New Zealand’s largest bank is lending less cash to businesses than it was half a decade ago. 

Figures from the Reserve Bank show a softening across all bank business lending since the pandemic, with ANZ the only one going backwards. 

The overall growth rate across all banks has slowed to just 1.5%, down from 6% in 2013.  

ANZ CEO Antonia Watson told Mike Hosking much of the drop is caused by a decrease in lending to commercial property. 

She says their decision was to support their existing customers through rising interest rates and tougher circumstances as opposed to taking on new customers.  

However, she confirmed the bank is back to taking on new customers. 

LISTEN ABOVE 

New Zealand’s largest bank is lending less cash to businesses than it was half a decade ago.&nbsp;
Figures from the Reserve Bank show a softening across all bank business lending since the pandemic, with ANZ the only one going backwards.&nbsp;
The overall growth rate across all banks has slowed to just 1.5%, down from 6% in 2013. &nbsp;
ANZ CEO Antonia Watson told Mike Hosking much of the drop is caused by a decrease in lending to commercial property.&nbsp;
She says their decision was to support their existing customers through rising interest rates and tougher circumstances as opposed to taking on new customers. &nbsp;
However, she confirmed the bank is back to taking on new customers.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Antonia Watson: ANZ CEO on the bank lending less to businesses than it did five years ago

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f6a97c89-607b-4fde-ab80-b30501631835/transcript