ANZ to amalgamate
ANZ Bank has announced that after ten years of operating separately as ANZ and The National Bank of New Zealand, the two arms are to be brought together under the ANZ brand.
ANZ National Bank CEO David Hisco said The National Bank brand would progressively be phased out over about two years from around the end of October. The company’s legal name would become ANZ Bank New Zealand Ltd.
“ANZ bought The National Bank in 2003 and after almost ten years of reducing duplication, the next logical step is to combine them into one,” Mr Hisco said.
The bank was at pains to stress that all communities currently served by The National Bank will still be served by the revamped ANZ model.
“All our frontline staff will continue to be part of the new ANZ – there will be no frontline job losses as a result of the brand change. The National Bank’s sponsorships and community commitments will continue under the ANZ brand,” Mr Hisco said.
“Customers will still be able to see the same people they’ve always dealt with in the same communities we’re in now. For most National Bank customers, it will be business as usual – they will see the same people, just wearing a different uniform.”
For ANZ and National Bank branches located very close to each other, this means that in most cases those branches will either co-locate to the larger branch or relocate to an area nearby where there is customer demand.
Mr Hisco said: “The new ANZ will combine the best of both banks. ANZ’s strength and presence across Asia Pacific and The National Bank’s reputation for great customer service and internet banking will be the cornerstones of the new ANZ. We want to be the best bank in New Zealand.”