ANZ Australia history

In contrast, the Asia and the Union were immediately successful—the Asia quadrupled its loans between 1836 and the end of the decade.

They founded the Union, which took over the Tamar Bank and opened for business in 1837.

1838: The Union becomes the first bank to do business in New Zealand.

During this period both the Asia and the Union consolidated their positions and built up businesses secure enough to withstand the severe depression that began in late 1841.

With the discovery of copper and lead deposits north of Adelaide in 1844, the colonies began moving out of the depression.

Only six of these colonial banks reached the end of the century without temporary or final failure, and of the eight private trading banks that existed in 1850, only the Asia, the Union, and three others survived.

In the 35 years after 1853, 28 colonial banks began operations in Australia.

Between 1900 and the outbreak of World War I, the Asia opened 73 branches and the Union opened 100.

After much debate and discussion, the Commonwealth Bank opened in January, 1913.

In 1946 lawyers began work on the details of a merger in which the Asia took over the business of the Union.

A savings bank subsidiary, which could use existing skills and facilities and be funded within the governments’ constraints, was established in 1955.

1979: The Bank of Adelaide is acquired.

In 1981 ANZ talked to the Commercial Banking Company of Sydney and then the Commercial Bank of Australia about merging, but neither deal worked out.

1984: U.K.-based Grindlays Bank is acquired.

ANZ was allowed to acquire National Mutual Royal Bank Limited, a joint banking venture between National Mutual and the Royal Bank of Canada that was formed in 1986 and had assets of A$4.5 billion.

During 1992, a new management team was put in charge of turning around the group's fortunes: John Gough took over as chairman from Milton Bridgland, and Don Mercer succeeded Will Bailey as chief executive.

1993: ANZ purchases an 85 percent interest in an Indonesian joint venture bank that is later renamed PT ANZ Panin Bank.

By 1994 ANZ was the largest foreign bank in south Asia, and 10 percent of the bank's total profits were being generated through its Asia-Pacific network.

Meanwhile, in August 1995, Gough was replaced as chairman by Charles Goode, who was also chairman of Woodside Petroleum Ltd.

Another change to its overseas network came in 1996 when the domicile of Grindlays Bank was moved from England to Australia, and the subsidiary was renamed ANZ Grindlays Bank Limited.

By early 1999 conditions in Asian markets had improved enough to permit a cautious return to expansion, and ANZ Panin Bank bought the credit card operations of PT Papan Sejahtera, an Indonesian bank that had fallen into receivership.

Late in 2001, for example, the bank bolstered its Asia-Pacific retail banking unit through the purchase of the Bank of Hawaii's operations in Papua New Guinea, Vanuatu, and Fiji for about A$100 million.

2002: ANZ and ING Group form ING Australia Limited, a funds management and life insurance joint venture operating in Australia and New Zealand.

Ranked the most sustainable bank globally in the 2013 Dow Jones Sustainability Index for the sixth time in seven years