ANZ remains a serious player in Asia

Despite a year of consolidation and transition, ANZ has maintained its position as the fourth top Corporate Bank in Asia, according to the annual Greenwich Associates rankings.

For the fifth consecutive year, the Greenwich Associates Large Corporate Banking study rated ANZ at equal No. 4 in terms of overall market penetration in Asia.

Greenwich Associates interviewed over 700 Asia-based companies and foreign subsidiaries with annual turnovers above US$500 million for the annual survey.

ANZ ranked No. 1 for overall relationship quality in Singapore, a leadership position the bank has maintained since 2015. In Hong Kong, ANZ ranked No. 4 for overall market penetration.

Both markets are key to ANZ’s rapidly-evolving strategy in the region.

Big in Japan

Despite rumours to the contrary, ANZ remains committed to Asia, chief executive Shayne Elliott recently told the Australian and New Zealand Chamber of Commerce in Japan. However, economic and regulatory climate change has seen the bank adjust its strategy, not abandon it.

Elliott said “the game has changed” for banking in the wake of the global financial crisis and the ensuing global response.

“We had a strategy - and it was a good strategy - and it was about building out in a certain way but the rules changed,” he said

“Part of that has been that we’ve actually sold parts of our business. It doesn’t mean we’re pulling out of Asia, not at all. Asia is so critical to our strategy.”

According to ANZ group executive international, Farhan Faruqui, 2016 was a year of transition but the bank has kept its eyes on the (silk) road.

“These results reflect consistent focus on our target clients with trade and capital flows in Asia, at a time of challenging trading conditions and increased competition in the banking sector.”

ANZ’s comprehensive Asian network remains “a long term competitive strength” in connecting ANZ customers across the Asia-Pacific, Faruqui said.

“The evolving nature of banking means we need to target specific clients, markets and products which play to our strengths, and these results demonstrate that this strategy is continuing to deliver results.”

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