New Zealand's Commerce Commission declined an application from the New Zealand Banking Association (NZBA), which includes Commonwealth Bank of Australia's (ASX:CBA) ASB Bank unit, for interim authorization for the group and other parties to collectively negotiate with Evergreen International over cash-in-transit services, according to a Thursday statement by the Commission.

The Commission said it is continuing to consider NZBA's application for full authorization.

NZBA also applied for interim authorization to allow it and other parties to negotiate extensions to their existing contracts and to bargain for new agreements with Evergreen, the Commission added.

NZBA did not immediately respond to MT Newswires' request for comment.

Shares of ANZ Group Holdings (NZE:ANZ, ASX:ANZ) fell 5% in recent Thursday trade in Australia, Westpac Banking (NZE:WBC, ASX:WBC) dropped 2%, and Heartland Group Holdings (NZE:HGH, ASX:HGH) shed 1%.