ANZ bank targets Asia-Pacific region

Australian bankers have targeted business opportunities in China and used Expo 2010 Shanghai as a platform to promote its brand awareness in the Asia-Pacific region.

ANZ, one of the big four in Australian banking has become a platinum sponsor of the Australian pavilion and a key sponsor of the New Zealand pavilion at the Expo so as to promote its market expansion strategy in China.

"We see the Expo as an opportunity to demonstrate our strong commitment to China," said Gilles Plante, ANZ chief executive officer North East Asia, Europe and America.

Plante said that through the pavilion tour, visitors will have the opportunity to better understand ANZ.

ANZ's growth strategy in China is aimed at building a strong institutional business for corporate and financial institutional clients, and a retail business for affluent and emerging affluent customers.

"We believe that ANZ is the only bank whose sole focus is on Asia-Pacific - we are not trying to be a mass market or a global bank," said Plante. "That means we have specialist capabilities and insight in the markets in which our clients are investing, including China."

Plante revealed that the focus also means the firm's strengths are in relationships, products and capabilities focused on this region, such as foreign currency products for individual and corporate customers, and in sectors such as natural resources and energy, and agribusiness.

ANZ expanded into the China market in 1986, and since then its strategy in China has been to have a network of outlets in key cities, and to deliver a straightforward banking experience for its clients.

The bank has five outlets including a presence in Beijing, Shanghai and Guangzhou and established a rural bank in Chongqing Liangping County last year.

"We plan to grow business by focusing on three high-growth regions, which are the Yangtze River Delta Region, Pearl River Delta Region and Bohai Bay Area," said Plante.

The firm has ambitions to have up to 20 outlets in key cities.

To better carry out its expansion strategy, ANZ has strengthened its cooperation with locally based banks in China. The firm established partnerships with the Bank of Tianjin in 2007 and Shanghai Rural Commercial Bank in 2006.

(China Daily 06/08/2010 page15)