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ANZ-OCBC Bank Joint Venture

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

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  1. ANZ-OCBC Bank Joint Venture Media Briefing 17 July 2000

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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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