New Zealand's Total New Lending Rises in October

MT Newswires Live12-05

New Zealand's total new lending increased to NZ$14.59 billion in October from NZ$14.29 billion in September, according to data from the Reserve Bank of New Zealand released on Friday.

New lending fully secured by residential mortgage rose to NZ$8.92 billion in October from NZ$7.89 billion in the previous month.

Personal consumer new lending decreased to NZ$267 million from NZ$271 million. New lending for business fell to NZ$3.77 billion from NZ$4.7 billion.

Lending for agriculture purposes rose to NZ$1.29 billion from NZ$934 million. Other new lending decreased to NZ$343 million from NZ$495 million.

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