BNZ “business as usual”
The general manager of the BNZ (Mr Bill Shaw) said that any freeing up of restrictions on foreign banks operating in Australia “won't affect us too much.” The two-year Campbell report on the' Australian financial system firmly backed the entry of foreign banks into that country on the same terms as local banks. Mr Shaw said the BNZ had been operating in Australia since 1872. Each time it wanted to open a new savings bank it had to seek a licence. ■'But we've never had any trouble getting a licence," he said.
He said any freeing up of the entry of foreign banks would mean more competition for existing banks. “We see Australia as a market with very good potential for the banking and financial services and we want to build on that. But we’ll be expanding in a selective way.” Mr Shaw said it was not proposed to set up a wide retail branch network. The BNZ aimed to service trade between Australia and New Zealand as well as entering normal Australian business. The bank had many valued Australian clients, he said.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19811119.2.115.20
Bibliographic details
Press, 19 November 1981, Page 23
Word Count
187BNZ “business as usual” Press, 19 November 1981, Page 23
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.