History of ANZ

ANZ is among the top 4 banks in Australia, the largest banking group in New Zealand and Pacific, and among the top 100 banks in the world by market capitalisation.

ANZ world headquarters are located in Melbourne. Our history dates bank to 1828, with the opening of the Cornwall Bank in Launceston and has involved many different banks since then.

On 31 March 1828, a public meeting was held in Launceston, Van Diemen's Land. At this meeting residents decided to establish the Cornwall Bank, due to the reluctance of Hobart banks to service the area.

A few years later in 1835 George Kinnear, a young Scottish entrepreneur, embarked on a six month voyage from London to Australia to establish the first branch of the Bank of Australasia in Sydney.

The Bank of Australasia identified Tasmania as a key location for its next branches, and when news of this broke Cornwall Bank sought to be acquired by the new bank. On 1 January 1836, the Bank of Australasia opened a branch in Launceston in the former Cornwall Bank premises, as well as one in Hobart.

Nearly 200 years later, ANZ has become one of the world's most enduring and successful banks.

ANZ has transformed itself many times over, moved hemispheres, merged with 15 other banks, bought and sold assets and built its business with its customers.

In that time, ANZ's people have worked hard to create an enduring, growing and innovative bank, one which has stood the test of time.

In its early years Australia was riding the sheep's back as wool became its main export industry. A rapid increase in the number of banks meant credit was easy to come by. However farming on this scale was new, many banks didn't understand the economic cycle and there was little regulation. When commodity and land prices started to collapse, banks began to fail.

Despite this, The Bank of Australasia, not only remained open but managed to prosper. Indeed, ANZ survived some of the darkest and most difficult times with its doors remaining open through depressions, through wars, through floods and through fire.

Fast-forward a century to 1951 and The Bank of Australasia joined with Union Bank of Australia to form ANZ Bank. ANZ in turn merged in 1970 with English, Scottish and Australian Bank to become Australia and New Zealand Banking Group Limited – the largest merger in Australian banking history at the time.

Timeline

2023

• Implemented Scheme of arrangement to establish ANZ Group Holdings Limited as the new listed parent company of the ANZ group.
• Completed the sale of ANZ Share Investing to CMC Markets and Investment Lending Portfolio to Leveraged Equities in March 2023

2022

• Shareholders voted in favour of a scheme of arrangement to establish ANZ Group Holdings Limited (ANZ Non-operating Holding Company) as the new listed parent company of the ANZ group and to separate ANZ's banking and certain non-banking businesses into two groups
• Announced an agreement to acquire Suncorp Bank from Suncorp Group Limited
• Announced an agreement to sell a portfolio of commercial and mortgage loans in Guam to Bank of Guam
• Launched ANZ Plus, a new digital banking service built on a new banking platform. Initial release included an everyday account with no monthly account fees, a multi-goal savings account, a new banking app, and features to help people better understand their money and save towards goals
• Announced an agreement to divest ANZ Share Investment Lending portfolio to Leveraged Equities

2021

• Announced an agreement to transition ANZ Share Investing customers to CMC Markets branded platform
• Established 1835i, and separated ANZi ventures and incubator business from ANZ to this standalone entity, to help accelerate growth and deliver new digital solutions for ANZ customers

2020

• Completed sale of OnePath Pensions and Investments business to IOOF Holdings Limited
• Completed the sale of UDC Finance in New Zealand to Shinsei Bank Limited
• Became the first bank to issue Sustainable Development Goal Bond in Australia
• Entered joint-venture with Worldline to provide leading payments technology and merchant services in Australia

2019

• Celebrated 50 years of operations in Japan
• Completed sale of OnePath life insurance business to Zurich Financial Services Australia
• Completed the sale of Retail, Commercial and Small-Medium Sized Enterprise (SME) banking businesses in Papua New Guinea to Kina Bank completed
• Completed the sale of 55% stake in Cambodian JV ANZ Royal Bank to J Trust

2018

• Received approval for a securities license in Japan from the Financial Services Agency, further strengthening our Institutional business in Japan.
• Launched and priced ANZ’s first Sustainable Development Goals (SDG) bond in the European wholesale debt capital markets
• Announced the sale of OnePath Life NZ Ltd to Cigna Corporation
• Completed the sale of retail and wealth businesses in Indonesia, China, Hong Kong, Taiwan and Singapore to DBS Bank.

