ANZ New Zealand class action decision

News Release

For Release: 5 May 2026

ANZ New Zealand class action decision

On 4 May 2026, the High Court of New Zealand awarded summary judgment against ANZ Bank New
Zealand Limited (ANZ NZ) in relation to the New Zealand Credit Contracts and Consumer Finance Act 2003
(CCCFA) class action proceedings served on ANZ NZ in September 2021.
The High Court found that ANZ NZ breached section 22 of the CCCFA. The Court held that the
representative plaintiffs are entitled to payment of the costs of borrowing for the period of breach, being
NZD$32,728.42.
ANZ NZ is considering how this judgment may apply to other members of the class. ANZ NZ’s estimate of
its maximum potential liability for costs of borrowing arising from this decision is approximately NZD$125
million.
ANZ NZ is considering the judgment and next steps, including appeal.



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Briar McCormack
Head of External Communications and Content
Tel: +64 21 280 1173

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