Australia And New Zealand Banking Group

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(Redirected from Australia And New Zealand Banking Group Limited)

See also: ANZ for realtime information.

ANZ is a full service banking firm headquartered in Melbourne, Australia. The bank is listed on the Australian Stock Exchange and New Zealand Stock Exchange under the ticker ANZ. ANZ has the following divisions and specialised businesses:

Personal Division: Encompasses businesses primarily serving retail customers in Australia and the Pacific, and Australia’s leading finance company, Esanda. It comprises retail banking, regional & rural banking, consumer finance (including credit cards), mortgages, investment & insurance products and banking products.

Institutional: Provides a range of financial products and services to ANZ's business, corporate and institutional clients. The division offers institutional banking, corporate banking, business banking, corporate and structures financing, working capital finances and various services in the foreign exchange, capital and commodities market.

Private Bank: Manages the top 1% of the bank’s individual client base and provides a complete range of financial solutions from traditional banking to innovative investments and financial planning.

The bank has 1,265 worldwide points of representation and 781 branches in Australia. It serves more than six million personal, private banking, small business, corporate, institutional, and asset finance customers worldwide. The bank’s operations are located in Australia, New Zealand, Asia, the Pacific, UK/Europe and the USA, and a technology and operations centre in Bangalore, India. It employs more than 30,000 people across the world.

[edit] History

ANZ has its origin in the Bank of Australasia which was established in London under Royal charter in 1835. In 1951, the Bank of Australasia got merged with the Union Bank of Australia to form ANZ Bank. In 1970, ANZ Bank merged with the English, Scottish and Australian Bank Limited to form the present organisation, Australia and New Zealand Banking Group Limited. The bank was incorporated in Australia in 1977 (transfer from UK).

[edit] Financial performance

As of June 2006, ANZ Bank has A$335.8 billion of total assets up 11.6% from $300.9 billion in 2005. The bank’s total operating income increased 8.4% to A$10,089 million in 2006 from A$9,306 million in 2005. During the same period, the bank’s efficiency ratio (cost to income) improved 100 basis points to 45.6% from 46.6% in 2005.