ANZ committed to rural banking says CEO

ANZ chief executive David Hisco is worried Hawke's Bay farmers have the wrong idea about the bank's restructuring.
ANZ recently created a Commercial and Agricultural division.
Mr Hisco was concerned the bank was being perceived as lessening the status of its rural banking, which previously had its own department.
"It's purely an administrative title and in no way diminishes the rural division," he said.
"We are 100 per cent committed to agriculture. We do $20 billion in commercial and $17 billion in agriculture so it was a bit of a toss as to how we named it."
He was visiting Hawke's Bay last week "for two glorious days" with management and directors, including chairman Sir Dryden Spring.
He said the Christchurch earthquake would definitely affect the Hawke's Bay economy.
"Even if only 100 families move here it will have an impact, but on the negative side you might find your tradespeople might decide to take off for all the rebuilding work."
He said the Rugby World Cup would be a guaranteed economic stimulus that would help offset the setback of Christchurch earthquake. A frequent visitor to Hawke's Bay because he had friends here, his bank was also very interested in doing more business in the region. "We're big in agriculture and that's the way we're going to stay."