ANZ Bank

 

 

The Australia and New Zealand Banking Group Limited, commonly known as ANZ Bank, is the fourth largest bank in Australia and the largest in New Zealand. ANZ was named the most sustainable bank globally for the second consecutive year in the 2008 Dow Jones Sustainability Index.[br]  

ANZ Bank: History

The origin of ANZ can be traced back to the Bank of Australasia, which opened its first office in Sydney in 1835. The bank’s Melbourne office, established in 1838, became ANZ’s world headquarters. Incorporated on July 14, 1977 in Australia, the bank continued to expand its product line and regional reach through several mergers, acquisitions and joint ventures. Some of the distinctive acquisitions made by ANZ Bank are:

• Bank of Adelaide

• Grindlays Bank

• Amerika Samoa Bank

• National Bank of New Zealand

• Bank of Hawaii operations in Fiji, Vanuatu and Papua New Guinea

 

The bank launched its www.anz.com site in 1996 and in the next year inaugurated ANZ Phone Banking. ANZ formed a strategic alliance with E*Trade Australia for online share trading service in 1999 and in the same year started offering the Internet Banking service for its customers.

 

ANZ Bank achieved its one millionth customer for ANZ Internet Banking in Australia in 2002. ANZ Bank was named Bank of the Year for a record fifth year in a row by the Personal Investor magazine in 2004. As of 2009, the bank operates in more than 30 countries across Australasia, the Pacific, Europe, Dubai, the US and Asia.[br] 

ANZ Bank: Services

ANZ has most of its operations in Australia, with commercial and retail banking accounting for most of the business in the country.

 

• Retail Distribution: This segment manages the extensive network of bank branches and specialist sales staff that services retail customers.

• Retail Products: This unit is responsible for delivering a range of products including credit cards, mortgages, transaction banking, personal loans and savings and deposits.

• Commercial Banking: This unit of the bank delivers customer solutions through dedicated managers focusing on the Business Banking, Small Business and Commercial/Agri segments.

• Wealth: Through this unit, the bank offers three substantive businesses, Investment and Insurance, Private Banking and ING Australia. These segments cater to the financial requirements of high net worth individuals (HNIs).