ANZ-OCBC Bank Joint Venture
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ANZ-OCBC Bank Joint Venture. Media Briefing 17 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

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Anz ocbc bank joint venture

ANZ-OCBC Bank Joint Venture

Media Briefing

17 July 2000


Joint venture key points

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

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

Asia’s mass affluent market is emerging

Wired Emerging Affluent

  • Adults in urban areas:

  • Annual income over approx. US$10,000

  • Connected to the Internet


Strategic logic for anz ocbc

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

OCBC/ANZ partnership makes sense

Country/Branches

ANZ

OCBC

Partnership Benefits

  • 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

Singapore

42

1

Hong Kong

3

1

China

2

5

Taiwan

1

1

Malaysia

25

1 Rep.

1 Rep.

Thailand

1

Indonesia

JV

Panin

Philippines

0

1

Japan

1

2

1

Korea

1

1 Rep.

Vietnam

2


Pipeline under development

Pipeline under development

Leading Financial Portal

Online Stockbroking

Internet Service Provider

  • Regional e-based financial institution

+

Retail Alliances

B2B and B2C Enabling

Banking front end


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