ANZ NZ welcomes independent reviews

Company News

by Jessica Amir

ANZ New Zealand (ASX:ANZ) says it’s willing work with the Reserve Bank of New Zealand (RBNZ) on independent reviews of its capital models and attestation process.

It comes after Antonia Watson stepped in as Acting CEO of ANZ New Zealand following the departure of David Hisco, following an internal review of his personal expenses.

The bank will now work with the RBNZ under section 95 of the RBNZ Act to commission an independent third party to look at its compliance with its capital adequacy requirements and the Directors’ attestation and assurance framework.

As at 31 March 2019, ANZ NZ held over $12.4 billion of capital, almost $3.5 billion more than its regulatory requirement.

Shares in ANZ Bank New Zealand (ASX:ANZ) closed 1.18 per cent lower at $28.54 on Friday.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.