Around 40 roles currently based in ANZ's hub on Tory St appear set to be transferred to Manila.

ANZ is planning to transfer around 40 jobs from its Wellington office to the Philippines.

Staff from the collections team, call centre staff who deal largely with Australian customers, were told earlier this month that the bank was proposing to transfer the work to Manila.

In a statement, the bank said a team in Wellington was being "disbanded".

"A team of 39 in Wellington that has provided support for the ANZ Australia collections function for almost five years, will be disbanded," a spokesman said, adding that "some" of the affected staff would be offered jobs elsewhere with the bank.

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"We're hopeful that most of the roles will be absorbed into our NZ operations and contact centre functions in Wellington."

Back in October, ANZ, by some margin New Zealand's largest bank, reported a 20 per cent increase in profits, which chief executive David Hisco was driven by lending growth and "strong cost management".

At $1.86 billion it was the largest profit ever recorded by a New Zealand bank.

Stephen Parry, First Union's national organiser for the finance sector, said there was no need for ANZ to go through with the proposal other than greed.

"Customers get world-class service from the collections team at the Tory Street call centre. The team are skilled, they're experienced, and they're local," Parry said.

"Sending their workload off to Manila means redundancies will happen. That'll be a loss for workers and their families, a loss for Wellington and a loss for ANZ customers who'll see services downgraded.

"It's simple greed to seek further profits at the expense of New Zealand workers and customers."

Parry said the union was also concerned about the welfare of the Filipino workers who would be hired if the proposal went ahead.

"Pay and conditions for workers in the so-called "Business Process Outsourcing" sector in the Philippines are typically poor, and workers' ability to organise for a better deal are repressed."

ANZ said it had around 3000 staff in Wellington.