Bank won’t provide settlement on a commercial asset loan

Hi guys,

We have assets under finance with a NZ bank. We are now selling those assets, said bank will not provide a settlement letter unless we provide:

Statement of position
Profit and loss
Current financials

We have settled loans with other banks no issues but this bank has repeatedly refused unless we provide the above. We have a buyer lined up ready to purchase the assets with more than enough funds to pay off the loan balances.

Is this legal?

Thanks!