New Zealand Finance Firms See 30% Deposit Surge Outpacing Banks

New Zealand finance companies are attracting a surge of new money as the nation’s new deposit insurance levels the playing field with banks, according to the Reserve Bank.

Deposits with finance companies have increased 30% since the beginning of 2025, the RBNZ said Wednesday in its Financial Stability Report. That outpaces the nation’s four largest banks, which suggests some depositors moved funds out of banks and into finance companies, the central bank said.