NBS apologises and acknowledges CCCFA issues and confirms remediation complete
NBS acknowledges historical compliance issues they self-identified which prompted a Commerce Commission’s investigation under the Credit Contracts and Consumer Finance Act 2003 (CCCFA) has resulted in civil proceedings being filed.
NBS said they have fully cooperated with the Commerce Commission investigation and have completed a remediation programme to address clients who were impacted.
Also, NBS and the Commission are aligned on the penalty to be considered by the High Court and NBS has allowed for this penalty in its 2026 financial statements.
NBS has taken comprehensive steps to remediate impacted clients and strengthen its operations, including:
- Identifying and communicating to affected clients, and completing remediation
- Enhancing internal systems and processes
- Strengthening governance and compliance oversight
It is of the highest priority to NBS that they are fully committed to responsible lending and to delivering fair and transparent outcomes for its clients and communities.
Gina Dellabarca, Chief Executive said,
“We apologise to our clients affected and agree these historic issues should not have occurred. We have taken extensive steps to address the issues, support impacted clients, and strengthened our systems and processes. NBS remains committed to responsible lending outcomes for our clients and meeting regulatory expectations.
NBS people take pride in providing exceptional personal service and use their local knowledge to help support their clients and over the last 10 years, NBS has invested over $8 million back into the communities we serve.”
For further information on NBS visit nbs.co.nz.
For media inquiries, please contact:
Robyn Sheves
Head of Marketing and Community, NBS
M: 027 366 9170
E: robyn.s@nbs.co.nz