2017

• Began to transition teams to New Ways of Working – based on agile practices with the aim to deliver greater value, faster for customers and making ANZ a better place to work.
• Sold stake in Metrobank Card Corporation
• Completed the sale of retail business in Vietnam to Shinhan Bank
• Completed the sale of 20% stake in Shanghai Rural Commercial Bank
• Acquired local startup REALas to help bolster digital offering in Australia’s property market
• First Australian bank to roll out Voice ID for mobile banking

2016

• Launched ANZ mobile payments app giving customers the ability to tap their phone for purchases and cash withdrawals
• First major Australian bank to offer Android Pay in Australia (contactless payments via smart phone Android devices)
• First major Australian bank to offer Apple Pay in Australia (contactless payments via Apple iphone and Apple Watch)
• Established collaboration with Honcho by Business Switch, an online platform offering customers the opportunity to set up their small business in one day, along with tools to help their business grow

2015

• Appointed Shayne Elliott as Chief Executive Officer
• Became a Foundation Partner of Australia’s first fintech hub, Stone and Chalk
• Acquired Shout for Good to enable online charity donations
• Issued ANZ’s first green bond to support the transition to a lower-carbon economy
• Opened Paris branch to support French companies operating in the Asia/Pacific region
• Became first Australian bank to offer contactless acceptance for UnionPay International Cards
• Received Myanmar banking license approval
• Sold Esanda Dealer Finance portfolio to Macquarie

2014

• Launched ANZ Grow app, Australia’s first digital wealth and banking app and first Grow Centre in Sydney.
• First Australian bank to open in the Shanghai Free Trade Zone.
• Partnered with the Australian Government to expand mobile banking and financial literacy in the Solomon Islands.
• One of the first international banks to be awarded Myanmar banking licence.
• First bank worldwide to introduce EMV secure ‘Tap & PIN’ ATM technology to reduce skimming.  

2013

• Established new branch in Hangzhou, the capital and the largest city of Zhejiang Province in Eastern China
• Launched ANZ goMoney mobile banking app in the Pacific
• Received approval from The People's Bank of China to act as a market maker for AUD-CNY direct trading on the China Foreign Exchange Trading System.

2012

• Received Retail Renminbi (RMB) license from the China Banking Regulatory Commission, becoming the first Australian bank to receive this licence in China
• Opened a branch office in Labuan International Business & Financial Centre in Malaysia, for institutional and corporate customers
• Brought together the ANZ and The National Bank brands in New Zealand and completed a major program move to a single technology platform.
• Received approval to open a representative office in Myanmar.

2011

• Received approval to be a member of the Shanghai Futures Exchange, becoming the second foreign bank in China authorised to trade gold futures
• Commenced banking operations in India with the opening of first ANZ branch in Mumbai
• Opened new operations hub in Chengdu, China

2010

• Increased investment in China’s Bank of Tianjin and Shanghai Rural Commercial Bank
• Received foreign bank licence in-principle approval in India
• Launched GoMoney mobile banking app
• ANZ’s locally incorporated bank commenced operation in China
• OnePath™ replaces ING as the name and brand for ANZ’s specialist funds management and life insurance businesses in Australia and New Zealand
• Completed acquisition of the Royal Bank of Scotland retail, wealth, private banking and commercial businesses in Indonesia, Singapore, and Hong Kong
• Received licence allowing ANZ to operate as a full bank in Singapore
• Completed acquisition of the Landmark Financial Services loan and deposit books from AWB Group
• Opened new operations hub in Manila, the Philippines

2009

• Completed the sale of our Custodian Services business in Australia and New Zealand to J.P. Morgan
• Completed acquisition of Royal Bank of Scotland Group business in The Philippines and Vietnam
• Opened our first rural bank in western China making ANZ the first Australian bank, and one of the first international banks, to enter China’s rural market
• Opened new Beijing branch office in China Central Place (CCP) in Chaoyang District
• Completed acquisition of ING Group’s 51% shareholding in the ANZ-ING wealth management, life insurance and advice joint ventures in Australia and New Zealand
• Officially opened new global headquarters in Melbourne’s Docklands precinct

2008

• Received licence for incorporation in Vietnam
• Launched mobile phone banking and banking for iPhone
• Launched ANZ Transactive, a web-based cash management platform for institutional, corporate and business banking clients
• Opens new regional hub office in Hong Kong for business expansion throughout Asia
• Obtained trading membership from the Shanghai Gold Exchange, making it one of only four foreign banks permitted to trade gold in the China market

2007

• Appointed Mike Smith as Chief Executive Officer
• Achieved leading global bank ranking in Dow Jones Sustainability Index
• Finalised acquisition of E*TRADE Australia
• Completes investment in Malaysia's AMMB Holdings Berhad, China's Shanghai Rural Commercial Bank, Vietnam's Saigon Securities Incorporation and ANZ Vientiane Commercial Bank, Laos.

