21 Feb 2009

ANZ announces $4bn business lending

6:18 am on 21 February 2009

ANZ National bank has announced it will lend $4 billion for small and medium business and rural sectors in the coming year.

The managing director of ANZ National's commercial division, Graham Turley, says the bank has made the money available to counter the perception by business associations and the media that banks are not lending.

Mr Turley says banks have tightened lending criteria in recent years to reflect the tougher economic times, asking more questions of customers to ensure that any new lending is sustainable.

The new lending will provide working capital to help businesses with cash-flow, will support employment and investment and assist export businesses.