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$3B in lending to support small and medium-sized Business

ANZ New Zealand commits $3 billion in new lending to support small and medium-sized business in 2011

- Releases first Annual Review of performance and priorities in NZ -

ANZ New Zealand today announced that it would make $3 billion in new lending available during 2011 to assist small and medium-sized businesses access appropriate credit and assist New Zealand’s continuing economic recovery.

The announcement coincides with ANZ New Zealand’s first Annual Review setting out the bank’s performance in 2010 and its priorities in New Zealand.

The $3 billion commitment to new lending is in addition to the $3.5 billion ANZ New Zealand already expects to lend in 2011 to re-finance existing customer facilities.

The funds will be available using normal lending criteria and will help provide fundamentally sound businesses with support for new growth and new investment, with working capital and with trade finance to assist New Zealand’s export-led recovery.

Also announced today is the establishment of a new specialised Business Banking unit, reflecting the bank’s new dedicated focus on small business and continued funding for initiatives to build knowledge and capability within small and medium-sized business.

ENDS

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