Australia and New Zealand Banking Group Limited , commonly called ANZ , is the third largest bank by market capitalization in Australia, after Commonwealth Bank and Westpac Banking Corporation. Operation Australia is the largest part of ANZ's business, with the dominance of commercial and retail banking. ANZ is also the largest bank in New Zealand, where the legal entity was known as ANZ National Bank Limited in 2003 and changed to ANZ Bank New Zealand Limited in 2012. From 2003 to 2012, ANZ operates two brands in New Zealand, ANZ and National Bank of New Zealand. Brand National Bank has retired in 2012, with a number of close branches and others converting to ANZ branches.
In addition to operating throughout Australia and New Zealand, ANZ also operates in 34 other countries.
ANZ was named the most globally sustainable bank in the 2008 Dow Jones Sustainability Index making it its second year in a row. ANZ has been awarded the title. In 2007, the title was shared with another Australian bank, Westpac, who had held the title for five years previously.
ANZ was established on October 1, 1951, when the Bank of Australia merged with Union Bank of Australia Limited.
ANZ is one of Australia's leading banks in the Asia-Pacific region. It has been aggressive in expanding into emerging markets of China, Vietnam and Indonesia. ANZ is also a leading bank in New Zealand as well as some Pacific Island countries where it competes in many markets with fellow Australian bank Westpac. ANZ's arm in New Zealand operated through its subsidiary, ANZ National Bank, from 2003 to 2012, when it changed to ANZ Bank New Zealand after incorporating the ANZ and National Bank brands.
In March 2005, he formed a strategic alliance with Sacombank Vietnam involving the acquisition of 10% of Sacombank's share capital. As part of the strategic alliance, ANZ will provide technical assistance in the areas of risk management and retail and small business banking.
ANZ has followed a similar strategy in China, where it acquired a 20% stake in Tianjin City Commercial Bank in July 2006. It also negotiated a deal similar to Shanghai Rural Commercial Bank.
In August 2009, ANZ purchased RBS retail units in Taiwan, Singapore, Indonesia and Hong Kong, as well as RBS'si banking business in Taiwan, the Philippines and Vietnam. It was bought for A $ 687 million.
As of September 2012, the company has a total of 1,337 branches worldwide.
In 2016, ANZ adopted a less aggressive approach to expansion in the Asia-Pacific region after low returns. At the end of October 2016, ANZ announced the sale of Asia's retail and wealth management operations to the Singapore Development Bank; ANZ also hinted at the withdrawal of its "Asian axis".
Video Australia and New Zealand Banking Group
Offporing jobs
ANZ is progressively improving the work of overseas offices. The ANZ Bangalore office has been in operation since 1989, making it one of the first organizations to hire IT staff based in India. ANZ employs approximately 4,800 staff in Bangalore, India. 1500 IT positions, 2000 positions in Payment and Institutional Operations and International and High Value Services and 1300 positions in Private Banking Operations have shifted from Melbourne to India. In 2006, ANZ estimated that in 2010, more than 2000 jobs will be diverted from Australia to Bangalore. In 2012, ANZ moved 360 permanent staff from Melbourne and Bangalore to Capgemini. All of these staff are working in Technology Testing and Environmental Space. As ANZ CIO Anne announced earlier that ANZ wants Hybrid technology model to reach the 2017 Technology roadmap.
Maps Australia and New Zealand Banking Group
Ads
In 2005, an advertisement included two well-known robots: the Lost in Space robot, and a Dalek from Doctor Who, although Dalek was replaced in the next version of the ad. In 2006, the company started a TV campaign with a series of ads featuring their new mascot - Falcon, a bird trained to stop credit card thieves, described the company's steps in preventing credit card fraud. In 2010, ANZ runs an ad campaign parodying a common banking scenario with a fictitious character known as 'Barbara living in the World Bank', a middle-aged bank manager, rude, sarcastic and unhelpful. Ads have received praise for their intelligence and humor, but also criticism for the stereotype of bank managers. Barbara is portrayed by Australian comedian Genevieve Morris. In 2010, ANZ spent $ 195 million in Australia on advertising.
In 2011, a series of ads fronted by Simon Baker, American television show star The Mentalist. According to the list of top 20 ad spending in 2014, ANZ is in the top 20.
In 2015, ANZ held a campaign in harmony with Mardi Gras Gay and Lesbian Sydney. By 2016, New Zealand ANZ has the highest bank spending. One-third of ANZ's expenditure in the media is said to be digital.
