Wellington - The New Zealand finance workers' labour union Finsec accused the ANZ National Bank Wednesday of being "a bad corporate citizen that is harming our economy" by moving 250 jobs to India.

"ANZ National can easily afford to employ a New Zealand workforce," said spokesman Andrew Campbell. "We believe the bank is placing the greedy goal of its owner ANZ Australia of doubling profits within 5 years above the interests of workers and our economy.

"It is bad corporate citizenry to profit off New Zealanders and repay us by sending good jobs to India, where they can be done 75 per cent cheaper. That is simply wrong."

Campbell said foreign-owned companies like ANZ National Bank should be using "their huge, billion-dollar-plus profits" to help New Zealand through the current recession.

"This decision can make it even worse, as it can suck wages out of the economy and send higher profits offshore," he said. (dpa)