New Zealand Lending Grows in July as Housing, Agricultural Loans Rise

MT Newswires Live11:20

New Zealand's lending from registered banks and non-bank lending institutions increased in July, driven by growth in housing and agricultural lending, while personal consumer and business lending edged lower compared with the previous month, according to data from the Reserve Bank of New Zealand released on Monday.

Total housing loans from registered banks and non-bank lending institutions in New Zealand grew to NZ$401.94 billion in July from NZ$400.51 billion in June. Total personal consumer lending fell to NZ$14.43 billion in July from NZ$14.49 billion in the previous month.

Total business lending decreased to NZ$142.86 billion in the period, from NZ$143.14 billion. Meanwhile, agricultural lending rose to NZ$65.24 billion in July, from NZ$64.5 billion in the previous month.

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