Make a note for this page

Save Note

Share with a friend

Send Email

Feedback

We're interested in your thoughts, and welcome any feedback you may have. Please email us with your comments, and we'll use them to continue the improvement of our future Shareholder Reviews.

Feedback

New Zealand
Division

David Hisco,
Chief Executive Officer, New Zealand

New Zealand Division

Case Study

Connecting New Zealand to Asia

New Zealand businesses are making the most of the growing connections between New Zealand and Asia. China is New Zealand's second largest export market and was worth NZ$5.6b in the past 12 months, making up 12% of New Zealand's exports.

Dairy led the way for exports to China and were worth NZ$2.3b in the past year, followed by forestry which was worth NZ$1.4b and wool and skins at NZ$0.5b.

Examples of how we've helped customers connect with China in the past year include:

  • Being the first trans-Tasman bank to offer trade deals in the Chinese currency Renminbi (RMB). Our New Zealand and Hong Kong teams worked together to arrange the first RMB deal for Wellington-based customer NAC Trading.
  • Facilitating a significant loan through ANZ China for one of New Zealand's largest corporate companies as part of the company's expansion strategy into China.
  • Connecting customers to our networks – including introducing New Zealand winemakers to potential partners in China. This resulted in Marisco Vineyards signing a distribution deal with one of China's largest wine companies and Jackson Estate signing a distribution deal with a retail wine outlet.

Sophie Stanley, Rural Manager, The National Bank Waikato, New Zealand

Sophie Stanley,
Rural Manager, The National Bank
Waikato, New Zealand

BUSINESS PROFILE

ANZ has operated in New Zealand for over 170 years and has a relationship with more than 2 million customers –almost 50% of New Zealanders.

Our business accounts for 1%1 of New Zealand's Gross Domestic Product.

 

Our brands, ANZ and The National Bank, have more branches and more ATMs than any other bank, and we employ 9,000 staff in 350 locations.

As New Zealand's largest bank, ANZ plays an important role in assisting New Zealand's economic growth and development.

BUSINESS HIGHLIGHTS

  • Introduced a regional leadership structure to bring decision-making closer to our customers.
  • Created stand-alone businesses for wealth and business banking; and merged our rural and commercial business to increase our focus on these important segments.
  • Initiated a simplification program, including significant technology investment to move to a single core banking system.
  • ANZ recorded the fastest growing customer satisfaction of any major bank in New Zealand this financial year2.
  • Launched a new mobile banking application, ANZ goMoneyTM, with more than 18,000 customers since it was first launched in mid-April 2011.
  • Introduced the first 'contactless' credit card into New Zealand.
  • Contributed to the success of Rugby World Cup 2011 as a Worldwide Partner, and thereby increased the awareness of ANZ.
  • Supported customers and staff impacted by the Canterbury earthquakes and the Pike River mine explosion.
  • Won a number of industry awards:
    • ANZ and National Bank named number one and two respectively in the Sunday Star-Times Canstar Cannex Bank of the Year Award.
    • Our Institutional team was rated outright first for 17 of 21 key measures including overall satisfaction, relationship manager capability and trusted adviser3.
    • OnePath won KiwiSaver Fund Manager of the Year from FundSource and Morningstar, and Fund Manager of the Year from FundSource.
    • Our Contact Centre was recognised as the best in New Zealand at the CRM Contact Centre Industry Awards.
1. ANZ Economics: New Zealand's Key Merchandise Trade (Markets by Commodity), August 2011
2. Source: The Nielsen Company's Consumer Finance Monitor
3. Source: 2011 Peter Lee Associates Large Corporate and Institutional Relationship Banking and Transaction Banking Survey

PERFORMANCE TABLES

FINANCIAL PERFORMANCE# ($M) 2011 2010 Movt %
Operating income 2,159 2,109 2%
Operating expenses (1,015) (1,057) (4%)
Profit before credit impairment
and income tax		 1,144 1,052 9%
Provision for credit impairment (166) (409) (59%)
Profit before income tax 978 643 52%
Income tax expenses and
non-controlling interests		 (286) (180) 59%
Profit after tax 692 463 49%
Total assets 70,273 69,711 1%
Contribution to Group earnings 12% 9%  
NON-Financial performance## 2011 2010
Retail customer satisfaction1
» ANZ		 89% 85%
» NBNZ
(Source: Nielsen Consumer Finance Monitor)		 92% 90%
Total employees2 (FTE)* 9,270 9,412
Employee engagement2 70% 63%
Total women in management3 35.0% 34.5%
Lost time injury frequency rate2 1.8 2.2
Volunteering hours2 16,750 18,285
Community investment4 ($m) 3.0 2.8
GHG emissions5 (tonnes CO2-e) 11,164 12,4296
Paper7 (tonnes per FTE) 0.13 0.15
# Underlying profit is adjusted for non-core items that are not part of the normal ongoing operations of the Group including one-off gains and losses, non-continuing businesses, timing differences on economic hedges and acquisition related costs. ## Non-financial data is based on geography. * Underlying. 1. This year NZ has adopted the methodology used in Australia for tracking customer satisfaction. On a like-for-like basis with 2010, ANZ customer satisfaction is 57% (up 3%) and NBNZ is 66%, the same as the September 2010 result. 2. Data includes employees in our Institutional divisions and business enablement functions such as Technology and Corporate Centre. 3. Women in management is calculated using headcount of active employees and includes staff working for and being paid by ANZ. FTE also captures staff on special leave including leave without pay, parental leave and long-term sick leave. 4. Calculated according to the London Benchmarking Group methodology and excludes foregone revenue. 5. Pending external verification. Includes Scope 1 and 2. A detailed GHG profile (Scope 1, 2 and 3) and our full environmental report will be available on anz.com. 6. Emission factors were updated by the NZ Government in 2011 – leading to a revision of 2009/10 data. 7. Pending external verification, includes both office and print (customer) paper.