This paper discusses the financial and economic performance metrics of ANZ in terms of performance and business ratios. According to this paper, ANZ recently acquired The National Bank of New Zealand and its financial performance metrics reflect this in gross and net income figures. Because it demonstrates steady growth as well as strong acquisition choices, its credit rating should remain unchanged.
From the Paper:
"Many people often assume that because a bank is a financial institution it should automatically be measured vis-a-vis its purely financial performance. In fact, while financial ratios are extremely important in any enterprise, and especially so in a banking or financial enterprise, managers in this industry are still responsible for broad strategic decisions based not necessarily on financial measures alone; such as mergers and acquisitions (M&As). Nourayi and Daroca stipulate that some caution should be taken in completely relying on financial measures in judging the relative merit of a bank's performance: "Financial measures and the relationships used in performance assessment are typically designed to emphasize outcomes with little or no consideration for manager's decision processes..."(1996, para.6)."
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