New Zealand

Details

  • Industry: Financial Services
  • Type: Survey report
  • Date: 11/04/2012

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 John Kensington

John Kensington 

Head of Financial Services

+64 9 367 5866

 

 Matt Prichard

Matt Prichard 

Head of Audit

+64 9 367 5846

FIPS quarterly - December 2011 quarter 

FIPS quarterly

 

Results from the major banks to 31 December 2011

 

Survey participants achieved a profit of $1,147m in the quarter, an increase of $77m compared to September 2011. The lending environment is still flat.

 

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  • December 2011 profits are $430m higher than those earned in the December 2010 quarter.


  • Aggregate gross loans for survey participants reduced by 0.04% in the quarter, increasing by 0.19% in the year.


  • The official cash rate remains at 2.5%, albeit there is mounting expectation that there will be increases later in 2012.

 

  • After a period of falling seismic activity in Canterbury there was a further earthquake in the region on 23 December. As such there continues to be uncertainty surrounding the timing and extent of the rebuild. Public pressure for action is increasing.


  • Total assets of survey participants fell
    $6,186m in the quarter, following three
    quarters of growth.

 

Full 2011 survey

 

Current industry trends and the performance of the participants of this survey during the year 2011 will be expanded upon and discussed in our Annual Financial Institutions Performance Survey.  This will be published on 23rd April 2012.

 

Please contact us if you would like to hear more about this latest FIPS quarterly.

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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