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4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Australia and New Zealand Banking Group    ANZ   AU000000ANZ3

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Australia and New Zealand Banking Group : ANZ continues expansion in China with new branch in Hangzhou

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01/18/2013 | 07:35am CEST
Media Release

For Release: 18 January 2013

ANZ continues expansion in China with new branch in Hangzhou

ANZ today announced a further milestone in its expansion in China with the establishment
of a new branch in Hangzhou, the capital and the largest city of Zhejiang Province in Eastern
China.
Speaking at the official ceremony, ANZ Chief Executive Officer Mike Smith said: "As one of China's most vibrant and prosperous cities, Hangzhou is an important contributor to economic growth and development of the Yangtze River Delta which is a strategic market for ANZ in China.
"With a large number of private business and Asian companies established in Zhejiang Province and its increasing connectivity with Australia and New Zealand, it makes sense for ANZ to expand here to support the growing trade, investment and people flows across the region," Mr Smith said.
ANZ Hangzhou branch will cover the entire Zhejiang Province and offer a full range of products and services including trade and supply chain, cash management, markets and relationship banking services for corporate customers as well as deposits, mortgages, wealth management and migrant banking services for individual customers. The new branch is located in the downtown business area at Euro America Center, 26 Jiao Gong Road, Xihu District.
As a key city of the Yangtze River Delta, Hangzhou is known for its private business and personal wealth. The city hosts a large manufacturing base and information technology industry and serves as the trade and logistics hub for China's East Coast. The economy in Hangzhou has rapidly developed with double-digit annual GDP growth rate over the past two decades.
ANZ has had a presence in China since 1986 and is the only Australian bank to be locally incorporated in China. ANZ now has branches in Shanghai, Beijing, Guangzhou, Chongqing and Hangzhou, a 100% ANZ-owned rural bank in Liangping County, the Chongqing Liangping ANZ Rural Bank Co Ltd., an operations hub in Chengdu and strategic partnerships with Shanghai Rural Commercial Bank and Bank of Tianjin.
For media enquiries contact:
Stephen Ries
Senior Manager Media Relations ANZ
Tel: +61 3 8654 3659 or +61 409 655 551
Email: Stephen.Ries@anz.com
Lucy Wong
Head of Strategy, Marketing & Corporate
Communications, China
Tel: +86-21-6169-6007
Email: Lucy.Wong@anz.com

Australia and New Zealand Banking Group Limited ABN 11 005 357 522

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Financials ( AUD)
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EBIT 2017 10 924 M
Net income 2017 7 125 M
Debt 2017 -
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P/E ratio 2017 13,18
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Average target price 30,6  AUD
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