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ANZ Shareholder Strategy Update

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Title: ANZ Shareholder Strategy Update


1
ANZ Shareholder Strategy Update Specialisation,
eTransformation and Growth
John McFarlane Chief Executive Officer Brisbane 1
8 August 2000
2
ANZ has now built a solid foundation
  • Competitive cost structure cost to income ratio
    at low 50s
  • Demonstrated ability to make bold portfolio moves
    (Grindlays sold, ANZIB reconfigured, retail
    stockbroking sold)
  • Demonstrated ability to execute fast against
    important imperatives (cost risk positions
    transformed over 2 years)
  • Most businesses displaying strong underlying
    momentum
  • High calibre, committed, dynamic management team

3
Group strategic direction built on
specialisation, eTransformation and growth
  • Proposition
  • Integrated financial services firms will lose to
    specialists over time
  • The rise of specialists and new technologies will
    deliver superior customer value and erode margins
  • For ANZ more value will be created through focus
    and leverage of intangible assets than
    traditional concentration plays
  • Strategy
  • Reconceive and develop ANZ as a portfolio of
    specialist businesses
  • Become an eBank with a human face
  • Create a portfolio of high growth businesses
    which leverage capabilities and brands

4
We are experiencing very profound change
Globalisation
Globalneweconomy
Oldeconomy
Internet
5
Technology is driving costs down
Elapsed time for 100kb transfer
Cost of a 3-minute telephone call from New York
to London
6
A disaggregated approach is required
7
Many Australian institutions focused on
consolidation stage
USA
EUROPE
AUSTRALIA
ASIA
8
Strategy 1 Reconceive ANZ as portfolio of
specialist businesses
  • Make each of our 21 businesses a specialist in
    its own right
  • Establish three new stand alone customer
    businesses - Wealth
  • Management, Small Business and General Banking
  • Accelerate the growth of our strong product
    monoline businesses
  • Move towards open architecture, selectively over
    time
  • Manage the portfolio and brands actively from the
    centre

9
Contribution balanced between personal and
corporate, and product and customer
738m
368m
311m


Other
Small Business
Institutional
General Banking
Corporate
Corporate
Personal
Wealth Mgmt
Transaction Services
Asset Finance
Mortgages
Capital Markets
International
Foreign Exchange
Funds Mgmt
Structured Finance
Cards
37m
Customer Businesses Shaded
Asia
Pacific
Excluding Grindlays
International
10
ANZ a leader in Corporate Banking
Share of Primary Relationships with Middle-Market
Companies
Overall Satisfaction with Bank
30
ANZ
20
NAB
CBA
WBC
10
0
ANZ
NAB
WBC
CBA
Source Corporate Banking Roberts Research Group
11
Momentum in Personal Financial Services
Mortgage Market Share


Apr-00
12
Distribution model
Make what we sell and sell what we make
ANZ Manufacture ie Mortgages
ANZ Distribution ie Branches
Customers
13
Distribution models
Make what we sell and sell what we make
Open Architecture
ANZ Manufacture ie Mortgages
ANZ Manufacture ie Mortgages
Other Manufactures
ANZ Distribution ie Branches
ANZ Distribution ie Branches
Other Distribution ie Mortgage Brokers
Customers
Customers
14
Group strategic direction built on
specialisation, eTransformation and growth
  • Proposition
  • Integrated financial services firms will lose to
    specialists over time
  • The rise of specialists and new technologies will
    offer superior customer value and will erode
    margins
  • For ANZ more value will be created through focus
    and leverage of intangible assets than
    traditional concentration plays
  • Strategy
  • Reconceive and develop ANZ as a portfolio of
    specialist businesses
  • Become an eBank with a human face
  • Create a portfolio of high growth business which
    leverage capabilities and brands

15
Technology transforms what customers expect
Time required to find a high rate certificate of
deposit
Minutes
Telephone
25
10
WWW
-60
WWW agent
1
-90
16
Strategy 2 the eBank with a human face
Web enabled Channels
Standard Platforms
Customers
17
anz.com
Internet Banking Signups
Internet Banking Users of Total Relationships
Internet Banking Customers
Online Applications - Credit Cards
Lending Balance
Deposit Balance
Number of Products
Profit
Attrition
18
myanz.com
19
Group strategic direction built on
specialisation, eTransformation and growth
  • Proposition
  • Integrated financial services firms will lose to
    specialists over time
  • The rise of specialists and new technologies will
    offer superior customer value and will erode
    margins
  • For ANZ more value will be created through focus
    and leverage of intangible assets than
    traditional concentration plays
  • Strategy
  • Reconceive and develop ANZ as a portfolio of
    specialist businesses
  • Become an eBank with a human face
  • Create a portfolio of high growth business which
    leverage capabilities and brands

20
Strategy 3 Create growth businesses
  • Build from our strong corporate franchise by
    creating new businesses in corporate ePayments
    and eProcurement
  • Strengthen our consumer proposition through
    building on our early eCommerce momentum,
    creating strong core offers and new businesses
  • Extend our leadership in the Pacific by
    replicating our model in new countries
  • Leverage our consumer and corporate eCommerce and
    Cards capabilities by partnering to build new
    businesses in Asia
  • Build a small number of regional and/or global
    niches which leverage our capabilities
  • Be very selective about acquisitions, considering
    only those which add strategically to individual
    businesses or enhance capabilities and create
    value

21
Web-enabling ANZ
B2C
AST Real Time Loan Approvals
B2B
Internal
ERP
VIPS
Directors on line
22
ANZ in 3-5 years
  • Leading positions in a number of specialist
    businesses in Australia, New Zealand and Asia
  • Portfolio of businesses likely to be narrower and
    more focused
  • A performance orientated driver of individual
    businesses
  • Portfolio actively re-shaped by the corporate
    centre
  • Multiple strategic alliances
  • A range of growth businesses and options
  • A leader in eCommerce
  • Higher market to book ratio

23
Financial goals
  • Earnings per share growth above peer average
  • ROE above 20
  • Cost income ratio comfortably below 50
  • Inner Tier 1 capital approaching 6
  • Maintaining rating in AA category

24
For more information visit anz.com
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