The strength of ANZ’s recent profit result was underpinned by a solid performance from its outperforming international business but the head of that division says it still has plenty of room to grow.
"There’s an opportunity for growth because of our market positioning."
Speaking to BlueNotes on video, ANZ international and institutional banking CEO Andrew Géczy says the size of the bank’s markets means it has ample opportunity for further growth and he refuted suggestions from some quarters the Asian business was not delivering.
“I think that when we look at what’s happening with the trade flows and the foreign direct investment and the wealth flows, we continue to see growth in those (Asian) marketplaces,” he says.
Géczy says ANZ has a very large institutional market share in Australia, much bigger than its coverage in Asia however the bank is growing faster than Australia’s GDP, a challenge to maintain.
“Given our market position in many of these Asian economies, we’re not quite that large,” he says. “So we absolutely have a chance to grow and those economies are growing faster, of course, than Australia’s.
“There’s an opportunity for growth because of our market positioning. The second opportunity for growth is of course in the trade flows themselves.”
Géczy also talks about the importance of being one the region’s most connected and respected banks and the outlook for ANZ’s markets revenue. Watch the video above to find out more.
View more videos on ANZs annual result:
Mike Smith walks through the full year result
More opportunity ahead for ANZ on productivity
The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.
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