2006

• Completed 20% investment in China's Tianjin City Commercial Bank
• Achieves Top 3 ranking on Corporate Responsibility Index.

2005

• Launched strategic alliance with Sacombank, Vietnam
• Opens representative office in Noumea, New Caledonia.

2004

• Announced agreement with Royal Group to establish joint venture bank in Cambodia.

2003

• Acquired National Bank of New Zealand from Lloyds TSB
• Formalised cooperation agreement with Shanghai Rural Credit Cooperatives Union
• Entered credit card joint venture with Metrobank, Philippines
• Released Australia's first survey of adult financial literacy.

2002

• Formed joint venture with ING Group for funds management and life insurance business in Australia and New Zealand
• One millionth customer registers for ANZ Internet Banking in Australia
• Acquired Bank of Hawaii operations in Fiji, Vanuatu and Papua New Guinea.

2001

• Acquired 75% of Bank of Kiribati
• ANZ Timor Leste opens.

2000

• Sold Grindlays businesses in the Middle East and South Asia, and associated Grindlays Private Banking business to Standard Chartered
• Granted local currency (Renminbi) licence from the People's Bank of China.

1999

• ANZ Internet Banking launched
• Announced strategic alliance with E*Trade Australia for online share trading service
• Purchased Amerika Samoa Bank.

1998

• Acquired stake in PT Panin Bank, Indonesia.

1997

• ANZ Phone Banking launched
• Official opening of Beijing branch, China
• Bank of Western Samoa changes its name to ANZ Bank (Samoa).

1996

• www.anz.com  launched
• Opened second Vietnamese branch at Ho Chi Minh City.

1995

• Opened a commercial banking branch in Manila, Philippines, the first Australian and New Zealand bank to do so.

1993

• Joint venture established with PT Panin Bank, Indonesia
• Opened a branch in Hanoi and a representative office in Ho Chi Minh City, Vietnam
• Opened a branch in Shanghai and a representative office in Guangzhou, China
• Started operations in Tonga.

1991

• Acquired 75 per cent of Bank of Western Samoa
• Opened representative office in the Philippines.

1990

• Acquired National Mutual Royal Bank Limited
• Acquired Lloyds' operations in Papua New Guinea
• Acquired Bank of New Zealand's operations in Fiji
• Acquired Town and Country Building Society in Western Australia.

1989

• Purchased PostBank from New Zealand Government.

1988

• Opened branch in Rarotonga, Cook Islands
• Opened branch office in Paris, France.

1985

• Acquired Barclays' operations in Fiji and Vanuatu
• Received full commercial banking licence and opens branch in Frankfurt, Germany
• Announced ANZ Singapore Limited
• Opened representative office in Bangkok, Thailand.

1984

• Purchased Grindlays Bank.

1980

• Singapore and New York representative offices upgraded to branch status.

1979

• Acquired the Bank of Adelaide.

1977

• ANZ incorporated in Australia (transfer from UK).

1976

• NZ (PNG) established.

1971

• Opened representative office in Malaysia.

1970

• In what was then the largest merger in Australian banking history, ANZ Bank merged with the English, Scottish and Australian Bank Limited to form the present organisation, Australia and New Zealand Banking Group Limited
• Started operations in Vanuatu.

1969

• Established representative office in Tokyo, Japan.

1968

• Opened office in New York, USA.

1966

• Started operations in Honiara, Solomon Islands.

1951

• The Bank of Australasia merged with the Union Bank of Australia to form ANZ Bank.

1852

• The English, Scottish and Australian Bank established.

1837

• The Union Bank of Australia was established.

1836

• On 1 January, the Bank of Australasia opened a branch in Launceston in the former Cornwall Bank premises, in addition to a branch in Hobart.

1835

• The Bank of Australasia was established in London by Royal charter and opened its first branch in Sydney on 14 December.
• The Bank of Australasia announced it would open its next branches in Tasmania and the Cornwall Bank actively sought to be acquired by the new bank.

1828

• The Cornwall Bank was established in Launceston by residents following reluctance of Hobart Town banks to open in their community. The bank opened for business on 1 May.