ANZ aims high and wide in Asia
The soaring ambitions of ANZ for its Asian expansion have been showcased on a second day of a regional tour for the investment set.While not articulated clearly in the presentation pack, one sub-text seems to be there is no reason ANZ might not one day rank as a clear foreign bank leader in Asia, alongside the likes of Mizuho, Citi, HSBC and Standard Chartered, JP Morgan and Deutsche as a banking force in the region.It's clearly aiming to be seen as a substitute for them, a comparison that will only highlight the specialist expertise that ANZ lacks.This may introduce acquisition risks into the ANZ story. The bank needs to plug gaps in wealth management and related fields, for instance.On the other hand many may fancy ANZ as the target. Its lengthening customer lists in an attractive region would be the target.A blizzard of metrics emphasised a common story at ANZ Asia in different market segments. There was talk of improving margins, increased market penetration and lower costs.Lower risk was an important theme from the first day, a outcome at odds with early assumptions by cynics on ANZ's risks from its seven-year old super regional plan.The bank cited BCG analysis for a projection of "almost 50 per cent of growth in banking revenue pools" concentrated in Asia over the five years to 2017.Lifting the share of wallet in consumer banking may be a challenge, with the bank citing data on the habit of people sharing bank products among four or five providers.It is making inroads in targeted institutional segments, with energy and finance sectors singled out for study.The bank's staffing profile is changing, with more than one third of operations staff for the international bank located outside Australia, up from a fifth three years ago.The main theme of the tour may be the sense of endeavour in the business.ANZ's balance sheet commitment to Asia will have to match its ambitions, maybe taking ANZ past 50 per cent in Asia, and quickly, if the growth story proves true.