ANZ Bank

  • Category:
    Management
  • Document type:
    Essay
  • Level:
    Undergraduate
  • Page:
    1
  • Words:
    564

ANZ Bank 3

ANZ Bank is the fourth largest bank in Austria in terms of market utilization. It came into the limelight in the year 2003 from which it has kept on growing to create a strong brand in the market. According to some researchers, it has been named to be one of those banks that are most sustainable in the world as ranked by world sustainability index. It also has its business running in the New Zealand where it also performs exceptionally due to its good model in terms of doing business. However, regardless of the operations in New Zealand, the business in Austria forms the largest portion of its business. The bank was started in the year 1951 which was after the Bank of Austria was merged with the Union Bank of Australia Limited. Its headquarters are found at Melbourne’s Docklands precinct, where most of its activities are controlled.

The business which ANZ carries out is in the banking sector where it has competitors from the other three top banks which include; Commonwealth Bank, Westpac Banking Corporation, and National Australia Bank. However, there are other small banks that provide competition. Apart from banks, there are other institutions that provide services that are similar to those of the banking sector, and they are considered to be competitors in the banking industry. In the banking business, ANZ carries out various financial services that cut out over a wide perspective. It has tried to increase its services across different sectors which enable it to expand its business to different areas of the religion.

According to analysists, the earnings of ANZ put it to be at the fourth largest bank. Its earnings are attributed to its aggressiveness in its marketing strategy which makes it easy for customers to understand the kind of products that they are offering and how best they fit them. In addition to this, the bank has been able to effectively deal with ant negative publicity that has come out by explaining the information and clearing itself regarding matters. ANZ also has penetrated areas like agriculture from which the bank makes a lot of earnings due to the potential in this industry. Another factor that makes the bank perform well is the factor that it has tried to cut across all sectors of the economy enabling it to withstand turbulent economic times as not all sectors of the economy can be affected at a go.

ANZ being a reputable bank, it has a well-developed mortgage section which attracts most of its customers. Mortgage to a large extent accounts for the revenues of the bank due to the fact that they are being developed. Considering the provision of services, ANZ makes sure that its services are superior compared to the rest of competitors something that enables to penetrate the market effectively. The branding of the bank is also important this has even made the bank to hire some international experts that are meant to ensure that the bank maintains a superior brand in the market. Financial management is key in this institutions so as to ensure that activities are done without disruption.

References

Financial Review, (2016). «ANZ’s Shayne Elliott talks about shrinking the empire,» pg. 1-2.

Financial Services Union of Australia, (2006). Bank Check, Spotlight on the ANZ Bank, pg. 2-3.

The Rakyat Post, (2016). ANZ pulling back from Asia expansion, pg. 1-3.