Westpac NZ's loan provision ratio dropped to 0.4% from 0.5%. On Friday Westpac NZ's economists predicted house prices would fall 15% over 2022 and 2023. The first assessed Westpac NZ’s risk governance processes and practices applied by the Westpac NZ Board and executive management, and the second aims to provide assurance that the actions Westpac NZ takes to improve the management of liquidity risks, and the culture surrounding it, are effective. Separately Deloitte is helping Westpac NZ with IT issues. Westpac NZ attributes its increase in half-year expenses primarily to increased investment in technology resilience and data capability along with risk and compliance projects.

Source: New Zealand Herald May 09, 2022 16:03 UTC