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ANZ & UNDP Banking the Un-banked but Bankable in the Pacific

ANZ & UNDP Banking the Un-banked but Bankable in the Pacific. Carolyn Blacklock The World Bank Global Access to Finance Conference Washington DC 31 st May 2006 . ANZ is one of Australia’s “big four” banks & the leading bank in the Pacific. Established 1835 Represented in 27 countries

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ANZ & UNDP Banking the Un-banked but Bankable in the Pacific

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  1. ANZ & UNDPBanking the Un-bankedbut Bankable in the Pacific Carolyn Blacklock The World Bank Global Access to Finance Conference Washington DC 31st May 2006

  2. ANZ is one of Australia’s “big four” banks & the leading bank in the Pacific • Established 1835 • Represented in 27 countries • 31,000 employees • #4 Australian company • Largest company in New Zealand • Leading bank in Pacific • Market capitalisation USD$40b • Assets of USD$319b

  3. Where is Fiji? Fiji

  4. Banking the Un-banked but Bankable • Overview of our programme • What we have learned so far • How we are contributing * Financial indicators * ANZ & UNDP changing lives • The Future

  5. Overview of the Programme • 2004: 400,000 people with no access to banking in Fiji • UNDP & ANZ competency based partnership • UNDP financial literacy • ANZ six mobile banking units • Information sharing – greatest benefit to each party • Banking & education – positive impact for communities

  6. What we have learned so far • Traditional banking models are not appropriate • Boldness & innovation are integral • Empower not control customers • Financial education & banking not one or the other • Traditional culture is powerful, use it • Resilient leadership is essential

  7. Financial indicators • 54,000 customers in 18 months • USD$2million in savings • 400 MicroLoans, USD$200,000 in five months • Less than 2% arrears on MicroLoan portfolio • Break-even forecast June 2007 • Cost to Serve USD$12 per customer p.a.

  8. ANZ & UNDP are changing lives • Regular savings habit, ‘money in the bank’ builds self-esteem, increases community pride • Savings can change people’s lives • $100 MicroLoan can start a business & change many lives • MicroLoans can lead to regular Small Business Loans People with financial control can plan their futures & make choices

  9. The Future… • UNDP & ANZ partnership extended • Redefine who are “bankable” • Development focus • Technology & product innovation • Cost to serve driven lower • Success will = competition in our newly created markets • 6million plus in the Pacific still unbanked – are they bankable?

  10. “A company needs to stand for something beyond making money and maximising returns for shareholders. Essentially it needs a higher purpose that says what it stands for and to serve a broader group of stakeholders (customers, suppliers, staff, community, governments as well as shareholders). This guiding purpose should become the guiding principle that governs all decisions within the firm”. ANZ CEO John McFarlane, May 2006

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