NZ bankers assn: Banks critical to NZ’s economic recovery

Banks critical to NZ’s economic recovery, says new Bankers’ Association Chair

A strong and resilient banking sector will play a critical role in New Zealand’s ongoing economic recovery, said the new chairman of the New Zealand Bankers’ Association (NZBA), David Hisco.

Mr Hisco, CEO of ANZ National, has been elected chair of the NZBA for 2012/13. Westpac New Zealand chief executive Peter Clare is the deputy chair.

“It is a privilege to have the opportunity to represent New Zealand’s banking sector, which is one of the most secure and efficient in the world,” Mr Hisco said.

“The sector has arguably never been more important to New Zealand. In the post-crisis environment, having a strong and resilient banking system is critical for New Zealand’s ongoing economic recovery.

“I look forward to working with colleagues from across the industry to promote a banking sector that continues to invest in New Zealand, while supporting consumers, businesses and the country's economic future.”

ANZ takes over the chair bank role from Bank of New Zealand. “I look forward to working with David Hisco, and am pleased to acknowledge the contribution of Andrew Thorburn who chaired the NZBA Council over the last year. Of particular note during that time was the banking industry’s response to those affected by the Canterbury earthquakes,” said NZBA chief executive Kirk Hope.

The election of a new chair coincides with Mr Hope recently taking on the role of NZBA chief executive.

Established in 1891, NZBA is the industry's voice and promotes policy outcomes which contribute to a successful banking system that benefits New Zealanders and the New Zealand economy. NZBA also facilitates good practice in the banking industry through the Code of Banking Practice.

NZBA membership is open to any bank registered under the Reserve Bank of New Zealand Act 1989. Currently 13 registered banks are NZBA members. NZBA’s governing body is its council, comprising the chief executive of each member bank.

ENDS

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