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| Monday, 3 August 2009, 12:45 HKT/SGT | |
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Source: ANZ | |
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Sydney, Aus, Aug 3, 2009 - (ACN Newswire) - ANZ Bank is one of the top 4 leading banks in Australia. With operation across Australia, New Zealand and 26 key markets in the Asia Pacific Region, they serve more than six million customers worldwide, providing a range of banking and financial products and services to retail, small business, corporate and institutional customers. The bank acknowledges the importance of the Asia market and is actively seeking to expand their presence in the region.
 | | ANZ Bank (ASX:ANZ) Operations in Asia Pacific |
Speaking with Eugene Yao from ACN Newswire, a spokeswoman from ANZ Bank offered information about the bank's business development in the Asia Market. (This article is also archived in the series "Interview with Eugene Yao", ANZ Bank Business development in Asia)
1. What are some of ANZ's long term goals for Business Development in Asia?
ANZ's long-term aspiration is to become a super regional bank focused on Australia, New Zealand and Asia Pacific. This involves pursuing growth opportunities in the Asia Pacific region, expanding the bank's presence in Australia and maintaining its leading position in New Zealand. ANZ aims to increase its presence in the Asia Pacific region to around 20% of earnings by 2012, similar to the level generated from the group operation in the New Zealand market.
2. There has been quite a bit of speculation on the ANZ's bid on some of the RBS's assets in Asia, what can you tell us about that?
Consistent with its growth strategy, ANZ is one of a number of parties participating in a competitive sale process being conducted by Royal Bank of Scotland Group plc (RBS Group) in relation to certain businesses in Asia. As part of that process, ANZ has submitted a non-binding proposal to RBS Group for selected businesses.
In a recent statement ANZ said the scope, terms (including regulatory approvals), timetable and risk profile of any transaction - and whether a transaction will occur - remained unknown.
However, if such an acquisition were to proceed, ANZ's Tier 1 capital ratio would immediately increase above its target range of 7.5% to 8.0%. In fact, following the recent successful share purchase plan, ANZ's Tier 1 capital ratio has risen to 9.8%.
ANZ applies a disciplined approach in assessing new investment opportunities. In a recent statement the bank said "an acquisition of the selected RBS Asia assets would initially have a modest negative impact on reported earnings per share but over the medium term the impact would be expected to be positive."
Consistent with ANZ's super regional strategy, the aim for the acquisition would be to provide a base for substantial value creation. Actual future outcomes would be dependent on (among other things) ANZ successfully integrating the acquired businesses with its existing business and implementing its plans for the acquired businesses.
3. What can you tell us about ANZ business development in the Asian market in Australia?
ANZ has several initiatives in place to assist people who migrate to Australia. The bank assists people to set up a transaction account and a savings account in Australia, even before they arrive.
ANZ has five such offices (in addition, of course, to the bank's NZ branch network which also assists people from NZ who move to Australia). There's three in China (in Beijing, Shanghai and Guangzhou) one in Mumbai, India and one in London. This service supports customers before they arrive in the country.
ANZ has also recently expanded its network of specialist branches, which cater specifically for Chinese customers. There are now 14 identified branches staffed with at least one Asian Banking manager. There are six such branches in Sydney, four in Melbourne, two in Brisbane and one each in Adelaide and Perth.
At these branches at least one staff member (or more) will be able to speak at least Mandarin, and in many cases Cantonese. ANZ aims to link each person who has set up an account prior to moving to Australia from China with one of our specialist Asian Banking Managers.
ANZ recognizes there are many customers who have migrated from China to Australia, who continue to operate businesses in China. That's why our Asian Banking Managers also have strong relationships with ANZ China and can relate to our customers by actively working in the Chinese community.
For Further information please visit: http://www.anz.com.au
Topic: Corporate Announcement
Source: ANZ
Sectors: Daily Finance
https://www.acnnewswire.com
From the Asia Corporate News Network
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