AGP Executive Report
Last update: 10 hours agoBanking Results: New Zealand’s BNZ reported annual profit down 23% to NZ$1.16 billion, with bad loans rising as higher rates and flat house prices slowed credit growth. Excluding a software write-down, profit fell about 6%. Card Security: Muji says a cyberattack may have exposed 1.09 million customer records, including full card numbers for about 345,000 customers—another warning to watch for suspicious transactions. Household Debt: Mississippi ranked worst for credit-card strain in a new U.S. study, with balances using 29.6% of available credit; nationwide card balances reached $1.26 trillion. Savings and Rates: The Bank of Canada raised rates for the first time in three years, while UK provider Nationwide launched a 5.30% savings account, underscoring the shifting outlook for borrowers and savers.
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