ANZ Financial Performance Overview
SECTION 5
Market leader: Asset Finance continues to prosper growing 23% in 2003
Asset Finance has continued its momentum, with NPAT growth of 23%
in 2003. This strong performance is largely attributable to three key
factors:
• Cultural transformation and a continued commitment to
increasing staff satisfaction, which has lead to an improvement
in partner satisfaction (79%) and customer satisfaction (80%).
Process re-design leading to improved efficiency within the
group. The cost to income ratio has fallen from 43.5% to 42%
since March 2002, and average processing cost per contract has
fallen 25%.
90%
80%
A significant cultural transformation
Staff Advocacy
70%
60%
Motor vehicle sales are at a 5 year high creating a favorable
environment for new business writings. Likewise SMB
financing (mostly equipment) has been growing strongly as
businesses re-equip providing excellent support for extending
our market leading position.
50%
1999
2000
2001
2002
2003
Asset Finance's strong market position is emphasised by its growth in
motor vehicle and equipment finance of 18% and 26% respectively
against estimated system growth of 10% and 15%-20% respectively
for the 2003 year.
% yearly
change
15
10
10
5
0
-5
-10
-15
Delivering the benefits of re-design
Greater efficiency - cost per contract decreased
25% over 2 years
Index
120
Australian motor
vehicle sales
% yearly
change
SMB annual
lending growth
100
14
80
12
60
10
8
40
40
6
4
2
0
99
99
00
01
40
02
22
03
30
20
0
1H02
1H02
1H03
2H03
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