Fitch Ratings has affirmed its AA- credit rating for New Zealand’s big four banks, saying they have performed well in a weak economy and will probably continue to produce strong results this year.

A multi-million dollar deal has been signed between Westpac and an ATM provider that will see 80% of the bank’s cash machines replaced with touch screens by 2019.

The deal promises to save the bank money, as well as provide a better service for customers and promote interaction between customers and staff members. The project will take nine years to complete.

NCR SelfServ will install the more than 400 ATMs across the country. The deal includes ATM and TCR hardware and software and on-site maintenance, remote support and help desk services.

It was a year of two halves for Westpac, mirroring the wild ride the rest of the economy has been on.

Westpac New Zealand chief executive George Frazis told NBR one of the major features of the year was the difference in results between the six months to March and the six months to September.

And, this, he said, was tied to the health of the New Zealand economy in general.

“It’s really been a performance of two halves for us,” he said. “In the second half we started to see some growth and momentum.”