Business lending up for BNZ, but mortgage pain to come
Nearly 90% of its home lending is on fixed rates and more New Zealanders are set to find it tough, CEO says.
BNZ CEO Dan Huggins speaks with Maria Slade.
Despite labour shortages, inflation, and ongoing supply chain disruptions, firms borrowed an additional $2.5 billion from the Bank of New Zealand in the year to September, boosting its business lending book by 6%.
“Businesses have proven to be the economy’s shock absorber,” BNZ chief executive
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