New headquarters
In September 2006, the plan was inaugurated for ANZ's new world headquarters to be located in Melbourne's Docklands area. The complex has low-rise office buildings, shops, car and bicycle parking facilities. The new complex will allow 6,500 ANZ staff to work in one integrated area, but the company will maintain its main building, 100 Queen Street Melbourne. The new headquarters is Australia's largest office complex at 84,500 mÃ,² NLA, 130,000 sqm GFA and 6 Green Star Building accredited. Construction began in late 2006 and the building opened in late 2009. The building is located at 833 Collins Street. It has been designed by HASSELL & amp; Lend Lease Design - facing the Yarra River.
In 2006, it cost A $ 478 million to build, but ended up costing $ 750 million by the time it was completed in 2009.
The building is one of the winners at the 2010 Architecture World Festival in the category of "Interior and Fit Out of the Year".
ANZ announced in 2016 that it will sell its former Melbourne headquarters. The old bank building, in front of Collins Street, in Melbourne, was built as the headquarters of England, Scotland & Australian Bank (ANZ's predecessor) from 1883-87.
Controversy
Manipulation of key interest rate and other key metrics
By 2016, ANZ and its 10 merchants are referred to as the subject of a legal process for the manipulation of interbank benchmark interest rates in Australia; especially ASIC has made unscrupulous behavior and manipulation claims against ANZ. ANZ has been trying to deny the claim and said it will defend its claims in court. The formal submission of the original process in this case was made against ANZ on March 4, 2016. Since then ASIC has complicated their claim against ANZ. In a separate court appearance in November 2016, ANZ recognized 10 examples of cartel behavior pursued in connection with alleged Malaysian ringgit manipulations. A wider case of market rigging has been reported to be likely to last until 2018.
Agriculture and child labor
ANZ has been the subject of claims that it has supported the agricultural and timber companies involved in so-called 'land grabs'. In 2014, ANZ faces allegations that it is funding Cambodian sugarcane plantations that have involved child labor, military-backed land acquisition, forced evictions and food shortages.
The Ancestor Approach
ANZ has also been criticized in the Senate for allegedly "hard boiled" for farmers affected by ANZ's purchase of important lending books. One surrender to the Senate investigation into bank behavior mentions a farmer burning himself after the alleged failure occurred. Other former customers in the Senate investigation are said to be victimized by the recipients and police, including the use of the SWAT team and are held in a semicolon. In 2016 it was reported that ANZ was accused of racism in a high profile court case involving businessman Pankaj Oswal and his wife; it is specifically reported that an email contains comments stating that, "" We are dealing with an Indian without a moral compass and an Indian woman [Mr. Oswal], equally winding with PO (Pankaj Oswal), "and" This has been a very characteristic transaction of India. "ANZ agrees to settlement for an undisclosed amount in connection with a legal claim made by Oswals.
Culture
ANZ CEO Shayne Elliott admits in 2016 that "culture" will be one of ANZ's biggest challenges. Media reports have included allegations of sexism, drug use and bravado culture. In 2016, ANZ was pursued in court for his advice in social media that criticism of the bank's chief financial officer may be sexist, resulting in a broker at Bell Potter losing his job. Former director of ANZ John Dahlsen in 2016 admits that there are problems with bank culture and competition. In November 2016, there were further claims of sexist behavior and a separate lawsuit was filed against ANZ in the United States regarding staff at his New York office.
Malaysian scandal
In early 2016, ANZ was also mentioned in a scandal in Malaysia involving one of ANZ's subsidiaries and a Malaysian leader. This incident raises questions for ANZ. ANZ admitted in November 2016 that they had little ability to control affiliates.
Note misleading files presented to Victorian Supreme Court
In 2016, there were reported incidents involving the Financial Ombudsman Service (Australia), where the Financial Ombudsman Service presents a misleading file record to the Victorian Supreme Court, in a case-finding phase involving ANZ, for the benefit of the ANZ case. ANZ has not commented on the scandal.
Out-sourcing jobs
ANZ continues to work outside sources in countries other than Australia and this has caused some controversy with some outlets.
Anti-competitive behavior
Although ANZ takes advantage of block-block technology, ANZ has blocked businesses that use bitcoins. ANZ was investigated by the Australian Competition and Consumer Commission and released from colluding with other banks on bitcoin-based business issues. A number of prominent Senators have called for an inquiry into the question and continue to criticize the behavior of ANZ and other major banks on the issue.
Panama Papers
ANZ reportedly appeared in Fonseca's 5548 Mossack document in Panama Papers, reflecting the extensive workings of banks in New Zealand, Cook Islands, Samoa and Jersey.
Symbol
See also
- The ATM Industry Association (ATMIA)
- Banking in Australia
- List of banks
- List of banks in Australia
- List of banks in Oceania
References
External links
- Official website
Source of the article : Wikipedia
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