Australia and New Zealand Banking Group
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| Type | Public (ASX: ANZ) |
|---|---|
| Founded | 1835 |
| Headquarters |  Melbourne, Australia |
| Key people | |
| Industry | Financial services |
| Products | Banking, financial and related services |
| Revenue | ▲$10 billion AUD |
| Profit | ▲$3.7 billion AUD |
| Employees | 37,046 full time equivalent [1] |
| Website | www.anz.com |
The Australia and New Zealand Banking Group Limited (ASX: ANZ, NZX: ANZ), commonly called ANZ, is the fourth largest bank in Australia, after the Commonwealth Bank, the National Australia Bank, and Westpac Banking Corporation. Australian operations make up the largest part of ANZ's business, with commercial and retail banking dominating. ANZ is also the largest bank in New Zealand, where the legal entity became known as ANZ National Bank Limited in 2004 and where it operates two brands, ANZ and the National Bank of New Zealand.
In addition to operations throughout Australia and New Zealand, ANZ also extends to twenty-five other nations. It is one of the leading banks in the South Pacific and in Asia. [2]
ANZ was named the most sustainable bank globally in the 2008 Dow Jones Sustainability Index making it the 2nd year in a row ANZ has been granted the title. In 2007 the title was shared with another Australian bank, Westpac, who had held the title for the previous five years. [3]
ANZ posted a net profit of A$3.69 billion for the year ended September 30, 2006. ANZ recorded revenue growth of 8.4 per cent in the year ended September 30, with group operating revenue of A$10.15 billion and assets of $335 billion. [1]
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[edit] History
[edit] 1800s
- 1835: ANZ began in London when The Bank of Australasia was established under Royal Charter
- 1837: The Union Bank of Australia was established. This was an Anglo-Australian bank
- 1852: The English, Scottish and Australian Bank (ES&A) was established in 1852. This was an Anglo-Australian bank
[edit] 1950-60s
- 1951: The Bank of Australasia merges with the Union Bank of Australia to form ANZ Bank
- 1966: Starts operations in Honiara, Solomon Islands
- 1968: Opens office in New York, USA
- 1969: Establishes representative office in Tokyo, Japan
[edit] 1970s
- 1970:
- 1971: Opens representative office in Malaysia
- 1976: ANZ (PNG) established
- 1977: ANZ incorporated in Australia (transfer from UK)
- 1979: Acquires the Bank of Adelaide
[edit] 1980s
- 1980: Singapore and New York representative offices upgraded to branch status
- 1984: Purchases Grindlays Bank
- 1985:
- 1988:
- Opens branch in Rarotonga, Cook Islands
- Opens branch office in Paris, France
- 1989: Purchases PostBank from New Zealand Government
[edit] 1990s
- 1990:
- Acquires National Mutual Royal Bank Limited
- Acquires Lloyds’ operations in Papua New Guinea
- Acquires Bank of New Zealand’s operations in Fiji
- Acquires Town and Country Building Society in Western Australia
- 1991:
- Acquires 75 per cent of Bank of Western Samoa
- Opens representative office in the Philippines
- 1993:
- New world headquarters built in Melbourne, Australia
- Joint venture established with PT Panin Bank, Indonesia
- Opens a branch in Hanoi and a representative office in Ho Chi Minh City, Vietnam
- Opens a branch in Shanghai and a representative office in Guangzhou, China
- Starts operations in Tonga
- Sold Canadian operations to HSBC Bank Canada
- 1995:
- Opens a commercial banking branch in Manila, Philippines, the first Australian and New Zealand bank to do so
- 1996:
- www.anz.com launched
- ANZ opens its second Vietnamese branch at Ho Chi Minh City
- 1997:
- John McFarlane appointed Chief Executive Officer
- ANZ Phone Banking launched
- Official opening of Beijing branch, China
- Bank of Western Samoa changes its name to ANZ Bank (Samoa)
- 1998: Acquires stake in PT Panin Bank, Indonesia
- 1999:
- ANZ Internet Banking launched
- ANZ announces strategic alliance with E*Trade Australia for online share trading service
- Purchases Amerika Samoa Bank
[edit] 2000s
- 2000:
- ANZ sells its Grindlays businesses in the Middle East and South Asia, and associated Grindlays Private Banking business, to Standard Chartered
- Granted local currency (Renminbi) licence from the People’s Bank of China
- 2001:
- Acquires 75 per cent of Bank of Kiribati
- ANZ Timor Leste opens
- Establishes cards business in Hong Kong
- 2002:
- Forms joint venture with ING Group for funds management and life insurance business in Australia and New Zealand
- One millionth customer registers for ANZ Internet Banking in Australia
- 2003: Acquires National Bank of New Zealand
- 2005: Establishes ANZ Royal Bank in Cambodia, a joint venture with the Cambodian-based Royal Group company
- 2006: New world headquarters announced for Melbourne Docklands near the headquarters of the National Australia Bank
- 2007:
- ANZ wins Money Magazine "Bank of the Year" award again after having been ousted by the National Australia Bank in 2006
- ANZ acquires E*Trade Australia[4]
- Mike Smith, formerly of HSBC, assumes the role of CEO with the retirement of John McFarlane on 1 October 2007[5]
- ANZ acquires Citizen Securities Bank (Guam)
- ANZ takes over from telecommunications company Telstra as naming rights sponsor for Sydney's Stadium Australia. This change took effect on January 1, 2008 but it is highly doubtful that ANZ would take over from Melbourne's Docklands Stadium.
