New Zealand

Details

  • Industry: Financial Services
  • Type: Survey report
  • Date: 15/12/2011

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John Kensington

John Kensington 

Head of Financial Services 

+64 21 769 596

Financial Institutions Performance Survey: non-banks, review of 2011 

It has been an endurance test for the finance companies

The sector continues to look forward with a degree of clarity as to what will be required to operate a sustainable business in the future.  What remains is a more streamlined industry, filled with providers that are well established in their chosen sectors; they understand their markets and their underlying customer base.

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The remaining participants in the finance company sector are returning to business as usual.  This is not to say that we have fully moved on from the fallout from the GFC and rationalisation of the sector. 

 

Company failures have continued with three of the last years participants now having gone into receivership or liquidation. Furthermore, cases of those involved in past failures are still being heard in the courts.

Christchurch rebuild

The full costs to Canterbury following the devasting earthquakes have not been determined. Loss adjusters and engineers continue to assess the damage to buildings and infrastructure.

 

What is certain is that Canterbury will be rebuilt, although there is still uncertainty as to where and when the building will commence.

 

The rebuild will offer opportunities to a number of participants in this survey, principally through the plant, equipments and related services that the construction sector will need in order to undertake the work.

 

People will come from across the country and the globe to work on the rebuild and their spending will add welcome stimulus to the region and the nation.

Financial Institutions Performance Survey - FIPS surveys and quarterly updates produced by KPMG's Financial Services team. 
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Financial Services

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