New Zealand's NBNZ
Business Confidence surged to a decade high in September, showing that 49.
Forward rates are also from the NBNZ
database and are recorded on the same basis.
The areas where the Reserve Bank imposed conditions of consent to the purchase of NBNZ
by ANZ are all on the Reserve Bank's agenda for the development of policies applicable to all registered banks.
Lloyds said it had reviewed NBNZ
and its prospects and had concluded that a sale was in the best interests of the group.
In the context of the proposed sale of NBNZ
, some scenarios are worth elaborating upon.
stands to benefit from the acquisition by increased critical mass, improved geographic diversity, an increased customer base, and the potential for significant cost savings throughout the merged entity, these factors are offset somewhat by the difficulty of integrating two distinct businesses.
Appendix 1 Registered banks as at 31 December 2001 New Zealand incorporated banks Registered bank Owner Abbreviation ANZ Banking Group (New Zealand) Australia and New Zealand ANZ Ltd Banking Group Limited ASB Bank Commonwealth Bank of ASB Australia Bank of New Zealand National Australia Bank BNZ Limited Kiwibank Limited New Zealand Post Limited KIWI The National Bank of Lloyds TSB Group plc NBNZ
New Zealand Limited Rabobank New Zealand Ltd Rabobank Nederland Rabo NZ TSB Bank Limited TSB Community Trust TSB Overseas incorporated banks Registered bank Abbreviation ABN Amro Bank NV ABN Amro AMP Bank Limited AMP Bank of Tokyo-Mitsubishi BTM (Australia) Limited Citibank NA CITI Commonwealth Bank of Australia CBA Deutsche Bank A.
GE Capital already operates the innovative Australian Shell MasterCard product on VisionPLUS, and NBNZ
manages its Visa and private label card accounts on the same PaySys system today.
Indeed, the August editions of the NBNZ
Business Confidence and ANZ Commodity Price Index reports are the only items on the docket.
The 2001 survey includes the ANZ, BNZ, Deutsche Bank, NBNZ
Leading indicators were telegraphing a relative improvement, with the monthly NBNZ
measure of business confidence rising steadily through the second quarter, swinging into positive territory in May for the first time since September 2008.
After the weekend, the trade balance, RBNZ's 2Q inflation forecasts and NBNZ
business sentiment survey will carry moderate interest.