- 2009:
- Signed an agreement to acquire Royal Bank of Scotland's Asian operations. The deal includes RBS's retail, wealth and commercial businesses in Indonesia, Taiwan, Singapore and Hong Kong, and its institutional banking businesses in Taiwan, the Philippines and Vietnam.
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- September 25th 2009 Annouced it will buy out ING Group's 51% stake of the JV, ING Australia giving ANZ 100% control of ING Australia. This will position ANZ as Australia's no. 3 insurer - Merger is subject to regulatory approval.
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- Decemebr 1st 2009 ANZ officially gain full ownership of ING Australia.
[edit] Organisational structure
Personal Banking
- Retail Banking
- Regional & Rural Banking
- Banking Products
- Mortgages
- Consumer Finance
- Investment & Insurance Products
- Small Business
- Pacific
- Esanda Finance Corporation Ltd
Institutional Banking
- Institutional Banking
- Corporate Finance
- Markets
- Working Capital
- Corporate Banking
- Business Banking
- Asia
- Economics@ANZ
- Operations & Shared Services
New Zealand division
- ANZ National Bank
- The National Bank of New Zealand
- UDC Finance
- Eftpos New Zealand
- Bonus Bonds
- Direct Broking - Share trading
Other Business units
- International Partnerships
- ING Australia
- Private Bank
Shared Services
- Technology
- Payments
- Shared Services
- Operational & Technology Risk
- Property
- OTSS India
Corporate Centre
- Group Financial Management
- Internal Audit
- Corporate Communications
- Group Corporate Affairs
- People Capital and Breakout
- Risk Management
- Group Strategic Development
[edit] Asia-Pacific
ANZ is one of the leading Australian banks in the Asia-Pacific region. It has been aggressive in its expansion into the emerging markets of China, Vietnam, and Indonesia. ANZ is also a leading bank in New Zealand as well as several Pacific Island Nation were it competes in many markets with fellow Australian bank, Westpac. ANZ's arm in New Zealand is operated through a subsidiary company ANZ National Bank.
In March 2005, it formed a strategic alliance with Vietnam's Sacombank involving an acquisition of 10% of Sacombank’s share capital. As part of the strategic alliance, ANZ will provide technical assistance in the areas of risk management and retail and small business banking.
ANZ has followed a similar strategy in China, where it acquired a 20% share in Tianjin City Commercial Bank in July 2006. It also negotiated a similar deal with Shanghai Rural Commercial Bank.
In August, ANZ purchased RBS's retail units in Taiwan Singapore, Indonesia and Hong Kong, as well as RBS's institutional banking businesses in Taiwan, the Philippines and Vietnam. It was purchased for the price of $A687 million. It is also rumoured that ANZ may bid for RBS's assets in China as take over talks with Standard Chartered fell through earlier this year [6].
In 2008 ANZ was awarded Deal of the Year - Project Finance Deal of the Year at the 2008 ALB Hong Kong Law Awards[7].
[edit] Offshoring
ANZ have been progressively shifting jobs to India. ANZ's Bangalore office has been operational since 1989, making it one of the first organisations to employ IT staff based in India. ANZ employs around 1,800 staff in Bangalore, India[8]. 1100 IT positions, 150 positions in Payments and Institutional Operations and International and High Value Services and 150 positions in Operations Personal Banking have been shifted from Melbourne to India. In 2006, ANZ predicted that by 2008, over 2000 jobs would have been shifted from Australia to Bangalore.[9]
[edit] Community involvement
ANZ is involved in Community Services such as conducting financial literacy to minor and adult citizens of Australia.
The organisation also participates in the Australian Government's Greenhouse Challenge and the Carbon Disclosure Project which aims to greatly trim down environmental perils in the long run.
[edit] Advertising
In 2005 an advertisement included two famous robots: Lost in Space robot, and a Dalek from Doctor Who In 2006 the company started a TV campaign with a series of medium-sell ads featuring their new mascot - the Falcon, a bird trained to stop credit card thieves, illustrating the company's measures in prevention of Credit card fraud.
[edit] New Headquarters
In September 2006, plans were unveiled for ANZ's new world headquarters to be located in Melbourne's Docklands precinct. The complex will feature a vast low rise office building, shops, car and bicycle parking facilities and a childcare centre. The new complex will enable 5500 ANZ staff to work in one integrated area, however the company will maintain its flagship building, 100 Queen Street Melbourne. The new headquarters will be the largest office complex in Australia. Construction commenced in late 2006 with completion expected in 2009. The building will rise at 833 Collins Street. It has been designed by Hassel & Lend Lease Design - fronting the Yarra River after the extension of Collins Street to meet Bourke Street is completed.
[edit] References
- ^ a b From consolidated results at [1]
- ^ About ANZ
- ^ http://www.investordaily.com.au/cps/rde/xchg/id/style/4951.htm?rdeCOQ=SID-3F579BCE-FAF630CF
- ^ http://www.anz.com/australia/support/library/mr/mr20070516.pdf
- ^ ANZ Chairman announces successor to CEO
- ^ http://www.ibtimes.com.au/articles/20090618/anz-not-interested-in-rbs-china-assets-without-banking-licenses.htm
- ^ www.legalbusinessonline.com.au
- ^ ANZ - KEEP OUR JOBS HERE! - Finance Sector Union
- ^ Financial Services Union of Australia, 2006. Bank Check, Spotlight on the ANZ Bank, retrieved 8 December 2009.
[edit] External links
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