ANZ committed to improving financial literacy

ANZ’s financial literacy program has continued to grow its reach across the Asia-Pacific region, with a record number of participants learning how to better manage their money in the 12 months to September 2015.

The major bank’s annual impact report on MoneyMinded found that an estimated 56,656 people have participated in the program either online or face-to-face over the 12-month period.

Of the total participants, 68.4 per cent were female, 30.6 per cent were unemployed, 26 per cent were students and 29.4 per cent spoke a language other than English at home.

The report also highlighted the success of ANZ’s new course for SMEs in the Pacific, MoneyMinded Business Basics.

According to the report, 52 per cent of participants were more likely to make a profit following completion of the course, compared to 36 per cent before commencing the program.

Furthermore, 100 per cent of participants had a long-term financial goal upon completion of the course, compared to 52 per cent before commencing the program.

ANZ chief executive Shayne Elliott said the MoneyMinded Business Basics course recognises the link between the success of small businesses and the welfare and growth prospects of communities.

“We will continue to invest in improving the financial literacy of communities in which we operate,” Mr Elliott said. “In 2016, we are aiming to reach a further 60,000 people for MoneyMinded and an extra 600 people across the Pacific with the Business Basics course.”

[Related: ANZ supports start-ups with new platform]

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