Coronavirus

ANZ: bank and customer balance sheets in better shape than pre-GFC

Jenny Ruth
Fri, 01 May 2020

ANZ Bank New Zealand and many of its business customers' balance sheets were in much better shape heading into the coronavirus crisis than they were before the global financial crisis, according to chief executive Antonia Watson.That's one reason ANZ has approved only a small number of loans under the business finance guarantee scheme, of which the government is guaranteeing up to 80 percent.ANZ's parent reported the NZ arm had received 820 requests for BFGS loans and Watson said it's more like 1,000 approaches now."We have...

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