ANZ Fiji

Last updated

ANZ Fiji
FormerlyBankoh
TypeBank, Subsidiary of ANZ Group
Industry Financial services
PredecessorANZ ASB
FoundedDecember 16, 1880 (1880-12-16)
Headquarters
Fiji
Area served
Fiji
Key people
Saud Minam CEO of ANZ Fiji
ProductsBusiness Banking and Retail Banking, Markets/International Trade Services, Risk, Credit, Operations and Human Resources
BrandsANZ
Services Banking
Parent ANZ Group

ANZ Fiji is the largest bank in Fiji and has about a 40% market share. ANZ Fiji currently operates 13 branches country-wide.

Contents

History

ANZ Fiji traces its presence in Fiji back to 1873 through an acquisition. Investors from Auckland established the Fiji Banking and Commercial Trading Company Limited in 1873. However, the bank's owners sold it in 1876 to the Bank of New Zealand (BNZ); ANZ Group acquired BNZ’s operations in 1990 after 114 years of Bank of New Zealand ownership. [ citation needed ]

ANZ’s own entry into the Pacific region dates back to 16 December 1880 when the Union Bank of Australia (est.1837) opened a branch in the old capital of Fiji, Levuka. [ citation needed ] However, the bank closed the branch in 1895. In 1951, Union Bank’s successor, ANZ, returned to Fiji with a representative office that it upgraded to a branch.

In 1985, ANZ acquired Barclays Bank’s operations, which Barclays had established in 1973. In 2001, ANZ bought Bank of Hawaii’s Bankoh subsidiary, which had three branches throughout Fiji. Bankoh had entered the Fijian banking market in 1993.

In February 2017, ANZ Fiji appointed Saud Abdul Minam as CEO of ANZ Fiji. [1] Previously, Saud Abdul Minam served as Head of Commercial, Pacific at Australia & New Zealand Banking Group Limited. [2] During his tenure as Head of Commercial, ANZ has announced free access to its internet banking platform and website for Vodafone Fiji users. [3]

Related Research Articles

National Bank of New Zealand

The National Bank of New Zealand Limited (NBNZ), often referred to as The National Bank, was one of New Zealand's largest banks. Throughout much of its history, the National Bank provided commercial banking services to mainly major industrial and rural as well as some personal customers.

ANZ Bank New Zealand

ANZ Bank New Zealand Limited is a New Zealand banking and financial services company, which operates as a subsidiary of Australia and New Zealand Banking Group Limited of Australia. ANZ is one of New Zealand's big four banks, and is the largest bank in New Zealand with approximately 30% of market share as of March 2021.

Bank of New Zealand

Bank of New Zealand (BNZ) is one of New Zealand's big four banks and has been operating in the country since the first office was opened in Auckland in October 1861 followed shortly after by the first branch in Dunedin in December 1861. The bank operates a variety of financial services covering retail, business and institutional banking and employs over 5,000 people in New Zealand. In 1992 the bank was purchased by the National Australia Bank and has since then operated as a subsidiary, but it retains local governance with a New Zealand board of directors.

HSBC Bank Canada, formerly the Hongkong Bank of Canada (HBC), is the Canadian subsidiary of British multinational banking and financial services company HSBC. HSBC Canada is the seventh largest bank in Canada, with offices in every province except Prince Edward Island, and is the largest foreign-owned bank in the country. The corporate headquarters are located at the HSBC Canada Building in the downtown core's financial district of Vancouver, British Columbia. HSBC Bank Canada's Institution Number is 016.

Australia and New Zealand Banking Group Australian multinational bank

The Australia and New Zealand Banking Group Limited (ANZ) is an Australian multinational banking and financial services company headquartered in Melbourne. It is Australia's second-largest bank by assets and third-largest bank by market capitalisation.

ANZ may refer to:

AMP Limited Financial services company located in Australia and New Zealand

AMP is a financial services company in Australia and New Zealand providing superannuation and investment products, financial advice, and banking products including home loans and savings accounts. Its headquarters is in Sydney, Australia.

Banking in Australia is dominated by four major banks: Commonwealth Bank, Westpac, Australia & New Zealand Banking Group and National Australia Bank. There are several smaller banks with a presence throughout the country, and a large number of other financial institutions, such as credit unions, building societies and mutual banks, which provide limited banking-type services and are described as authorised deposit-taking institutions (ADIs). Many large foreign banks have a presence, but few have a retail banking presence. The central bank is the Reserve Bank of Australia (RBA). The Australian government’s Financial Claims Scheme (FCS) guarantees deposits up to $250,000 per account-holder per ADI in the event of the ADI failing.

