ANZ denies it is offshoring 500 jobs to India

In a statement to the media, the bank said it "did not announce" job losses in Australia, but also didn't rule out the creation of new jobs in the Bangalore facility.

"While ANZ is continuing to look at opportunities for developing its Bangalore facility to create efficiencies in its business in Australia, New Zealand and Asia Pacific... its growth has not meant fewer jobs in Australia," the bank said.

The bank said it will "manage" its growth in Bangalore "responsibly."

"This includes creating new jobs through business growth and emphasising redeployment and retraining to assist any staff impacted to obtain other roles in the Bank," the company said.

ANZ chief executive Brian Hartzer said "the difficult reality for all businesses is that there will be change to adapt to the current economic climate.

"ANZ is committed to being transparent about change programs and to making any changes responsibly and with care to ensure the impact on staff is minimised."