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Labor issues challenge to ANZ.

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Stephen Conroy - Labor Issues Challenge To ANZ Friday, 26 October 2001

ALP News Statements

Labor Issues Challenge To ANZ Stephen Conroy - Shadow Minister for Financial Services and Regulation

Media Statement - 25 October 2001

ANZ's record profit of $1.87 billion, an increase of 18% on their continuing operations, shows that banks are putting greed ahead of looking after Australian families who are already struggling to get by.

Bank profits have come at the expense of consumers who have suffered from reduced services and increased bank fees.

The fact that the ANZ has been able to increase its profits from credit cards by a massive 48% shows that they are prepared to plunder Australians already struggling with credit card debt.

The ANZ's increased profit from credit cards is incredible when you consider that the bank only increased its profit from its corporate customers by 12%.

I today challenge the ANZ to deliver a better deal to Australian families rather than the big end of town.

ANZ should make a commitment to:

Giving their credit card customers a better deal; ● Ensuring that there are adequate numbers of staff to provide better customer service; ● Return services to those customers from where they have been removed; and ● Offer a 'no frills' bank account to all their customers. ●

I challenge the ANZ to publicly commit to sign a Social Charter of Community Obligations with a Labor Government.

Labor is about ensuring that banks look after their customers. John Howard is about looking after the big end of town.

Authorised by Geoff Walsh, 19 National Circuit, Barton ACT 2600.