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3 May 2024

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ASB workers to strike as bank proposes an effective pay cut
Workers at a major ASB contact centre in Auckland have voted to take strike action and withdraw their labour following disappointing pay negotiations with the employer and an "offer" to workers that would leave them worse off than the previous year

TWL - TradeWindow capital raising update
TradeWindow (NZX: TWL), the global trade software business, today announces it has secured $500,000 in new equity and met a key condition to the ASB lending covenant waiver

RAD - Bank Facility Update - Capital Raising Requirement Removed
Radius Care (NZX: RAD) is pleased to confirm an amendment to the terms of its lending arrangements with ASB

The Front Page: The legal battle involving ASB Showgrounds and Cornwall Park Trust
The future of many of Auckland's favourite events hangs in the balance amid a bidding war over how a valuable piece of Epsom land should be used. At the centre of this debate is the Auckland Showgrounds (previously known as ASB...

Young adults more likely to have payment problems, be living hand to mouth
Young adults are more likely to have problems meeting payments and be living pay cheque to pay cheque than the population as a whole, research by ASB has revealed.And a lack of savings to fall back on is being blamed.Adam Boyd,...

Another record: ASB profit up 11 per cent to $1.47 billion
Lending growth pushed profits at ASB up 11 per cent to $1.47 billion for the year to June 30, despite a slowdown in the property market.The bank's home lending grew 6 per cent during the year down from 12 per cent in the prior financial...

More mortgage pain: Two major banks lift home loan rates
ASB and Kiwibank have both lifted their mortgage and deposit rates today in response to the Reserve Bank's latest official cash rate hike.ASB's housing variable rate will move from 5.85 per cent to 6.35 per cent, effective from...

ASB Bank predicts record $10/kg milk price for 2022/23
ASB Bank has revised its 2022/23 milk price forecast from $9.20 to $10.00 per kg of milksolids, which would be the first double-digit milk price on record if it comes to pass.The bank's view is based on "woeful" global dairy supply...

ASB mistakenly tells KiwiSaver members they have made no contributions
Some ASB customers have been left annoyed and frustrated after they were sent emails mistakenly implying they had not made any KiwiSaver contributions for the year.The emails were personalised using the member's name and urged them...

TWL - TradeWindow's $2.2 million capital raise oversubscribed
Capital raising programme attracts new institutional investor along with the support of existing cornerstone shareholders ASB Bank, TradeWindow CEO and Founder, AJ Smith and Co-Founder, Kerry Friend

Radius Announces Extension of $23m Bank Facilities
Radius Care (NZX: RAD) is pleased to confirm the extension of the $23 million bridge facilities with ASB to 31 January 2024

ASB gives $150m Auckland city farm to Mount Albert Grammar School - for free
ASB has given the $150 million Auckland city farm it owns to the school which has leased it for nearly a century.Vittoria Shortt, ASB chief executive, said today the bank had given the 8.1ha site it had owned since 1933 to Mount...

Inflation nation: High levels likely to remain for several years, economists predict
From RNZ New Zealanders are expected to face a tough year, with inflation, housing and a tight labour market set to put the screws on the economy.Economic predictions from ASB and the Institute of Economic Research (NZIER) indicate...

Multi-million dollar class action lawsuit against ANZ and ASB to include all affected customers unless they opt-out
Customers who don't want to be part of a multi-million dollar class action lawsuit against the ANZ and ASB banks will have to opt-out if they don't want to take part.The High Court has granted approval for the case to be taken as...

Bank-run KiwiSaver schemes attract lowest satisfaction scores, Consumer survey shows
Bank-run KiwiSaver schemes have attracted the lowest satisfaction ratings in research undertaken by Consumer New Zealand.ANZ and ASB - the two largest providers in New Zealand - both came in last place with a score of 47 per cent...