ANZ Bank will also honour spirit of govt-backed business loans

Tue, 31 Mar 2020

New Zealand's largest bank, ANZ Bank, said it will also abide by the spirit of the government's $6.25 billion business finance guarantee scheme and will base its assessment of a firm's solvency on how they were performing before the coronavirus crisis and the nation's shutdown. This follows the government-owned Kiwibank saying it would take such a stance in lending to businesses. ANZ NZ chief executive Antonia Watson said while banks in New Zealand have a legislative requirement to behave responsibly when lending to consumers, they also h...

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