Posts Tagged ‘ANZ’

Small business confidence rising in New Zealand

Tuesday, April 15th, 2014
Photo credit; Michael Button

Photo credit; Michael Button

Confidence in New Zealand small businesses is at its highest level in 15 years, according to the latest ANZ survey of small businesses.

In addition to that, this also marks the sixth consecutive quarter that confidence has risen.

Small businesses are seen as a good indicator of the country’s mood because they make up nine out of every ten firms and employ almost a third of New Zealand’s workers.

The service sector tops the survey, but sentiment is also up in retail, construction and agriculture.

ANZ says the record confidence is due to the Canterbury rebuild and business coming out of a tough five years.

Retail and business banking managing director at ANZ Fred Ohlsson said hiring intentions are stronger across small businesses with a third expecting better profits.

“These are confidence levels and activity levels that we will see for quite a while,” he says. “It (the confidence level) has risen slowly, and over time – this is not a one-quarter wonder”.

To read more about this story, click here.

Ex bank employee to pay for fraud

Thursday, August 5th, 2010

Ex-ANZ bank mobile manager Zamir Hussain, has been ordered to pay the bank $1.2 million NZD in damages, reports today.  Mr Hussain perpetuated fraud by over-lending to customers.  ANZ was only aware of the fraud after the borrowers defaulted on their loans.

Mr Hussain was taken to the Employment Relations Authority, who ruled that his breach of duty of care in the 18 mortgage transactions resulted in a fine of $54,000 NZD.  However, in a separate decision, the Employment Relations Authority has ruled that he must pay more than$1.2 million NZD in damages for loss caused by his fraudulent conduct.

”Mr Hussain’s training and experience was such that he must have known of the real prospect of significant losses being caused by his careless or reckless actions,” stated the Employment Relations Authority.

ANZ maintains that it lost more than $3.5 million NZD as a result of the fraud.