Half of NZ finance firms will go, says economist

Half of New Zealand’s finance companies are likely to disappear, according to ANZ/National Bank chief economist Cameron Bagrie.

“I think we’re set for a real shake-out over the next 12 months,” he said.

“The more marginal player is going to find it tougher,” he told the New Zealand Mortgage Brokers Association annual conference.

“The weaker, the shysters, people with poor balance sheets are going to fall by the wayside.”

Bagrie said there are probably 100 finance companies in New Zealand and about 50 or more “are history”.

Read more

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s