ANZ clinches Aussie gov’t support for Pacific operations

ANZ will invest $50m in its Pacific systems and enhance its digital bank offering.

ANZ Bank is receiving up to a A$2b guarantee from the Australian government to support the bank’s Pacific operations for the next 10 years.

As part of the arrangement, ANZ will invest a further $50m in its Pacific banking systems to enhance the digital banking offering.

ANZ said that it will maintain its existing fee-free offering for International Money Transfers made via ANZ retail digital channels into the Pacific over the life of the guarantee.

ANZ expects the guarantee to commence in the second half of 2025, following the commencement of legislation enabling the guarantee.

ANZ has operations in Fiji, Papua New Guinea, Samoa, Vanuatu, Tonga, Solomon Islands, Timor-Leste, Kiribati and the Cook Islands.

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