Australia and New Zealand Banking Group

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Australia and New Zealand Banking Group Limited
Type Public (ASX:ANZ)
Founded 1835
Headquarters Flag of Australia Melbourne, Australia
Key people
Industry Financial services
Products Banking, financial and related services
Revenue ▲$10 billion AUD
Profit ▲$3.7 billion AUD
Employees 32,256 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 third largest bank in Australia, after the National Australia Bank and the Commonwealth Bank. 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 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]

Contents

[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

An ANZ newspaper ad from 1957.
An ANZ newspaper ad from 1957.
  • 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:
    • In what was then the largest merger in Australian banking history, ANZ merged with the English, Scottish and Australian Bank Limited to form the present organization, Australia and New Zealand Banking Group Limited
    • Starts operations in Vanuatu
  • 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

[edit] 1990s

ANZ World Headquarters. Designed by Peddle Thorp Architects, the building is affectionately known as Gothic Tower due to its architecture. Queen Street, Melbourne.
ANZ World Headquarters. Designed by Peddle Thorp Architects, the building is affectionately known as Gothic Tower due to its architecture. Queen Street, Melbourne.
  • 1991:
    • Acquires 75 per cent of Bank of Western Samoa
    • Opens representative office in the Philippines
  • 1996:
    • www.anz.com launched
    • ANZ opens its second Vietnamese branch at Ho Chi Minh City

[edit] 2000s

[edit] Organizational structure

Personal Banking

Institutional Banking

New Zealand division

Other Business units

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 bank in the Asia-Pacific region. It has been aggressive in its expansion into the emerging markets of China, Vietnam, and Indonesia.

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 is also expected to complete a similar deal with Shanghai Rural Commercial Bank by December 2006.

[edit] Offshoring

Like other major Australian banks, 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[5]. 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. ANZ predicts that by 2008, over 2000 jobs will have been shifted from Australia to Bangalore.[6]

[edit] Community involvement

ANZ is involved in Community Services such as conducting financial literacy to minor and adult citizens of Australia.

The organization 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 phishing. This campaign according to the review by Sydney's A Current Affair program was mentioned as one of the most popular new ads of the year.

[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, fronting the Yarra River after the extension of Collins Street to meet Bourke Street is completed. It has been designed to achieve a six-star energy rating through the use of solar power, recycled water and energy efficient heating amongst other initiatives.

[edit] Notes and references

  1. ^ a b From consolidated results at [1]
  2. ^ About ANZ
  3. ^ http://www.anz.com/australia/support/library/mr/mr20070516.pdf
  4. ^ ANZ Chairman announces successor to CEO
  5. ^ ANZ - KEEP OUR JOBS HERE! - Finance Sector Union
  6. ^ Spotlight on the ANZ Bank

[edit] External links

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