The Reserve Bank of New Zealand (RBNZ) regulates banks operating in the country to ensure a safe and efficient domestic financial system, but a high percentage of bank assets that fall under its domain are foreign owned, leading to the challenge of compliance with the bank’s home regulations and New Zealand’s, as its host. However, foreign-owned banks can and do thrive in New Zealand’s soundly maintained financial sector.
On November 15, the Commonwealth Bank of Australia (CBA) held its annual general meeting (AGM), during which a small but notable protest vote emerged against the bank’s board appointments and executive remunerations.
Around the world, including in Australia, Internet banking has become the new normal. Although most Australians bank online, a large percentage have yet to jump on board. How can banks maximize the advantages of Internet banking while minimizing the costs, and ensure their services are equally rewarding to all customers?
Down under, Australia was an oasis of relative calm and prosperity during the global financial crisis; the turmoil that hit especially US mortgage lenders hard seemed to leave their Australian counterparts untouched. What exactly shielded them from the rapids that swept away economic prosperity around the globe?
Perhaps the biggest challenge facing the Australian economy right now continues to be the dramatic retreat of hard commodity prices from the generational highs back in 2011.
As one of the biggest banks operating in a commodity-exporting country such as Australia, much of our time is spent trying to comprehend how trends in commodity markets are likely to impact the economy, and our customers. Without a doubt, one of the biggest issues we face right now stems from the dramatic declines we have seen in industrial
Property prices in Australia and New Zealand have been rising steadily for the past few months.