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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

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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