22 Aug 2011

No funding issues for ANZ, says CEO

6:59 am on 22 August 2011

ANZ New Zealand chief executive David Hisco says the bank is well-placed to weather the rising concern globally about credit drying up.

Mr Hisco says ANZ New Zealand does not have funding issues and, along with all banks in this part of the world, is considered a safe bet.

He says ANZ has enough liquid assets to cover offshore maturities for well over 12 months.

Mr Hisco says the bank doesn't need to raise capital through wholesale funding markets at present, but is "out there regularly" to keep up its relationships.

He says US and European investors tend to put Australia and New Zealand in the same category, and this area appears to be one of the more attractive places to invest.