ANZ

Australia and New Zealand Banking Group (ANZ)

Mon, 04/08/2008 - 10:33

Stock Code

ANZ

Stock Exchange

Australian Securities Exchange

Australia and New Zealand Banking Group (ANZ) is actively involved in providing a range of banking and financial products and services to retail, small business, corporate and institutional clients. ANZ listed on the ASX on 30 September, 1969. The Company operates mainly in Australia and New Zealand. ANZ has its business operations also across the Asia Pacific regions, and in various other countries, including the United Kingdom and the United States. ANZ head office is based in Melbourne, where it first opened an office as the Bank of Australasia in the 1830s.

E*Trade vs. CommSec Price War


ANZ owned E*Trade Australia is set to start a price war with online stockbroker CommSec on fees and commissions regarding international trades. E*Trade is planning to open up retail trader and investor access to several overseas stockmarkets from New York to Singapore. The company's profit in the year to September 2009 after tax was $31 million.

Strong Expansion Strategy to Boost ANZ Growth


The global banking and financial service provider Australia and New Zealand Banking Group (ANZ) is expected to lead the road of expansion in the industry during the economic recovery and offers the highest return through its Asian expansion strategy supported by a strong capital position.

ANZ to go for Asia Pacific Assets


One of the major Australia based financial institution Australia and New Zealand Banking Group (ANZ) is currently crunching the numbers of AXA Asia Pacific operations in Australia and New Zealand. Mike Smith, the chief executive of the bank is facing a massive challenge to rebrand his ING wealth business along with dealing with the big expenditure in the technology sector in an attempt to improve back office system and platforms for investment.

ANZ to Gain Full Ownership over ING Join Venture


Banking and financial service provider Australia and News Zealand Bank ANZ (ANZ) is about to obtain the other half of its life insurance and wealth management join venture with ING which the bank is buying for $1.9 billion. The news spread after ANZ submitted a request for trading half and before a statement was released by the bank to the securities exchange.

Targett Speaks about ANZ Failures


After leaving ANZ Banking Group (ANZ) in June 2007, for the first time Steve Targett, the former institutional banking chief has spoken claiming that the bank could have saved around $200 million worth of settlement costs and innumerable damage that struck its reputation only if it went for an internal recommendation during 2007 that insisted that instead of ramping Opes Prime Business, the bank should exit from it. According to Mr.

ANZ Bank Likely to Buy RBS Assets


Although RBS group’s businesses in Asia made a loss last year, ANZ Banking Group (ANZ) is expected to move forward with its plans to buy Royal Bank of Scotland’s assets in this region. The half year result of RBS corresponds with the ANZ Bank’s regional plans as far as the purchase of operations in Taiwan, Indonesia, Hong Kong, Singapore, The Philippines and Vietnam are concerned.

ANZ Earnings Gets Downgraded


The estimated earnings of the Australia and New Zealand Banking Group (ANZ) was downgraded by the market analysts after the company declared that Joyce Phillips, the former banker of Citigroup is about to join the ANZ management board in the post of group managing director for innovation, marketing, acquisition and merger. It is believed that the downgrade was also motivated by the company’s recent move to raise $2.2 billion for its war chest.

Australian Banking Sector News Update


The Australian Banks underperformed the market by 0.7%.The Macquarie Research Equities (MRE) highlights about the Australian Banking Sector Impacts.

Which Banks to Support?

The Australian Banks underperformed the market by 0.7% last week, yet still trade well below their November 2007 highs. Macquarie Research Equities (MRE) highlight their sector picks as WBC and CBA given stronger balance sheets, low risk loan portfolio’s and lower exposure to offshore earnings. MRE assess the week in passing and reaffirm their sector guidance…

Australian Banking Sector Preview


Australian Banking Sector reporting season preview from Australian market analyst UBS.

Start scooping up banks. Mild overweight.

Recent price falls provide a buying opportunity:

The Aussie banks have seen a sharp pull back in recent weeks following their global peers. We believe that this has been driven by: (1) concerns for the health of the US investment banks into their reporting season; and (2) overhang from the current global bank rights issues. As a result the Australian banks have now underperformed the All Resources by 46% over the last year.

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