New Zealand

Details

  • Industry: Financial Services
  • Type: Survey report
  • Date: 20/12/2010

Contacts

Godfrey Boyce

Financial Services 

+64 4 816 4514


 
  

Financial Institutions Performance Survey - Non-banks: Review of 2010 

Proofing against future crunches

 

Despite pockets of growth, particularly in the export sector, New Zealand’s economic activity is subdued. Faced with uncertainty, businesses and consumers are reluctant to take on new debt and, where possible, keen to repay existing debt.

 

In the absence of balance sheet growth and constrained earnings due to bad and doubtful debts, the focus for many in the non-bank sector has been on “future proofing” their businesses.


However, surviving the dramatic events of the last three years is still no guarantee of maintaining a long-term position in the market.

Financial Institutions Performance Survey
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The year 2010 is the first year that the non-bank sector have been able to look forward with a degree of clarity as to what will be required to operate a sustainable business in the future.

 

The last three years have been a period of fundamental change and rationalisation across the whole sector.

 

The catalysts were the collapse of the property develop- ment finance companies, domestic recession and flow-on effects of the global financial crisis.

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

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