Banks give millions to Christchurch

Westpac Cashel Mall had glass damage from the earthquake. Photo / Pam Johnson

Banks and other business are donating millions of dollars.

ANZ New Zealand has opened an account at branches of the ANZ and the National Bank around the country to take donations for the Red Cross Canterbury Earthquake Appeal. It has also given $1 million to the Christchurch Mayoral Relief Fund.

Another $1 million has been given to the fund by Fonterra.

Westpac Bank also announced the establishment of the Westpac Canterbury Care Fund with $1 million. The Salvation Army will be a primary partner.

As well, Westpac is setting aside a $1 billion loan pool to help with rebuilding in the city.