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External Environment Analysis of ANZ Banking Group New Zealand Ltd

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Introduction

External Environment Analysis of ANZ Banking Group New Zealand Ltd General Environment Economy: * Inflation rates in New Zealand over the past decade has averaged 2.7 * Since September 2002 the inflation rate has been kept to between and average 1 to 3% until the year before last. * Inflation rate has jumped up to 5.3% in the year ending June 30 2011 o Highest inflation rate since 1990 Figure 1 * Real GDP per capita is back where it was in 2005. * Real Private consumption per capita recently returned to a level where it was in 2008. * Real wages have slipped back to where they were three years ago * While unemployment rate over the past couple of years has hovered around a level not seen since the 2000. (Institute of Economic Research) Figure 2 New Zealand consumer confidence eased in March as cautious consumers remained focused on debt. Consumers are sending mixed signals about how they feel in an ANZ-Roy Morgan survey. (NZ Herald.) * Auckland the most confident city on 118.5,. * Wellington recorded the largest drop falling 13 points to a national low of 100.9. ...read more.

Middle

Current Strategy * Reported cash earnings of $612 million for last year * BNZ CEO Andrew Thorburn said, "This is an excellent result for BNZ amid tough local trading conditions and ongoing global economic fragility." This strong full year result is built on our continued support of customers, solid revenue and deposit growth and prudent cost management."(BNZ.co.nz) Assumptions "While we're seeing a local economy that's struggling to gain growth momentum we remain optimistic about the long term economic outlook with favourable stimulus to come from the eventual Christchurch rebuild, solid export volumes and continued global demand for our commodities" (Andrew Thorburn, 2011) * Believes that New Zealand needs to move from caution to confidence to get the economy moving again Strengths BNZ's continued drive to enhance its customers' experience has led to a number of innovative developments. Earlier this year BNZ became the first New Zealand bank to develop and deliver mobile banking across all three mobile platforms; the mobile web, iPhone and Android (BNZ.co.nz) KiwiBank Objetives We're banking heroes delivering straightforward banking for New Zealand Current Strategy * Kwiwbank reported cash earnings of $21.2 million, a decrease of 54% from previous year * Increased loans and advances by 10% from $10.4 billion to $11.5 billion * Increased ...read more.

Conclusion

Highest inflation rate for 21 years. Retrieved March 18, 2012 from http://www.stuff.co.nz/the-press/business/5304781/Highest-inflation-rate-in-21-years APN Holdings Ltd (2012).One-third of kiwis would not recommend their bank. (2012). Retrieved March 16, 2012 from http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10790240 APN Holdings Ltd (2012).Kiwibank joins rush, cuts fixed-term mortgage rates. (2012) Retrievd March 17, 2012, from http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10782933 APN Holdings Ltd (2012).ANZ National Bank cuts fixed mortgage rates. (2012) Retrieved March 16, 2012, from http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10785538 APN Holdings Ltd (2012).Consumer confidence eases, Christchurch back to pre-earthquake levels. (2012). Retrieved March 16, 2012, from http://www.nzherald.co.nz/economy/news/article.cfm?c_id=34&objectid=10792265 Figure 1. Inflation [Graph] Retrived from http://www.rbnz.govt.nz/keygraphs/fig1.html Figure 2. Real Gross Domestic Product [Graph] Retrieved from http://www.rbnz.govt.nz/keygraphs/Fig2.html ASB Bank Ltd (2009) Resilient economy provides platform for ASB's strong performance [Media Release] Retrieved from https://www.asb.co.nz/-news-and-reports/-antenna/media-centre/asb/feed-view?cat=Press+Releases&pos=3 Kiwibank (2012) Kiwibank Full Year results 2011[Press Release] Retrieved from http://www.kiwibank.co.nz/about-us/news-room/show-news.asp?story=172 Westpac New Zealand Ltd (2012) Westpac continued momentum in subdued environment [Media Release] Retrieved from http://westpac.co.nz/olcontent/olcontent.nsf/Content/May+4%2C+2011 BNZ (2012). What we believe. Retrieved March 19, 2012, from http://www.bnz.co.nz/about-us/get-to-know-us/what-we-believe BNZ (2012). BNZ reports a strong result in tough market [Media Release] Retrieved from http://www.bnz.co.nz/static/www/docs/media-releases/mr2011-10-27.pdf Chapman Tripp (n.d) DOING BUSINESS IN NEW ZELAND: Banking and Finance. Retreived March 20, 2012, from http://www.chapmantripp.com/publications/Pages/DOING-BUSINESS-IN-NZ-Banking-and-finance.aspx Zheng, L. Y., Customer switching behaviour in the New Zealand banking industry (Thesis, Lincon University, Christchurch, New Zealand). Retrieved from http://researcharchive.lincoln.ac.nz/dspace/handle/10182/2024 ?? ?? ?? ?? Levin Laird 0969366 Strategic Management Assignment 1 ...read more.

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