Post on 12-Jan-2016
ANZ-OCBC Bank Joint Venture
Media Briefing17 July 2000
Joint venture key points
ANZ and OCBC have established a joint venture to develop a stand alone internet bank with a regional network
New business model will deliver a complete proposition for customers’ financial services lifestyle
High growth model, with low customer acquisition costs and scalable technology
Joint venture will make strategic investment in a range of internet services companies - first partner, BOOM.COM
Investment of US$100 million over three years
Launch end 2000
e-commerce in Asia is key to new growth
There is a largely untapped opportunity to provide financial services to Asia’s emerging mass affluent consumers
e-commerce provides a more cost efficient and low risk way of targeting regional growth opportunities
The need for speed and access to markets means it makes sense to combine the strengths of ANZ and OCBC
The business model recognises the weaknesses of existing pure online propositions and includes specific responses
Asia’s mass affluent market is emerging
J apan
14.00
24.24
2000 2005
Korea
1.50
3.23
2000 2005 Hong Kong
1.34
3.53
2000 2005
Singapore
1.34
2.61
2000 2005
Taiwan
1.24
2.98
2000 2005
Malaysia
0.500.89
2000 2005
Thailand
0.45
1.11
2000 2005
China 3
0.120.39
2000 2005
Indonesia
0.10 0.26
2000 2005
Philippines
0.10 0.23
2000 2005
Adults in urban areas:
• Annual income over approx. US$10,000
• Connected to the Internet
Wired Emerging Affluent
Strategic logic for ANZ/OCBC
ANZ’s focus is on growth of new positions in the Pacific and Asia
- re-energise existing positions and direct new investment towards e-commerce
- 29% stake in PT Panin Bank in Indonesia
- e-commerce joint venture with OCBC
OCBC strategy to transform into a “click-and-mortar” bank and at the forefront of the e-financial landscape
- finatiQ.com
tx123.com iOCBC.com iWap
OCBC/ANZ partnership makes sense
Shared vision of opportunity across Asia
Complementary licences, strategic fit
Complementary strengths provide core skills for a successful e-venture
Both banks embrace the e-space at home
Partnership Benefits Country/BranchesOCBC ANZ
China
42 1
Hong Kong 3 1
Indonesia
5 2
Malaysia 25 1 Rep.
Philippines
11
Singapore
Taiwan
1
1
Thailand
0
Vietnam
2Japan
Korea
1 Rep.
JV Panin
1
1
1 Rep. 2
1
Pipeline under development
Regional e-based financial institution
+
Internet Service Provider
B2B and B2C
Enabling
Online Stockbroking
Retail Alliances
Leading Financial
Portal
Banking front end