Bank of New Zealand wins Bank of the Year

BNZ won the coveted Bank of the Year Award at last night’s Institute of Finance Professionals New Zealand (INFINZ) industry awards which recognise outstanding achievements in the financial sector.

Shelly Ruha, Head of Institutional Banking for BNZ, says the win is a huge success for the bank:

“We are fortunate to have some of the most competitive and capable banks in the world operating in New Zealand. To be distinguished in such company is wonderful recognition for our team and the value we bring to our clients”, she says.

The judges were again impressed with the strength of the finalist banks and the support they have clearly demonstrated to the business and corporate sector.

The Judges said, “This year's winner stood out because of their innovative financing solutions, their preparedness to lead during large financial work out situations, their support of iwi, and demonstrable autonomy of their New Zealand operations from their parent bank.”

David McLean, Chairman of INFINZ said, “The INFINZ awards are about celebrating excellence. The bank of the year award is very keenly contested and as an industry we take it very seriously. Congratulations to the BNZ.”

In addition to the Bank of the Year win BNZ picked up the Debt Deal of the Year award for last year’s $1billion European Covered Bond.

BNZ Head of Balance Sheet Management, Mahes Hettige thanked the NZ institutional investors who keenly supported the BNZ’s pioneering inaugural NZ covered bond issue which was awarded debt deal of the year.

"While we are conscious of issuance limits for covered bonds, for us the exercise is about improving funding diversity, as well as extending the duration of our term funding hence improving balance sheet strength" says Mahes Hettige.