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Australia and New Zealand Banking Group (ANZ Bank) SWOT & PESTLE Analysis

Last Updated : 25 Aug, 2017

OVERVIEW

Name of the Company: Australia and New Zealand Banking Group (ANZ Bank)

Business Sector: Banking

Operating Geography: Australia, New Zealand, Global

About the Company: The Australia and New Zealand Banking Group Limited (ANZ Bank) was first opened as Bank of Australia, which opened its first office in Sydney in the year 1835. It then established an office in Melbourne in 1838 which is where its current headquarters is located. ANZ operates in 33 markets globally with representation in Australia, New Zealand, Asia, Pacific, Europe, America and the Middle East.ANZ is the 3rd largest bank in Australia, the largest banking group in New Zealand and Pacific, and among the top 20 banks in the world. It provides a range of banking and financial products and services to over 9 million customers and employs over 50,000 people worldwide.

Revenue: 21.07 billion AUD (2015)

SWOT & PESTLE Analysis

The SWOT analysis for ANZ bank is presented below:
Strengths
Weaknesses
1. Talent Management
2. Environmental and community welfare strategies
3. Continuous Growth
4. Shareholders Delight
5. Rich Value based system
1. Interest rate fixation scandal
2. Controversies and scams
3. Poor Technology
Opportunities
Threats
1. Employee Engagement
2. Environment protection
3. New markets
1. Culture Mismatch
2. Competitor threats in existing & evolving markets.
3. Low Risk Appetite
4. Potential loss of customers due to poor service and controversies
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Strengths

1. Talent Management: In order to ensure high level of customer satisfaction, a lot of focus is given on attracting and managing the right talent. The bank focuses on attracting talent from diverse backgrounds on the basis of age, gender and culture. A lot of focus is also given on rewarding and recognizing employees, continuously reviewing existing working conditions and ensuring good working relations with a view to retain talented employees. The primary aim behind providing all these benefits is to ensure an ethical and customer service oriented workforce.

To get the complete detailed SWOT report on ANZ Bank please mail us at: support@swotandpestle.com. or contact us here.

Anz Bank SWOT analysis has been conducted and reviewed by senior analysts from Barakaat Consulting.

References

1. ANZ Bank. 2015. Company Profile- http://shareholder.anz.com/our-company/profile/facts#bankingmuseum.

2. ANZ Bank. 2015. Shareholders Presentation- http://www.shareholder.anz.com/sites/default/files/Presentation.pdf.

3. ANZ Bank. 2015. Values-http://www.anz.com/about-us/corporate-responsibility/more-mike/values/.

4. sas. 2015. Five content strategy lessons from ANZ Bank -http://www.sas.com/en_us/insights/articles/marketing/Five-content-strategy-lessons-from-ANZ-Bank.html.

5. Reserve Bank of Australia. 2015. Interest Rate Decisions- http://www.rba.gov.au/monetary-policy/int-rate-decisions/index.html.

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The PESTLE / PESTEL analysis for ANZ Bank is presented below:
Political
Economical
1. Regulatory bodies and issues
2. RBA and Trans-Council policy implications
1. Economic variables and implications
2. Changes in economy and their implications
Social
Technological
1. Development of Content Strategy
2. Customer focus
3. Societal welfare activities
1. Innovations
2. Existing Technology and issues faced
3. Need for new technology
Legal
Environmental
1. Regulatory Authorities and their proposals
2. Tougher capital buffers
3. Bail-in and its implication
1. Location Strategy
2. Climate change issue
3. Environmental protection activities
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Political

1. Regulatory bodies and issues: ANZ Bank is a part of the “Big 4” banks in Australia and hence along with the other 3 banks, captures a majority share in the Australian market and makes the market oligopolistic in nature. The Australia New Zealand Closer Economic Relations Trade Agreement (ANZCERTA) since its inception in 1983 has increased trade flows and economic growth in both these countries. The policy against the merger of the Big 4 reflects the broad political unpopularity of bank mergers. ANZ Bank is in effect regulated by both the Reserve Bank of New Zealand and Australian Prudential Regulation Authority (APRA).There are differences in regulatory approach for a same issue, which essentially means doing the same thing twice. This leads to increased compliance costs, increased complexity of training of staffs, complexity of compliance effort and associated administrative costs. These costs are ultimately borne by consumers.

To get the complete detailed PESTLE report on ANZ Bank please mail us at: support@swotandpestle.com. or contact us here.

ANZ Bank PESTLE analysis has been conducted and reviewed by senior analysts from Barakaat Consulting.

References

1. ANZ Bank. 2015. Company Profile- http://shareholder.anz.com/our-company/profile/facts#bankingmuseum.

2. ANZ Bank. 2015. Shareholders Presentation- http://www.shareholder.anz.com/sites/default/files/Presentation.pdf.

3. ANZ Bank. 2015. Values-http://www.anz.com/about-us/corporate-responsibility/more-mike/values/.

4. sas. 2015. Five content strategy lessons from ANZ Bank -http://www.sas.com/en_us/insights/articles/marketing/Five-content-strategy-lessons-from-ANZ-Bank.html.

5. Reserve Bank of Australia. 2015. Interest Rate Decisions- http://www.rba.gov.au/monetary-policy/int-rate-decisions/index.html.

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