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Pyne Gould's Marac Eyes Lower Funding Costs In Banking

Pyne Gould's Marac Eyes Lower Funding Costs In Banking
Wellington, Feb 26 NZPA - Pyne Gould Corporation said a banking licence for its finance subsidiary Marac will give it a lower cost of funding. The company is focusing on raising Marac's credit rating a notch to investment grade, which is needed for a bank licence.

SBS Bank Makes Profit In Demanding Environment

SBS Bank Makes Profit In Demanding Environment
Wellington, Nov 26 NZPA - SBS Bank said customer deposits grew by nearly $300 million, or more than 15 percent, in the past 12 months since it became a bank.

Appointment Brings NZ Super Fund And Infratil Even Closer

Appointment Brings NZ Super Fund And Infratil Even Closer
Wellington, Nov 6 NZPA - The Government has brought the New Zealand Superannuation Fund and infrastructure company Infratil even closer today with a key appointment.

Pyne Gould Corp Says It Is Time To Tidy Up The Boardroom

Pyne Gould Corp Says It Is Time To Tidy Up The Boardroom
Wellington Oct 30 NZPA - In the wake of its massive capital raising, Pyne Gould Corp has signalled a boardroom shake up.

ANZ National Profit Fall In Otherwise Spectacular Parent Result

ANZ National Profit Fall In Otherwise Spectacular Parent Result
Wellington, Oct 29 NZPA - Had it not been for New Zealand, it would have been a spectacular result, Australia and New Zealand Banking Group Ltd chief executive Mike Smith said today.

OCR Not The Problem, Property Obsession Is - Commentators

OCR Not The Problem, Property Obsession Is - Commentators
By Kate Chapman of NZPA Wellington, Sept 2 NZPA - New Zealand is "using the credit card to pay the mortgage" and if it continues we will lose our sovereignty to Australia, politicians were told today.

BNZ Reports $183m Nine Month Loss After Disputed Tax Bill

BNZ Reports $183m Nine Month Loss After Disputed Tax Bill
Wellington, Sept 1 NZPA - Bank of New Zealand has reported a $183 million bottom line loss in the nine months to June 30 after running large taxation items from the disputed structured finance court case through its income statement.

Banks Say Extra Costs From New Laws Will Be Passed To Customers

Wellington, Aug 25 NZPA - Proposed legislation fighting money laundering would costs banks $350 million and that would be passed on to customers, banks told politicians yesterday.

ASB Profit Falls 17.5 Percent, Bank Defends Its Role

ASB Profit Falls 17.5 Percent, Bank Defends Its Role
Wellington, Aug 12 NZPA - The perception of an Australian bank reaping profits for its own benefit is far from the reality, ASB Bank Ltd said in reporting a $NZ425 million annual profit. The after-tax operating profit in the year to June 30 is down 17.5 percent on last year.

John Duncan To Head New PGC Co Perpetual Asset Management

John Duncan To Head New PGC Co Perpetual Asset Management
Wellington, Aug 11 NZPA - Pyne Gould Corporation (PGC) has appointed John Duncan, a former senior Macquarie Group executive, as chief executive of its new asset management company, Perpetual Asset Management.

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