Huntleys' Stock of the Week

Recommendations: Buy

ANZ's current stock prices

Let's see a level playing field!

Investment Rating:

ANZ is a major Australian-based bank operating retail and business banking franchises throughout Australia, New Zealand and the South Pacific. ANZ's goal is to become Australasia's leading, most respected and fastest growing major bank. The strategy embraces distinctive customer service, delivered at low cost and low risk aiming at market leadership and superior market growth combined with sustainable shareholder value. Strategic expansion in Asia differentiates ANZ from its peers.

Event:

• The banks seem hell bent on restructuring the balance sheets of corporate Australia in the wake of the global financial crisis. Whether the Australian banks are being swept up in the outgoing tide - as overseas banks withdraw from the domestic market - or not is a moot point.

Impact:

• The banks should be mindful of what they are preaching and demanding - financial restraint and responsibility. If they are asking their clients to reign in debt and be more conservative with dividend policy then it is incumbent upon the boards of all banks to follow suit.

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