Bank lending margins begin to contract: PwC
“I wouldn't call it a significant contraction,” says PwC partner Sam Shuttleworth.
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The lending margins of New Zealand’s five major banks are starting to contract because of stiff competition, according to accounting firm Pwc.
Although the five banks’ collective pre-tax profit rose by 5.9%, or $94 million, to $1.69 billion in the March quarter, their net interest income fell by
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Jenny Ruth
Tue, 23 Jun 2015
Tue, 23 Jun 2015
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Bank lending margins begin to contract: PwC
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