Banks urged to withdraw from alliance
Farmers are calling for Kiwi banks and their overseas parent companies need to follow the lead of America's six biggest banks and urgently withdraw from the Net Zero Banking Alliance.
The rural management team across the two banks had been in place for about two years in the build-up to the two brands being brought together as ANZ, he says.
Some rural communities may even find they are better served with a branch closer to their locality when the $100 million changeover of branches is completed, he says. "Over the next two years, we'll increase our branch presence from 75% of where New Zealanders live to almost 90%, so 15 new communities will get branches."
ANZ and National Bank branches located very close to each other will either co-locate to the larger branch or relocate to an area nearby where there is customer demand.
"At the moment we have about 300 branches nationwide and over the next two years as we combine some of our adjacent branches, we'll end up with about 280 full-service branches, still the most by far of any bank.
"This will see us investing $100 million in the next two years to ensure we have a well positioned and attractive branch network for customers in current and new communities."
The ANZ is to adopt The National Bank's technology system and most of its products, the banks says. Customers will continue to be served by the same staff – all frontline staff will remain with the new ANZ.
All sponsorship and community involvement commitments will continue including Calf Club Day, national and local field days and The Young Farmer of the Year competition.
Hisco says The National Bank brand would progressively be phased out over about two years from about 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 10 years of reducing duplication, the next logical step is to combine them into one," Hisco says.
"The black horse and green colour branding of The National Bank are licensed from British bank Lloyds TSB, and that licence expires in 2014. So it makes sense to change to ANZ, the brand used in 32 markets around the world."
