(9 September 2013 – Australia) Australia’s ANZ Banking Group has achieved a significant penetration of Asia’s foreign exchange markets as a provider of Options and FX Forwards to Small and Medium Sized Enterprises (SME), according to the latest research from industry analysts East & Partners.
East’s inaugural Asian Business FX Markets report interviewed 1,400 businesses across Hong Kong, Singapore, the Philippines and Malaysia in August from two market segments: Micro Businesses with US$1-5 million turnover and SME’s turning over US$5-20 million.
The research found that ANZ, despite its perceived focus on trade finance and larger institutional businesses, was ranked fourth for market share in Options and fifth in Forward FX out of eleven global and regional banks and specialist providers.
The bank’s best performance was to win 7.1 percent of regional Forward FX market share as a primary provider. In this category, HSBC is the market leader with a 22.8 percent share.
ANZ also enjoys market leading customer satisfaction levels in both products, and also performs well in wallet share, the percentage of a customer’s total business it wins in each product category.
In FX options, for example, ANZ customers do 71.1 percent of their options business with the bank, against a market average of 58.3 percent.
In Forward FX, ANZ is ranked first, winning 66.2 percent of the wallets of its primary customers.
The results for Forwards and Options are achieved despite lower market share figures in Spot FX, and the fact that the bank does not register as a Spot FX provider in the Philippines.
Lachlan Colquhoun, Head of Markets Analysis for East & Partners, said the results were encouraging for ANZ, and showed that the excellence of its specialist FX products was being recognised by the market.
“ANZ’s regional strategy is well known, but it is interesting that while the bank is best known as a provider to larger businesses we see that Micro and SME enterprises are also engaging,” said Colquhoun.
“This is the first report in East’s Asian BFX program and we will soon see if the momentum for ANZ’s FX business in the region continues.”
Forward FX Wallet Share
|
Average % of Business per Primary Relationship Aug 2013 |
|
| ANZ | 66.2 |
| Standard Chartered | 61.3 |
| DBS | 54.4 |
| Deutsche | 51.2 |
| HSBC | 50.2 |
Source: East & Partners Asian Business FX Markets report – August 2013
About the Asian Business FX report
The Asian Business FX Markets report measures primary and secondary market shares together with mind and wallet shares across the spectrum of FX products for Asia’s lower corporate and SME segments (annual turnover US$1m-US$20m). Surveying 350 enterprises in each market, naturally distributed across industries, the report delivers detailed insight into FX product usage enabling subscribers to target their business appropriately.
For more information or to interview East & Partners, please contact:
Sian Dowling
Marcomms & Client Services
East & Partners
t: +61-2-9004 7848
m: + 61-420 583 553
e: sian.d@eastandpartners.com