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Stung by the perception it is rationing credit to businesses, New Zealand's biggest bank, ANZ National, yesterday said it expected to extend $4 billion in new loans to rural and small and medium-sized businesses this year, in line with last year.
"As a bank we have an important role to play in the economy, and to support businesses through all stages of the economic cycle," the bank said.
"By continuing to lend, we're playing our part in ensuring a strong business and rural sector and supporting economic growth and employment in New Zealand."
ANZ National managing director of commercial banking Graham Turley told the Business Herald the $4 billion in new lending it was forecasting was "consistent with what we did last year".
"We're expecting some segments to grow slightly, some to be flat and we're seeing the new lending growth in some sectors to be slower, for example property development. It's a potpourri of different things.
"We here to support good propositions, but there's a perception that we're not."
ANZ National currently lends to 120,000 small to medium-sized enterprises and rural businesses in New Zealand, and has an overall portfolio of over $40 billion.
