BNZ chief executive handing over to bank's first female leader

Thursday, 2 November 2017

Anthony Healy is taking a new role with NAB.

Angela Mentis has been appointed managing director and chief executive of BNZ, taking over from Anthony Healy.

Healy is taking the role of chief customer officer, business and private banking, at BNZ's parent bank NAB - the role formerly held by Mentis.

BNZ chief executive Angie Mentis said it only had 0.7 complaints per 1000 customers.

'Angela will be the first female managing director and chief executive of BNZ. She has been on the BNZ board since December 2016 and knows BNZ and its strategy well. Angela is well-placed to ensure that BNZ remains focused on delivering for its customers, investors and employees,' said the bank's chairman, Doug McKay,

The bank has reported a 7.9 per cent increase in cash earnings to $983 million for the 2017 financial year, and a profit of $937m.

Healy said he had been asked to go to Australia to lead its business banking.

'These things aren't always your decision.'

He said Mentis had spent a year on the board and knew the bank well.

Healy said he was delighted with the latest result.

'It has been pleasing to see the recovery of the dairy sector which has delivered improving on-farm cash flows.'

He said the bank had continued its its focus on sustainable growth in housing, resulting in an increase of $2.3 billion in lending. Healy said a slowdown in the housing market, particularly in Auckland, was healthy.

Less lending growth over the coming year would be offset by more lending to the business and SME sectors, he said.

BNZ said its presence in the mortgage broker market continued to deliver expanded distribution reach. Nationally it has partnerships with more than 900 brokers.

Digital interactions were also increasingly important, Healy said.

'We recognise that the world of banking is changing and we've invested heavily in creating more seamless customer experiences, from our market-leading digital platforms to our new and emerging technology partnerships,' Healy said.

Last week BNZ launched Apple Pay, and in December 2016 it brought Android Pay to New Zealand.

'Our job is to reimagine banking for the 21st century and that means adopting an accelerated transformation agenda underpinned by being truly customer-centric. Customers don't want banking to dictate their lives – they want their lives to dictate banking,' Healy said.

'The shape of the bank is changing – our physical network, our digital platforms, and our products and services, are being shaped by our customers lives and how they want to interact with us. This is an accelerating shift that is guiding our investment agenda and our areas of strategic focus.

'Over time, this will also deliver productivity benefits, and allow us to continue to grow revenue and enhance shareholder returns.'

Part of that is a restructure which will result in the loss of about 100 jobs, according to the union representing banking staff.

Healy said the moves were customer-led, as they increasingly wanted to interact with banks online. He said about 90 per cent of all customer transactions were online.

'Over time there wil be less physical investment and more digital.'

Healy highlighted the bank's work in communities around the country.

He said the expansion of its Community Finance partnership had been a highlight of the year.

The scheme is available in 13 centres, offering low and no-interest loans to people who do not meet standard bank criteria. The bank has made $60m in lending available to those customers.

'I'm incredibly proud of the difference we are making in communities around New Zealand and the stand we have taken on ethical investment in our KiwiSaver funds, developing a responsible investment policy that excluded investments in companies involved in the production of cluster munitions, anti-personnel mines, nuclear weapons and tobacco or tobacco products,' Healy said.