New Zealand

Earnings of ANZ, ASB, BNZ, Westpac and Kiwibank for the last six months of 2011 rose by 25 percent to $2.8 billion.

New Zealand’s central bank will delay an increase in the core funding ratio to 75 percent from 70 percent by about six months to Jan. 1, 2013.

The Reserve Bank of New Zealand is proposing that banks implement the Basel III capital adequacy requirements.

Renewal of contract shows the lender’s trust in IBM’s advanced technologies which create additional synergies, flexibility and choice for users.

The lender follows footstep of Bank of Baroda which gained a local banking licence in 2009.

Logica All Payments Solution will help Westpac New Zealand launch new products and services to its 1.2 million customers.

Bank of Baroda will expand its banking operations in New Zealand with two new branches in Auckland and Wellington.

The lender’s board had approved the expansion of the bank’s operations with two new branches in Auckland and in Wellington.

Rebranding focuses on integrating lender’s Wealth group that pools lender’s insurance and fund management businesses.

NAB’s takeover of $284mln AXA APH assets still needs nod from NZ's Commerce Commission.