ANZ has on offer a wide range of financial related products and also services. The bank has a global presence. The bank has branches in Asia, United Kingdom, Europe, the Pacific region, and also in the United States. It is considered as one among world’s 100 largest banking organizations.
Global recession is said to be a period of time when global economy slows down considerably.
In the recent times, the world economy entered into recession since the year of 2008. Due to crisis occurring because of sub-prime scenario the trade of both goods and assets decreased throughout the world. Business cycle related correlation had increased during the sub-prime crisis. Due to this trade of goods as well as GDP relative financial openness also increased. But the needed change in allocation of this goods and trade was not properly correlated with the shifting of the business cycle synchronization. Due to this scenario through out the world the global economic has seen a severe decline and for this reason the world’s financial situation has been affected in almost every sector (Imbs, 2009).
ANZ National Bank in New Zealand has an omnipotent presence in the lives of people of the country. It has touched their lives through a wide range of scenario. It is one of the highest profit and asset making companies of the country. They have around 9,000 employees in the bank through out the country. The bank is a financial source for home loans. It also generates Gross Domestic Product (GDP) for the country’s economy. It has associated itself with charitable events and also other events of sponsorship (ANZ National Bank Limited, 2010).