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9 results for “westpac”
Westpac Banking Corporation reported a statutory net profit of A$3.4 billion for the first half of 2026, as strong lending growth was offset by a decline in net interest margins to 1.89%.
New Zealand's FMA and Westpac NZ have issued a major alert following a spike in AI-driven deepfake scams. With 64% of bank fraud now originating on social media, authorities are calling for greater platform accountability.
New Zealand recorded 37,813 new home consents in the year to March 2026, an 11% increase that ends a three-year period of decline. While Auckland and Canterbury lead the recovery, economists warn that rising material costs and global supply chain disruptions could temper future growth.
New Zealand's Q1 2026 employment data is set for release on May 6, with analysts forecasting an unemployment rate between 5.4% and 5.5%.
New Zealand's national median property value rose slightly to $809,101 in April, but a 0.1% decline in Auckland and Wellington highlights a widening regional divide as the RBNZ maintains a hawkish stance.
Bank of New Zealand has increased its 18-month, two-year, and three-year fixed housing interest rates by 10 basis points, effective May 5, 2026. These adjustments come as the bank navigates rising wholesale costs and a 37.9% decrease in half-year statutory net profit.
New Zealand small businesses are facing a dual financial squeeze as KiwiSaver employer contributions rise to 3.5% alongside surging fuel costs. Recent data shows 17% of SMEs have less than a month of cash reserves, raising concerns about future hiring and wage growth.
Auckland's median house price dipped 0.1% to just over $1.04 million in April 2026, contrasting with a 0.1% national increase. High inventory and looming OCR hikes continue to weigh on NZ's largest property market.
Australia's 2026 economic outlook remains cautious, with the IMF projecting 2.0% GDP growth and inflation hitting 4.0%. As the RBA prepares for further rate hikes, consumer sentiment has fallen to near-record lows.