ANZ- National bank a bad corporate citizen, says union

The union for ANZ National Bank workers is accusing the company of being a bad corporate citizen.

The bank has announced a profit of $1.16 billion saying its New Zealand arm performed well, benefiting from volatility in the global market.

The Finsec union says ANZ's billion dollar plus surplus is excessive in the current economic environment and is produced on the back of high interest rates, jobs sent offshore and company tax cuts.

Spokesman Andrew Campbell says such profits are putting the bank's Australian shareholders ahead of the interests of New Zealanders.


- Newstalk ZB

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