28 Sep 2012

Westpac to target National Bank customers

10:11 am on 28 September 2012

Westpac Bank says it will target customers from its rival National Bank who could be unhappy that the black rearing horse will be no more.

On Wednesday, ANZ National Bank chief executive David Hisco announced the green National brand will be scrapped in the next two years and replaced solely with the blue ANZ.

Mr Hisco was confident at a news conference announcing the decision that customers will be happy to change over.

He says he hopes logic will prevail when customers realise that it is the same person, place, product and technology they will be dealing with - just a different colour.

But Westpac general manager of retail banks Gai McGrath says people should be able to choose where to bank themselves.

Ms McGrath says she believes a number of people will be considering their situation and some will want to make decisions straight away while others will want to see what it will mean for them.

"But we do know it's a long and established brand in New Zealand, so people will be very concerned about not being able to make this choice for themselves".

Ms McGrath says it will target National Bank customers a variety of ways, including promoting Westpac in the regions.

A process in place for people to switch banks, so it won't be a costly exercise, she says.