Westpac is taking a holistic view of its role in the economy, says general manager business banking, Ian Blair, who visited his expanded team of business bankers and key clients in Hawke's Bay last week.
"Our role is to move money around the economy," he said. "It is important to get
money back but it is also important we take opportunities presented at the back end of the recession." He said optimism was an important factor for growth but demand for borrowing had been soft.
"Nationally we are working on a concept called Grow New Zealand that looks at impediments to investing."
The bank was offering "thought leadership" to stimulate discussion and switch the mood from "caution to confidence".
"[Looking at] what are the challenges, what do you need to gain confidence again," Mr Blair said.
In Hawke's Bay, eight new business bankers had been appointed.
"It may seem counter-cyclical, but when times are tough it is important to have local people alongside who understand the Bay well."
He said clients needed to know the bank understood difficult situations were not always the client's fault. "It's not a management issue, it's an economic issue and it is important the bank stand beside businesses in difficult times - we're here to support businesses."
