annual report 2004 growth performance sustainability ANZ investor snapshot the year at a glance

[...]... performance and value at ANZ has meant the traditional concept of the leader at the top, which others follow, has had to disappear These days every person has to be a leader whether they are at the moment of contact with a customer or at the moment of a decision in their day-to-day role It is people who serve customers, create new ideas and make companies great So it is easy to understand why ANZ has placed... in Australia, the US Sarbanes Oxley Act and International Financial Reporting Standards A strong focus on corporate governance and transparency is not only an ethical and stewardship responsibility, it can give ANZ a strong advantage Nevertheless the trend toward greater regulation means the cost involved in complying with these regulations is now quite a significant item We estimate this additional... capital, and imputation credits (measured at 70% of Australian tax) Of these, the major component is the cost of capital, which at ANZ is calculated on ordinary capital at a rate of 11% We allocate economic capital to each business unit based on the unit’s inherent risk profile It is allocated for several risk categories including: credit risk, operating risk, interest rate risk, basis risk, mismatch risk,... involving the financial services industry such as financial literacy and savings, and programs which help our people engage with the community The acquisition of The National Bank of New Zealand has made us the leading bank in New Zealand and the clear number three Australian bank based on market capitalisation Our market capitalisation has increased from $27.3 billion in 2003 to $34.6 billion We have done... to shareholders in 2004. We acquired The National Bank of New Zealand making us the leading bank in New Zealand There was a successful $3.6 billion Rights Issue associated with the acquisition making us the number three bank in Australia based on market capitalisation And we produced another good financial performance New Directors Outlook During 2004, the Board appointed three new directors These appointments... organisation How people feel about working in the organisation and how passionate and engaged they are in its agenda, is what makes the difference between a good and a great company As leaders, one of our main responsibilities therefore is to create an environment of opportunity, challenge and development for our people That involves enhancing their capacity to produce and create, and to stimulate,... ambitious agenda on issues like financial literacy and savings through business-community partnerships We have created a very different bank at ANZ A bank that has a sustainable foundation, that is positioned for growth and one that I believe will continue to deliver value for shareholders over the short and the longer term Value for all Stakeholders I want to emphasise, however, that our aspiration recognises... release and focus the energy that without effective leadership would remain latent Details of Senior Management qualifications and experience can be found on www .anz. com/corporateinformation/ anzmanagement bob edgar elizabeth proust graham hodges mark lawrence shane freeman elmer funke kupper peter hawkins chief operating officer managing director esanda (seated) group managing director corporate chief... each other JA: This has been quite an unusual merger Normally one brand consumes the other’s name and operations but ANZ and The National Bank have such a large market share we’ve gone down a two-brand strategy path In fact, since the merger, the further we’ve gone the better it is working JA: In late 2003, after we announced the merger, many of us in the bank received feedback from customers saying:... and a way forward which has been communicated to all our people There’s a sense of excitement and urgency in the business now many of the distractions of integration are out of the way That’s the battleground JA: Our three competitive levers are price, speed to market and customer service That’s the battleground The National Bank has had a huge advantage in having a single customer view That’s a key . leaders of ANZ s customer divisions each discuss their division’s performance and priorities. 34 BUSINESS PERFORMANCE Details of the contribution made by each business to ANZ s 2004 performance. . SUPERIOR MARKET GROWTH cents $m $ anz& apos;s goal is to become australasia's leading, most respected and fastest growing major bank. 8 10 12 CHAIRMAN’S REPORT Charles Goode comments on ANZ s performance, . this report are provided. 87 DIRECTORS’ DECLARATION The Directors’ declaration on the Concise Financial Report. 88 AUDITORS’ REPORT The independent audit report on the Concise Financial Report. 40 THE ENVIRONMENT ANZ s