ANZ Bank Gets Even Greedier, Axing NZ Jobs and Outsourcing Them to Other Countries With Cheap Labour Forces

ANZ Bank has been making obscene RECORD profits for the last five years. According to Bloomberg.com:

"ANZ’s cash profit rose to a record for a fifth year to A$6.5 billion in the 12 months ended Sept. 30 (2013) from A$5.8 billion a year earlier while net income in the year rose 11 percent to A$6.3 billion from A$5.7 billion." Bloomberg.com

This year, "ANZ made a record $853 million profit after tax in the six months to March 31, up by almost a third from the previous corresponding period." Stuff

Despite record multi-billion dollar profits being funneled out of this country by them, the bank needs to extract just those few extra dollars by axing jobs and sending them to India. They did however shut down a Melbourne call centre and are said to have moved a few hundred jobs over to New Zealand, no doubt mainly because our wages here are substantially lower than in Australia. Stuff

It goes to show that greed "knows no bounds" when it comes to banks.. Even billions and billions of dollars is not enough. Do not forget how they make this money either, fractional reserve banking or creating money out of thin air, loaning it to uninformed victims who spend their lifes labour paying the banks back the loan with huge interest when it was money that never actually existed in the first place.