By Staff Writer
The ANZ Bank is not packing up and moving out of Samoa as suggested in many of the speculations circulating mainly in the business community.
The ANZ Bank Regional Country Manager Mr. Bernard ‘Bernie’ Poort assured there is no such intention and the speculations are ‘….sadly misinformed.”
“ANZ is committed to its business in Samoa, one of our core Pacific markets.” Poort underlined.
“ANZ has had a presence in Samoa since the early 1950s and today, we play an important role in connecting customers to the growing trade and investment opportunities in the region, as well as providing industry insight and links into our home markets of Australia and New Zealand.”
The flare up of speculations may have been sparked by the shock shutdown of production at the Samoa Breweries of ‘Samoa’s Own’ Vailima Beer, that will now be brewed from Fiji.
The ANZ decision to move out of neighbouring American Samoa and the closing of its branch at Vaitele are among the main talking points in several financial circles.
So too is the recent disclosure that the rival Bank South Pacific has taken over from ANZ as the leading bank in Samoa.
The looming fears are of a trend developing of businesses moving out of Samoa.
“We’re one of the only AA- rated banks in the region, we’re very much open for business and we want to continue doing business that will support customer aspirations and grow the communities we’re in,” added the ANZ regional manager.
“Our strategy has never been about being the biggest bank.
“We want to be the best bank and we have invested heavily in digital channels to make banking faster, more accessible and more affordable for people.”
Poort said the ANZ is also committed to “…improving the financial wellbeing of individuals and communities by helping them make the most of their money. “
He said the bank is trying to “…promote and encourage financial literacy through our MoneyMinded program.”
The ANZ Bank is one of four Commercial banks catering for a local population of 200 thousand in Samoa where mainly family remittances is the highest source of revenue for the country.
“Our commitment and our presence is critical to the long term strength of the Samoan economy.
“Through Covid19, we have shouldered a lot of the impact of this period, providing support to customers with hardship options such as payment deferrals, interest only and loan term extension, as well as having the critical conversations to ensure our customers can navigate through the pandemic and become successful in this new world.”
It is unclear how any decision by a long established financial institution like the ANZ Bank will impact on the local economy if they decide to uproot from Samoa.