Guide to Australian Business Records
Australia and New Zealand Banking Group Ltd (1970 - )
|Location: Melbourne, Victoria|
Formed 1970 by the amalgamation of the English Scottish and Australian Bank Ltd and the Australia and New Zealand Bank Ltd. Since that time the bank has expanded it's Australian and overseas operations. It has either purchased outright or gained a controlling interest in several overseas banking companies (e.g. Grindlays Bank PLC).
|URL: The home page for this entity is located at http://www.anz.com|
|Reference/Legal Number(s): 005 357 522|
The formed company was a result of a merger between Bank of Australiasia, established 1835, and The Union of Australia Limited, established in 1837. Registered under the United Kingdom Companies Act, 1948, on March 28, 1951. The Australia and New Zealand Savings Bank Ltd., a wholly owned subsidiary, commenced operations on January 19, 1956. A.N.Z Savings Bank (New Zealand) Ltd. commenced operations in New Zealand on Oct 1, 1964. In 1969, the bank was merged with the English, Scottish and Australian Bank Ltd, to form the Australia and New Zealand Banking Group Ltd. The place of residence and incorporation was transferred from the United Kingdom to Victoria in 1977.
The ANZ acquired Bank of Adelaide in 1979, and PostBank, New Zealand in 1989. The following year, it acquired National Mutual Royal Bank Ltd and Town & Country WA Building Society.
In 1992, the Group restructured its United States operations, assumed majority ownership of Dalgety Farmers Group (95%) and sold its African operations to Standard Bank Investment Corporation for $53 million. In 1993, the Group sold its Canadian operations to Hong Kong Bank of Canada and the pastoral business of subsidiary Dalgety Farmers Limited to Wesfarmers Ltd. In 1996, the Group acquired 100% ownership of the Bank of Western Samoa, and ANZ Investment Bank was formed.
In July 2000, the Group sold its Grindlays banking business in the Middle East and South Asia together with the Grindlays Private Banking business in Jersey and the UK to Standard Chartered Bank, a UK registered bank. Also during 2000, the Group acquired EFTPOS New Zealand, the leading provider of merchant terminals in the NZ market (40% share); announced a 50:50 joint venture with OCBC to build a web-led bank in the Asian region; and acquired a 10% share in Hong Kong Internet broker Boom.com.
In May 2001 announces the largest profit ever recorded by an Australian bank.
Sources used to compile this entry: Original data from D. Terwiel, S. P. Ville and G. A. Fleming, Australian Business Records: An Archival Guide, Canberra : Australian National University, Faculty of Economics and Commerce, Dept. of Economic History, 1998. Subsequent information provided by RMIT, MBIT student, Catherine Nolan.
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Published by Archive Research Consultancy, 1999-2006
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Updated: 3 December 2006