZE:WBC
Asia

Westpac Banking Becomes First New Zealand Bank to Receive RBNZ Approval for Zespri Shares-Secured Lending

Westpac Banking's (NZE:WBC, ASX:WBC) Westpac NZ said Tuesday it has become the first New Zealand bank to receive approval from the Reserve Bank of New Zealand to provide loans secured by Zespri shares.The bank said in a Tuesday statement that kiwifruit growers who become or are Zespri shareholders can use any Zespri shares they own as security when applying for lending, as well as access finance to support the purchase of additional shares.Westpac's Australian and New Zealand shares each rose 1% in recent Tuesday trade.

ASX:WBCNZE:WBC
Asia

Update: Market Chatter: Westpac Bankers Questioned by APRA Over Deficiencies in Small-Business Lending

(Updates with a response from APRA in the last paragraph.)Westpac Banking (ASX:WBC, NZE:WBC) bankers, including business banking chief Paul Fowler were questioned by the Australian Prudential Regulation Authority (APRA) this week over a range of shortcomings in the company's small-business lending operations, the Australian Financial Review reported Friday, citing sources with knowledge of the matter.APRA talked to more than 20 Westpac bankers after an internal report from late April flagged lax supervision and controls within the bank's small and medium-sized business unit, including violations of credit limits and unsatisfactory risk management, according to the report.The regulator declined' request for comment, while Westpac 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:WBCNZE:WBC
Asia

Market Chatter: Westpac Bankers Questioned by APRA Over Deficiencies in Small-Business Lending

Westpac Banking (ASX:WBC, NZE:WBC) bankers including business banking chief Paul Fowler were questioned by the Australian Prudential Regulation Authority (APRA) this week over a range of shortcomings in the company's small-business lending operations, the Australian Financial Review reported Friday, citing sources with knowledge of the matter.APRA talked to more than 20 Westpac bankers after an internal report from late April flagged lax supervision and controls within the bank's small and medium-sized business unit, including violations of credit limits and unsatisfactory risk management, according to the report.The regulator and Westpac did not immediately reply to requests for comment from.(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:WBCNZE:WBC
International

New Zealand Economy Posts Solid Q1 Growth Amid Revisions, Westpac Says

New Zealand's economy grew 0.8% in the March quarter, with upward revisions to prior data strengthening the overall outlook despite a slightly softer quarterly reading than expected, according to a Thursday report by Westpac Banking (ASX:WBC, NZE:WBC).Westpac said the gain was driven by broad-based sector strength, with manufacturing, wholesale and retail trade, and professional services all posting solid increases, broadly in line with its expectations.The bank noted revisions were a key feature of the release, with December 2025 quarter gross domestic product (GDP) lifted to 0.5% from 0.2% on updated construction and agricultural data, while changes to seasonal adjustment factors reduced the usual March-quarter uplift.The bank said annual GDP growth came in at 1.5%, above its 1.2% forecast, with the upside largely reflecting statistical revisions rather than a meaningful improvement in economic momentum.The bank added that the result was broadly in line with Reserve Bank of New Zealand expectations, but the focus is likely to shift to recent developments, including fuel price swings, lower oil prices, and uncertainty over the durability of the peace agreement.

^NZ50ASX:WBCNZE:WBC
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

Stride Property Group Says Westpac Banking Lifts Stake

Stride Property Group (NZE:SPG) received notice that Westpac Banking (ASX:WBC, NZE:WBC) and its affiliates increased their holdings in the company to 6.04% from 5.02%, according to a Wednesday filing with the New Zealand bourse.Westpac Banking and its affiliates now own 33.8 million shares in the company, the filing said.

ASX:WBCNZE:SPGNZE: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

Westpac Banking's 'Unrealistic' Sales Targets for Home Loans Will Hurt Mortgage Competition, Finance Sector Union Says

Westpac Banking (ASX:WBC, NZE:WBC) has set "unrealistic" sales targets for employees managing home loans, risking a possible exodus of lending staff that could further reduce competition in Australia's mortgage market, Australia's Finance Sector Union (FSU) said Monday.Some staff have seen quarterly targets rise by around 15%, while others have been hit with a 33% rise "without consultation or explanation," raising the prospect of burnout and resignations, the FSU said.The union noted that Westpac executives have said that the Australian government's changes to the capital gains tax have already resulted in a 20% drop in investor loan applications, and forecasts for waning housing demand will exert more pressure on employees to meet the revised goals.The new targets will hurt competitiveness in a retail home loan market that is dominated by Commonwealth Bank of Australia (ASX:CBA) and Macquarie Group (ASX:MQG) unit Macquarie Bank, according to the FSU.The union urged Westpac to "properly consult with workers over the targets, commit to one national framework for determining targets along with more transparency surrounding the process, and adjust the targets to reflect changing market conditions."Westpac did not immediately respond to a request for comment from.The company's ASX-listed shares gained 1% in recent Monday trade, while Commonwealth Bank of Australia and Macquarie Group both rose past 1%.

ASX:CBAASX:MQGASX:WBCNZE: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

New Zealand Shares Fall; Ryman Healthcare Allocates NZ$150 Million in Unsubordinated Bonds After Offer Closes

New Zealand shares ended lower on Thursday as Asian markets saw the impact of a lower Wall Street close.The S&P/NZX 50 Index fell 0.39%, or 51.49 points, to close at 13,202.16.On Wednesday, the Nasdaq Composite fell 1.98%, the Dow Jones declined 1.87%, and the S&P 500 was down 1.62%.In domestic news, New Zealand's national asking prices fell 2.5% in May to NZ$833,800 from April, while easing 0.2% year on year, as price expectations dropped and sentiment softened among both buyers and sellers, according to a Trade Me Property survey.Also, New Zealand's Southland and West Coast housing markets dominate the list of the country's strongest performers, while values remain broadly flat at a national level, said Cotality.In corporate news, Ryman Healthcare (ASX:RYM, NZE:RYM) confirmed that its retail offer for six-year, fixed-rate, secured, unsubordinated bonds closed, and NZ$150 million of bonds were allocated to participants involved in the bookbuild process.Westpac Banking (ASX:WBC, NZE:WBC) issued 13 billion yen in tier two subordinated callable instruments maturing in June 2036.

^NZ50ASX:RYMASX:WBCNZE:RYMNZE:WBC

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