ANZ National opts in to deposit guarantee scheme

Tuesday, 14 October 2008, 2:14 pm
Press Release: ANZ Bank

Monday 13 October 2008

ANZ National opts in to deposit guarantee scheme

Wellington, New Zealand: Graham Hodges, CEO of ANZ National said this afternoon that the bank, (incorporating ANZ and The National Bank) intends to opt-in to the deposit guarantee scheme announced by the Reserve Bank of New Zealand yesterday.

“ANZ National is strong, well-capitalised and holds a AA credit rating from Standard & Poor’s, putting it amongst the most highly-rated banking groups in the world” said Mr Hodges.

“As Governor Bollard reiterated last week, the New Zealand banking system is fundamentally sound” continues Mr Hodges.

“However this guarantee scheme sends an important signal to New Zealanders and we’re pleased to offer this reassurance to our customers who are understandably concerned by the impact of the global uncertainty.”

ANZ National is working with the Reserve Bank to implement the scheme.

ENDS

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