ANZ CURRENT RECOMENDATION : BUY at MARKET for Long term gains 2/3 years
As of 1:10 AM EST
$20.71AUD
Price Change
0.31
Percent Change
1.52%
Company profile
Australia and New Zealand Banking Group Limited (ANZ) is engaged in providing a range of banking and financial products and services to retail, small business, corporate and institutional clients. The Company conducts its operations primarily in Australia and New Zealand. Its other operations are conducted across the Asia Pacific regions, and in a number of other countries, including the United Kingdom and the United States. It operates through five main segments: Personal, Institutional and New Zealand Businesses, Partnerships & Private Bank and Group Center. On November 21, 2006, ANZ announced that it acquired 19.9% interest in Shanghai Rural Commercial Bank. In July 2006, ANZ acquired a 20% share in Tianjin City Commercial Bank. In May 2007, the Company held a relevant interest of 81.4% in E*TRADE Australia Limited. In July 2007, the Company completed the acquisition of Citizens Security Bank (CSB) in Guam.
Australia and New Zealand Banking Group Ltd (ANZ.AX: Quote, Profile, Research) said on Monday it will review its involvement in securities lending and with the collapsed stockbroker Opes Prime.
ANZ was one of two lenders to Opes Prime, which went into receivership in late March owing more than A$1 billion ($920 million). ANZ is part-way through selling shares held as collateral to recoup a A$616 million loan made to Opes.
Two Australian margin lenders — Opes and Lift Capital — have collapsed in the past two weeks as the global credit crunch puts pressure on lenders to recoup their loans.
Margin lending, where investors borrow to buy stocks, had boomed in recent years as global share markets rallied.
ANZ last week had to sharply increase its bad debt provisions for the first half of 2008, hammering its shares as investors worried about banks’ exposures to financially troubled firms.
Australia & New Zealand Banking Group Ltd., Bank of Communications Co. And Industrial & Commercial Bank of China Ltd. Bid For Wing Lung Bank Limited-DJ
Dow Jones reported that Wing Lung Bank Limited has shortlisted bids from Australia & New Zealand Banking Group Ltd., Bank of Communications Co. and Industrial & Commercial Bank of China Ltd. after receiving nonbinding offers at the end of March for their majority stake in the bank. The shortlisted bidders have begun due diligence and are expected to submit binding bids in the coming weeks. A sale of the family’s majority holding would trigger a tender offer for all outstanding shares of the bank including those publicly traded in Hong Kong, pushing the overall price for the acquisition to above $5 billion.
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Australia and New Zealand Banking Group To Acquire Remaining 50% In ANZ Rabinov Property Management Limited
Australia and New Zealand Banking Group: ANZ Specialist Asset Management Limited as the responsible Entity for ANZ Rabinov Property Trust announced that Australia and New Zealand Banking Group is acquiring the remaining 50% interest that it does not currently own in ANZ Rabinov property Management Limited.
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COMPANY ADDRESS:
Australia and New Zealand Banking Group Ltd
Level 6, 100 Queen Street
Victoria
Melbourne, VIC 3000
P: +61 39273.6141
F: +61 39273.6142
ANZ Bank
ANZ is a major Australian Financial Institution offering home loans, credit cards, savings accounts, car loan, business loans, Internet Banking, insurance, …
www.anz.com/ – 32k – Cached – Similar pages
