• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD
Summary: ANZ National Bank Ltd. Sep 10 Product Image

Summary: ANZ National Bank Ltd. Sep 10

  • ID: 2203546
  • September 2010
  • Standard & Poors

FEATURED COMPANIES

  • ANZ Bank New Zealand Ltd.
  • ASB Bank Ltd.
  • Bank of New Zealand
  • Westpac New Zealand Ltd.
  • MORE

Abstract
The counterparty credit ratings on New Zealand-based ANZ National Bank Ltd. (ANBL; AA/Stable/A-1+) reflect the bank's ownership by, and high level of integration with, its ultimate parent, the Australia and New Zealand Banking Group Ltd. (ANZ group; AA/Stable/A-1+). The ratings on ANBL are equalized with those on its parent because the bank is considered a "core" subsidiary of the ANZ group under Standard & Poor's Ratings Services' criteria for rating group entities. We consider ANBL's stand-alone credit profile to be strong, reflected in its strong market position and financial profile and underpinned by its leading market position, robust asset quality, and low-risk traditional retail and commercial banking model. However, ANBL's heavy reliance on wholesale funding and modest earnings relative to...

Companies mentioned in this report are:
- ANZ Bank New Zealand Ltd.
- Australia and New Zealand Banking Group Ltd.
- Bank of New Zealand
- ASB Bank Ltd.
- Westpac New Zealand Ltd.

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, READ MORE >

- ANZ Bank New Zealand Ltd.
- Australia and New Zealand Banking Group Ltd.
- Bank of New Zealand
- ASB Bank Ltd.
- Westpac New Zealand Ltd.

Note: Product cover images may vary from those shown

RELATED PRODUCTS