Bank must talk to staff and customers now about National Bank future

The future of the National Bank has been back in the media this week with a NZ Herald story featuring ANZ Australia CEO Mike Smith saying that running two banks is “inefficient” and clearly signalling that change is on the cards.

Finsec welcomed NZ CEO David Hisco’s rejection of media reports that ANZ would close National branches but called for consultation before decisions are made.

“We have told the bank in no uncertain terms that consultation needs to be undertaken before a decision is made on the future of the National Bank,” said Campaigns Director Tali Williams. “That means talking to Finsec as the representative of staff, but also to their customers and the wider community and taking all these views into account.”

“ANZ National would be placing their business at risk if customers and staff feel that the change is a fait accompli,” said Williams. “When the bank’s profits are growing, they would find it very difficult to justify to the New Zealand public any cuts to customer service or local jobs.”

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