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ASB has this month removed a number of transaction fees across its personal and business accounts, including fees on Visa Debit cards, staff assisted transactions, and the establishment of personal overdrafts. Customers across more than 800,000 ...

Business Scoop provides news and views on Business and Markets from New Zealand

The latest edition of the Westpac-Melbourne Institute survey pointed to consumer sentiment remaining near its historic lows in December, the index rising just 2.7% to 82.1 compared to a long-run average of 100.8. The probability of further rate hikes may be dwindling, but consumers find themselves under considerable financial pressure as a result of the tightening experienced to date; the cumulative hit to real incomes from inflation; and a rising tax take, the latter principally a consequence o...

The RBA’s November Statement on Monetary Policy upgrades the inflation and growth forecasts even with a higher assumed path for interest rates. How this can coexist with an unusually large fall in household sector real incomes remains to be seen. Risks to the inflation forecast are also skewed to the upside. If things turn out in line with the RBA’s revised forecasts, they might not need to raise rates again. But the bar to further hikes is clearly lower now; the RBA has almost no margin for...

Business Scoop provides news and views on Business and Markets from New Zealand

ASB's mobile and online banking offering has earned Canstar’s top award for digital banking, for a second consecutive year. The winning combination of tools for saving, budgeting and managing accounts has secured ASB the victory, with the expert panel ...

Business Scoop provides news and views on Business and Markets from New Zealand

September 26 2023. ASB’s online budgeting tools, supporting Kiwis through the cost-of-living crisis, have helped propel it to the top of the Digital Banking award rankings for the second year in a row. ASB’s win of Digital Banking Bank of the ...

Business Scoop provides news and views on Business and Markets from New Zealand

ASB today reported a cash net profit after tax (NPAT) of $1,550 million for the 12 months to 30 June 2023, an increase of $132 million or 9% on the prior year. The result reflects a strong first half, with performance softening for the six months ...