Australian and New Zealand Banking Group (ANZ) is one of the largest banking groups in Australia and New Zealand. It is the fourth largest bank in Australia, after the Commonwealth Bank, the National Australia Bank, and Westpac Banking Corporation.
It was ranked 84 on Forbes Global 2000 2016 list and as of May 2016, it boasted of the market capitalization of $54.9 Billion and assets worth $625.8 Billion. ANZ serves more than 10 million customers in 34 countries.
It was established on 1 October 1951, when the Bank of Australia merged with the Union Bank of Australia Limited. The group is headquartered in Melbourne, Australia.
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- Products and Services
- Deals and Acquisitions
- Principal Subsidiaries
- Bank’s Websites
History of Anz Bank
The group’s history can be traced to the Bank of Australia which opened its first office in Sydney in 1935 and established a Melbourne office in 1938, where ANZ’s headquarters is located today. In 1937, the Union Bank of Australia was opened. The Bank of Australia and the Union Bank of Australia merged in 1951 to form the ANZ Bank. A year later the English, Scottish, and Australian Bank established.
In what was then the largest merger in Australian banking history, ANZ Bank merged with the English, Scottish, and Australian Bank Limited in 1970 to form the present organization – Australia and New Zealand Banking Group Limited.
Products and Services Offered by Anz Internet Banking and Offline banking
The ANZ Group provides a wide range of banking and financial services to retail, small business, corporate and commercial customers. Their products and services include financing, transactional services, investing, international services and foreign exchange, Risk management, insurance, and online security.
Deals and Acquisitions of ANZ Bank
1979 – ANZ acquired the Bank of Adelaide.
1984 – ANZ acquired Grindlays Bank.
1985 – ANZ acquired Barclays’ operations in Fiji and Vanuatu
1989 – ANZ acquired PostBank from the New Zealand Government.
1990 – ANZ acquired National Mutual Royal Bank Limited
- Acquired Lloyds’ operations in Papua New Guinea
- Acquired Bank of New Zealand’s operations in Fiji
- Acquired Town and Country Building Society in Western Australia
1991 – ANZ acquired 75 percent of Bank of Western Samoa
1999 – ANZ acquired Amerika Samoa Bank.
2001 – ANZ acquired 75% of Bank of Kiribati
2002 – ANZ acquired Bank of Hawaii operations in Fiji, Vanuatu, and Papua New Guinea.
2003 – ANZ acquired National Bank of New Zealand from Lloyds TSB
Principal Subsidiaries of Australian and New Zealand Banking Group
- ANZ Cover Insurance Pty. Ltd.;
- ANZ Executors & Trustee Company Limited;
- ANZ Funds Pty. Ltd.;
- ANZ Lenders Mortgage Insurance Pty. Limited;
- ANZ Holdings Pty. Ltd.;
- ANZ Investment Holdings Pty. Ltd.;
- ANZ Life Assurance Company Limited;
- ANZ Managed Investments Limited;
- ANZ Properties (Australia) Pty. Ltd.;
- ANZ Securities (Holdings) Limited;
- Australia and New Zealand Banking Group (PNG) Limited (Papua New Guinea);
- Esanda Finance Corporation Limited;
- ANZ Capel Court Limited;
- PT ANZ Panin Bank (Indonesia; 85%);
- US Distribution Trust I;
- US Distribution Trust II;
- Alliance Holdings Limited;
- NMRSB Pty. Ltd.
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