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Business

Bank highlights year’s achievements

December 25
12:00 2010

image Written By : SHIRI LATA. ANZ has made great progress in 2010.
Chief executive officer Fiji, Norman Wilson said, “Our market share for the financial year 2009-2010 for loans and advances including foreign currency lending remains at a healthy 46.5 per cent while our market share for deposits remains at just above 41 per cent.
While their market share remains steady proportionately, on a consolidated balance sheet level for all banks for Fiji dollar borrowings and advances, ANZ has contributed $66million of the $174m growth in deposits.
This made up 38 per cent contribution to total Fiji growth and $78.7m of the $86.6m growth in loans and advances (91 per cent contribution to total Fiji growth) for the period September 2009 to September 2010.
Mr Wilson said, “Overall, the total Fiji deposit market grew by 5.6 per cent while ANZ deposits grew by 5.3 per cent and the total Fiji lending market grew by 3.1 per cent while ANZ’s lending increased by 6.5 per cent or more than double.
“The statistics show that ANZ is demonstrating its commitment to Fiji by continuing to provide funding for its customers for the growth and sustainability of their businesses even in challenging times.
“We’re currently investigating how we can use technology to help more people access banking services at a low cost – that might include the use of mobile phones.
“We’re also looking into how we can make sending money back to the Pacific through remittances can be easier and cheaper for people,” he said.
Trying to stay ahead of their competitors, however, he said, would require them to manage things differently in 2011.
“In an environment of lower credit growth and a higher cost of doing business, we must keep our focus firmly on our customers and work together as one bank across our region to unlock the potential of our super regional plans.
“This means, respecting our customers and the community in the commercial decisions we make, supporting one another, sharing ideas and collaborating across ANZ and pursuing excellence in everything we do.”
“Individually, our staff have donated their time this year, contributing more than 2,300 hours of volunteering in the community,” he said.
This year ANZ launched its integrated Rural Banking and Microfinance service, which allows customers with small scale businesses to apply for loans to improve their livelihood.
ANZ continues to provide Rural Banking services in Fiji, with six teams serving a total of 471 communities and schools.

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