New Chair for the New Zealand Bankers' Association

New Chair for the New Zealand Bankers' Association

The New Zealand Bankers’ Association (NZBA) has elected Mr Charles Pink as its Chairman for 2010/11.

Mr Pink is Chief Executive of ASB Bank Limited.

The new Deputy Chairman of the NZBA is Mr Andrew Thorburn Managing Director and CEO of the Bank of New Zealand.

Mr Pink said the New Zealand Bankers’ Association had an important role in supporting the banking sector through the economic recovery.

“New Zealand banks have weathered the economic storm and emerged in a position of strength compared to many major banks overseas,” Mr Pink said. “However the hard work is not over yet. Now is the time for our industry to plan for the future to ensure the New Zealand banking industry remains stable and successful in the decades to come.”

The NZBA, established in 1891, is a non-profit unincorporated Association funded by member banks through subscriptions. Membership of the NZBA is open to any bank registered under the Reserve Bank of New Zealand Act 1989. Currently nine registered banks are members of the NZBA.

The governing body of the NZBA is the Council, comprising the Chief Executive of each member bank.

What does the New Zealand Bankers’ Association do?

The NZBA provides services to members which may be most effectively undertaken on an industry basis.

These services include:-

• Development of the self-regulatory Code of Banking Practice.

• Development of co-operative inter-bank procedures and standards for retail payment methods such as direct debits and automatic payments.

• Collective submissions on public policy and regulation which affect banks, in relation to, for example, taxation, consumer credit, privacy, terrorism and money laundering.

Provision of payment statistics from data supplied by members.

ENDS

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