NZ shows ANZ bank path to bigger profits

After the financial crisis, ANZ bank saw its NZ profitability as a model for the way ahead. (Image: Getty)

Fri, 19 Jan 2024

Amid the tumult of the global financial crisis, New Zealand showed ANZ bank a profitable way forward.As ANZ’s head of institutional banking Mark Whelan tells it, the bank pored over the data in the aftermath of the crisis and discovered the NZ part of its institutional operation was actually doing quite well. “When I looked at the returns in the business, New Zealand really stood out to us. “And the reason it stood out, the return on equity in New Zealand at the time was 17% or 18%, fantastic returns. “...

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