Latest Banking News

CDL Investments New Zealand reported a modest profit decline for the first half of 2026, reflecting ongoing residential market challenges, while securing a $20 million credit facility to support future development.

PM Capital Global Opportunities Fund Limited delivered a 41.5% jump in profit after tax to $238 million for FY26 and raised its fully franked dividend guidance to 16 cents for FY27, reflecting strong portfolio returns and robust earnings reserves.

Arena REIT faces a rent payment default from key tenant Edge Early Learning, representing 14% of rental income, prompting default notices and a delay in FY2026 financial results.

Westpac Banking Corporation reported a 3% increase in statutory net profit to $1.8 billion in Q3 2026, supported by loan and deposit growth alongside stable capital ratios and ongoing transformation efforts.

Locality Planning Energy has consolidated its debt into a $7.2 million Westpac facility, lowering borrowing costs and freeing capital to back a $5.8 million development pipeline.

A New Zealand community group has filed a court application to halt the Toi Foundation trustees from voting on the sale of TSB Bank to Heartland, potentially complicating the merger timeline.

Kingfish Limited posted a net loss of NZD 13.6 million for FY2026, underperforming the NZX50 benchmark, but showed early signs of recovery in FY2027. The company re-elected two directors and maintained its focus on quality growth stocks amid a cautious economic outlook.

Nick Scali Limited posted a 31% jump in net profit after tax to $75.7 million for FY26, driven by margin gains and UK sales recovery, and announced a fully franked final dividend of 39 cents per share.

Block, Inc. delivered a robust Q2 2026 with 25% gross profit growth, driven by strong Cash App and Square performances, and raised its full-year guidance reflecting accelerating AI integration and hardware innovation.

AMP Limited reported a robust first half of 2026, with statutory profit rising 57% to $154 million and underlying profit up 33%, driven by strong Platforms growth, positive cashflows, and a doubling of China partnership contributions.

Argo Investments reported a stable $260.2 million profit for FY2026, declared a record fully franked 38.5c dividend, and announced a shift to quarterly dividends from January 2027 with a forecast 40c annual payout.

Pinnacle Investment Management delivered a 31.5% jump in net profit after tax to $176.7 million for FY26, boosted by full ownership of Pacific Asset Management and strong inflows across retail, institutional, and international channels.