ANZ regional strategy centres on four core aspects of focus
Sanjoy Sen, ANZ head of consumer banking for the Asia Pacific region discusses the strategy that underpins ANZ’s retail franchise. April 05, 2013 | Foo Boon PingConnecting customers to its home markets in Australia and New Zealand is a key pillar of ANZ’s super regional strategy for its retail banking business in the Asia Pacific region, says the bank’s newly appointed head of consumer banking for the region, Sanjoy Sen. In an interview with The Asian Banker, Sen shared four aspects of the strategy that underpin ANZ’s retail franchise in the region. ANZ is positioning itself as the bank of choice for customers heading to Australia and New Zealand from Asia Pacific. The bank’s branches provide specialised services to international customers, targeting, for example, Asian students going to Australia or Chinese citizens looking to acquire property in Australia. Another core part of its strategy is to focus on building a strong niche among the affluent and emerging segments. The bank aims to develop a full product suite, from credit cards, unsecured loans, mortgages and auto loans on the lending side to transaction banking savings deposits and current account, as well as a full suite of wealth management, investment and insurance products. Sen believes that with the current focus on liquidity, a key priority is to build customer deposits. In 2012, ANZ grew its deposit base by 17%. It acquired Asian assets from the Royal Bank of Scotland in Taiwan, Singapore, Indonesia, Hong Kong, the Philippines and Vietnam, giving it 54 additional branches, $4.1 billion in loans and $9.2 billion in deposits from a base of approximately two million clients. The bank also purchased 51% of its remaining stake in the wealth management joint venture with ING in Australia and New Zealand for $1.8 billion. Elsewhere in the region, it is continuing to expand the footprint of its franchise through a combination of partnership and organic growth. It took the local incorporation route in a couple of markets; namely China and Vietnam. It continues to expand its branch network in Indonesia, the Ph... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Channels, Core Banking, Customer Centricity, Deposits and Liabilities, Retail Banking, Technology & Operations, Wealth ManagementChannels,Core Banking,Customer Centricity,Deposits and Liabilities,retail,technology,Wealth Management, Channels,Core Banking,Customer Centricity,Deposits and Liabilities,Retail Banking,Technology & Operations,Wealth Management, Keywords:ANZ, Sanjoy Sen, RBS, ING, Shanghai Rural Commercial Bank, Bank Of Tianjin, Panin Bank, Ambank ANZ, Sanjoy Sen, RBS, ING, Shanghai Rural Commercial Bank, Bank of Tianjin, Panin Bank, Ambank
|