ANZ makes it 5 in a row: Bank of the Year – Agribusiness

ANZ makes it 5 in a row: Bank of the Year – Agribusiness

Agribusiness is a vital part of the New Zealand and world economy, contributing approximately 7% to New Zealand GDP and supplying produce feeds over 40 million people, with 7,500 animal products and 3,800 dairy products going to 100 countries every month. It is a unique industry that requires a specialised banking approach.

Each year CANSTAR researches the agribusiness offerings available from New Zealand financial institutions. This consists of a review of the finance and deposit products that are available, as well as assessment of those institutional factors that can drive success, including the availability of relationship managers, the range of more specialised products and services, online banking functionality and information and education services offered to customers. In 2016 CANSTAR is pleased to announce that, for a phenomenal 5 years in a row, ANZ has been awarded Bank of the Year – Agribusiness.

"CANSTAR's Agribusiness award recognises the institution that is leading the pack when it comes to product and services for that industry and ANZ has once again proven to be providing a strong proposition for NZ farmers," said CANSTAR General Manager – New Zealand, Jose George.

"ANZ has a compelling product offering of bespoke or structured deposit and lending products that assist with the day-to-day operation and funding of an agribusiness. This includes cost-effective environmental loans that assist farmers to invest in environmentally sustainable practises, pasture and performance loans to assist investment in pasture and forage growth and ANZ's terrific Farm Start-up package helping a new generation of farmers get started with both product and support services."

ANZ has also invested heavily in having a wide network of relationship managers to assist with their customer’s needs. This is important as no two farms are exactly the same and therefore require relationship managers with both experience and expertise to tailor and structure their offerings.

More broadly ANZ assists in the development and knowledge of their customers via reports, blog posts, industry initiatives and awards.

Responding to the award Mark Hiddleston, ANZ’s Managing Director Commercial & Agri said “We’re delighted to win this prestigious award for the fifth consecutive year. New Zealand Agribusiness is an exciting and diverse sector with a great future. We’re proud to help it realise its potential.

“Our team works hard to provide the best products and support to our agribusiness customers and this award recognises the depth of our proposition.”

For the annual agribusiness award, CANSTAR compares banking products and services valued by farmers, including transaction and savings accounts, credit cards, term loans and working capital/overdraft products. It also considers each institution’s agribusiness banking capabilities in terms of the number of agribusiness relationship managers, the range of additional products and other specialist services, online banking functionality and information and education resources. In addition to specialist agribusiness managers, support for agribusiness needs to be evident across the entire organization.

The 2016 Agribusiness Award report can be downloaded here.

ENDS

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