Financial Services in Australia and New Zealand-Truly World Class! Our Financial Institutions Are Delivering Outstanding Performances Relative to Their Global Peers. Key Factors Driving This Are Strong Economic Conditions and a Highly Skilled and Extremely Productive Workforce. (from the Chief Executive)

Unkles, John, Journal of Banking and Financial Services

Australia's economy and its financial services sector has shown spectacular growth in recent years, outperforming those of most of our Asia-Pacific neighbours and other western economies.

Across the Tasman, a similar picture has emerged with the New Zealand economy remaining buoyant despite the recent global economic slowdown and four out of five of New Zealand's major banks now Australian-owned.

Arguably, the stable and robust banking sector has contributed to--rather than just benefited from--these strong economic conditions.

Now the third largest sector of the Australian economy, the finance and insurance sector is also one of the fastest growing industry segments. With an average annual growth rate of 5.2 per cent in the five years to 2000-01, the sector outperformed …

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Publication information: Article title: Financial Services in Australia and New Zealand-Truly World Class! Our Financial Institutions Are Delivering Outstanding Performances Relative to Their Global Peers. Key Factors Driving This Are Strong Economic Conditions and a Highly Skilled and Extremely Productive Workforce. (from the Chief Executive). Contributors: Unkles, John - Author. Magazine title: Journal of Banking and Financial Services. Volume: 117. Issue: 1 Publication date: February 2003. Page number: 2. © Not available. COPYRIGHT 2003 Gale Group.

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