ANZ briefs international investors in Greater China on Asian growth strategy
ANZ today hosted a briefing for more than 30 investors and equity analysts in Taipei as part of a three-day tour of its businesses in Greater China.
As part of the briefing, ANZ told investors that it had quadrupled branch numbers, tripled its ATMs and more than doubled its customer-facing staff to meet growing customer needs in Asia in the first half of a five-year growth strategy.
ANZ CEO Asia Pacific, Europe and America Alex Thursby said priorities for the next phase of growth included continued investment in ANZ’s businesses in Greater China and India.
“We have significantly built our business in Asia over the past few years, achieving enormous growth in the region, including more than trebling our customer numbers,” Mr Thursby said.
“We will continue building our capabilities for customers, including a clear priority over the next couple of years to build our businesses in Greater China and India now that we have preparatory approval for the necessary licences.”
The ANZ Asia Investor Tour 2010 will visit Taiwan, Hong Kong and China from 8 to 10 June.
The group will visit ANZ branches, dealing rooms, call centres and other facilities to give participants an opportunity to see first hand ANZ’s progress in Greater China. This includes:
- Taiwan: ANZ has grown from one branch and a small Institutional client base in 2008 to a pan-island network of 22 branches, serving around one million Retail, Wealth, Private Bank, Commercial and Institutional clients.
- China: ANZ has grown from two branches in 2008 to six outlets now open in four key cities in China, and is on track with its target to open up to 20 outlets by 2013. Preparatory regulatory approval has been received to establish a 100% owned locally incorporated bank subsidiary in China during 2010.
- Hong Kong: ANZ has grown from one branch and an Institutional and Private Bank business in 2008 to six branches with full Retail and Wealth, Private Bank, Institutional and Commercial capabilities, including debt capital markets, rates and foreign exchange. This includes operating as a hub to meet the offshore banking needs of affluent individuals and corporates.
ANZ also has two partnerships in China – the Shanghai Rural Commercial Bank (19.9% stake) and Bank of Tianjin (20% stake) – which have been identified among ANZ’s five strategic partnerships for ongoing investment. The group will visit SRCB during the visit to Shanghai as well as visiting the ANZ-sponsored Australia Pavilion at the Shanghai Expo to end the tour.
“We are completely focused on executing a simple but powerful vision to create a superregional bank with a substantial business in Asia,” Mr Thursby said.
“We will leverage the continuing growth in Asia, intra-Asia opportunities and Australia/New Zealand flows of people, investments, trade and capital.”
After significant investment in organic growth since late 2007, coupled with the acquisition of selected The Royal Bank of Scotland (RBS) businesses in the past year, ANZ has:
- Almost quadrupled its branches in Asia to 102 branches
- Doubled customer-facing staff to 2,500 customer-facing staff in Asia
- Almost tripled Automatic Teller Machines to more than 330 ATMs in key Asian markets
- More than tripled customers to almost three million customers in Asia Pacific.
ANZ has operated for more than 175 years, including more than 40 years in Asia. ANZ has operations in 32 countries across Australia, New Zealand, Asia, the Pacific, the UK, Europe, America and the Middle East with 1,346 branches and offices worldwide. At 31 May 2010 ANZ had a market capitalisation of A$57.06 billion. ANZ currently has a long-term credit rating of “AA” with Standard & Poor’s Rating Services and “Aa1” with Moody’s Investor Services Limited.