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Business Description: ANZ Banking Group Ltd (ANZ) provides a range of banking and financial products and services to retail, small business, corporate and institutional clients. The Group conducts its operations primarily in Australia and New Zealand and the Asia Pacific region. It also operates in a number of other countries including the United Kingdom and the United States.
Strategy Analysis: ANZ’s ‘super-regional’ strategy launched by CEO Mike Smith in 2007 targets an increasing proportion of earnings from Asia, the Pacific, Europe and America (APEA) at the expense of traditional markets in Australia and New Zealand. ANZ aims to grow in APEA by i) capturing banking business associated with trade and investment flows between the various countries and ii) cross-selling fee-based services to institutional banking clients. The proportion of earnings sourced from APEA is steadily increasing from 12% in FY07. The initial target of 20% by FY12 has been upgraded to 25-30% by FY17. With this strategy, unique among Australian banks, ANZ aims to differentiate itself from peers and provide superior earnings growth. The offshore plan is intended to make up for a subdued outlook for banking growth in Australia and New Zealand. To maintain earnings growth in Australia despite contracting business credit and a bruising price war in home lending ANZ aims to increase cross-sell of wealth management. This follows the acquisition of ING’s 51% interest in the ING-branded joint venture in 2009. A revamp of the Australian banking distribution network is required to keep up with a rapidly growing and evolving banking market.
Australia & New Zealand Banking Group reported NPAT up 6% to $5.66bn for the year ended 30 September 2012. Revenues from ordinary activities were $17.71bn, up 5% from last year. The bank ANZ continued to increase the diversity of its revenue base with 21% of group revenues derived outside of Australia and NZ during 2012. Global markets revenue increased 14% to $1.9bn with customer sales income up 10% to represent 61% of total income. Diluted EPS was 205.6 cents compared to 198.8 cents last year. Net operating cash flow was $6.42bn compared to $18.8bn last year. The final dividend declared was 79 cents, taking the full year dividend to 145 cents compared with 140 cents last year.
The Age 24/05/2013 |
The door has been opened to full deregulation of electricity prices in NSW after a report found there was a high degree of competition, with more than 60 per cent of households on unregulated contracts.
The Age 24/05/2013 |
James Hardie expects no big improvement in the housing market this year but says the sector has stabilised after interest rate cuts.
The Age 24/05/2013 |
Foster's owner SABMiller reported a 5 per cent drop in sales volumes in Australia over the past year but notched up 3 per cent growth in the fourth quarter, boosted in particular by the relaunch of Victoria Bitter.
The Age 24/05/2013 |
The ASX took more than three hours to tell stockbrokers and investors a computer failure had knocked out its critical market announcements feed in October last year, according to a new investigation into the incident.
The Age 24/05/2013 |
The Australian dollar plunged to its lowest level in a year, shedding over US2¢ in a session, as traders reacted to contradictory comments from the head of the US Federal Reserve on Thursday.
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