The world economic situation continues to pose challenges with uncertainty ruling the markets but organisations that are well prepared with sound business strategies and financial management will continue to grow, a banker has said.
According to Ramesh Subramaniam, Head of South Asia at ANZ Bank, the Reserve Bank of New Zealand has left the Official Rate (OCR) untouched at 2.5% because of a high New Zealand Dollar, global concerns and inflation risks.
“In spite of the global turmoil, ANZ is well capitalised, with low reliance on the offshore markets and no direct exposure to sovereign debt of European nations,” he said.
Mr Subramaniam is a part of a specialist International Banking Services team at the Bank, looking after pre-arrival banking enquiries and account opening for new migrants and students from India and other South East Asian countries.
The team works closely with companies, public institutions and migration agents to help new migrants and students settle into their new environment quickly.
Mr Subramaniam said that apart from offering a complete suite of accounts and services, ANZ has several initiatives to help meet the needs of businesses and individuals.
“Through the ANZ Biz Hub tool for example, New Zealand businesses can register for free workshops on a wide range of business topics, obtain hands-on training in key business areas, access planning tools as well as network with other business owners.
“ANZ continues to support its customers through its ‘First Home Buyer’ seminars and ‘Farm Startup Package’ for farmers,” he said.
Mr Subramaniam said that his Bank has built a good record in meeting the needs of South Asian communities through sponsorships and financial services.
“We have been a proud sponsor of major festivals such as Diwali, Holi and other events within South Asian communities for many years and have long-standing relationships with community associations. We also have many staff members in our branches and divisions across New Zealand who speak several South Asian languages, which helps us better connect with the community,” he said.
Meeting business needs
ANZ is well positioned to support its South Asian business owners to do business in Asia Pacific region and beyond, he added.
Born and raised in Singapore, Mr Subramaniam obtained his graduate and postgraduate degrees (Mathematics and Engineering) from UK and US respectively and worked in investment banking Singapore, Jakarta and Bangkok.
Migrating to New Zealand about 15 years ago, he worked in senior analytical roles in the private equity and telecommunications industries. He joined ANZ in 2008, promoting a wide range of services to institutional and individual customers.
Accuracy and precision are the attributes of mathematicians and engineers, which Mr Subramaniam said was useful in his job as a foreign exchange trader in Singapore, leading to his career with ANZ.
“I have always adopted a customer-centric approach, which I believe is key to understanding the banking requirements of migrants in general and the Indian community in particular to provide them services tailored to their needs. This goes a long way in improving customer relationships and acquiring new customers,” he said.
Mr Subramaniam said he was keen to develop a South Asian international banking strategy with better market analysis and communications.