The Bank of Hawaii Corporation is a regional commercial bank headquartered in Honolulu, Hawaii. It is Hawaii's second oldest bank and its largest locally owned bank in that the majority of the voting stockholders reside within the state. Bank of Hawaii has the most accounts, customers, branches, and ATMs of any financial institution in the state. The bank consists of four business segments: retail banking, commercial banking, investment services, and treasury. The bank is currently headed by chairman, president and chief executive officer, Peter S. Ho.

Commonwealth banknote-issuing institutions also British Empire Paper Currency Issuers comprises a list of public, private, state-owned banks and other government bodies and Currency Boards who issued legal tender: banknotes.

The Big Four is the colloquial name given to the four main banks in several countries where the banking industry is dominated by just four institutions and where the phrase has thus gained currency. Some countries include more or less institutions in such rankings, leading to other names such as Big Three, Big Five, or Big Six.

The Bank of Papua New Guinea is the central bank of Papua New Guinea, which has a core mandate to ensure price stability and maintain macroeconomic growth. To achieve this, it discharges four main functions; 1. responsible for the formulation and implementation of monetary policy, 2. ensure financial system development and stability, 3. ensure the payment system remain efficient, and 4. provide a banking role to the Government. It also manages the country's foreign reserves, issue the country's currency, manages the gold and foreign exchange of Papua New Guinea. Mr Loi Martin Bakani is the current governor of the bank.

Grindlays Bank Historic British bank

The historic overseas bank was established in London in 1828 as Leslie & Grindlay, agents and bankers to the British army and business community in India. Banking operations expanded to include the Indian subcontinent, the Middle East and elements of Africa and Southeast Asia. It was styled Grindlay, Christian & Matthews in 1839, Grindlay & Co from 1843, Grindlay & Co Ltd from 1924 and Grindlays Bank Ltd in 1947 until its merger with the National Bank of India.

Bank South Pacific is the largest bank in Papua New Guinea, with 35 branches throughout the country and in 6 countries. BSP currently services over 650,000 business banking customers throughout the Pacific. As at 31 December 2014, BSP had total assets valued at K15.8 billion. Bank South Pacific is listed on the Port Moresby Stock Exchange and, as of 25 May 2021, the Australian Stock Exchange.

UDC Finance Limited is a finance company in New Zealand. UDC's main expertise is now in providing asset-backed finance for plant, vehicles and equipment, where they do not rely on land or buildings as security. It became a wholly owned subsidiary of Shinsei Bank in September 2020.

Databank Systems Limited was the name of a not-for-profit "off balance sheet" company set up by a consortium of competing banks in New Zealand, to operate on what is nowadays termed a "Shared services Agency" basis, to provide computing resources for the consortium members. The company was set up in 1967, and in 12 years grew to be the largest non-Government data processing organisation in the Southern Hemisphere, servicing more than 1,200 banking offices.

Westpac Australian multinational bank

Westpac Banking Corporation, known simply as Westpac, is an Australian bank and financial services provider headquartered in Sydney, Australia. Established in 1817 as the Bank of New South Wales, it acquired the Commercial Bank of Australia in 1982 before being renamed shortly afterwards. It is one of Australia's "big four" banks and is Australia's first and oldest banking institution. Its name is a portmanteau of "Western" and "Pacific".

Lloyds Bank International is a wholly owned subsidiary of Lloyds Bank Corporate Markets in the United Kingdom, which is in turn part of Lloyds Banking Group, one of the largest banking groups in Europe.

ING Australia

ING Bank (Australia) Limited is a direct bank operating in Australia. It is a wholly owned subsidiary of the multinational Dutch bank, ING Group. ING Australia holds an Australian banking licence as a foreign subsidiary company.

References

  1. "ANZ Fiji confirms new boss". Newswire. Archived from the original on 12 February 2017. Retrieved 12 February 2017.
  2. "Stocks". Bloomberg.com. Retrieved 12 February 2017.
  3. "15% increase in ANZ's online banking transactions". Newswire. Archived from the original on 12 February 2017. Retrieved 12 February 2017.

Sources