Australia guarantees ANZ $1.3 billion for Pacific operations

The Australian government will provide ANZ Group with a loan guarantee of A$2 billion ($1.26 billion) to support its operations in the Pacific region. This marks a new financial commitment to enhance banking services there. ANZ will pay an annual fee for the guarantee and plans to invest an additional A$50 million in its Pacific banking business. This investment aims to improve ongoing operations and expand digital banking services. The guarantee is expected to take effect in the second half of 2025, with the government assessing the likelihood of it being called as very low.