If ANZ does become a super-regional bank, an Asian heavyweight with a core franchise in Australia, then one bit of it’s going to look mighty top-heavy: New Zealand, which generally accounts for 20% to 25% of group lending and deposits. “They are way, way too big in New Zealand,” says Brian Johnson at CLSA.
Asked if ANZ is too big in New Zealand, Mike Smith says: “Would you want to be the biggest bank in New Zealand or the biggest bank in China? It’s quite an easy answer I suppose.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
