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Half Yearly Report/ASIC Half Yearly Accounts

Document date:  Thu 26 Apr 2001
Published:  Thu 26 Apr 2001 09:37:02
Document No:  175940
Document part:  E
Market Flag:  Y
Classification:  Half Yearly Report , Half Year Audit Review , Half Year Directors' Statement , Half Year Accounts , Dividend Record Date , Dividend Pay Date , Dividend Rate , Other

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2001-04-26  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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HIGHLIGHTS

CONTINUING OPERATIONS

* Operating profit after tax up 18% to $907 million

* Total income up 10%; non interest income up 11%

* Gain on sale of St George investment offset by writedown of
investments including Panin and E*Trade

* Operating expenses steady after adjusting for GST and acquisitions

* Cost income 49.4% down 3% and below 50% for the first time

NET OPERATING RESULT

* Operating profit after tax $895 million up 10%

* Earnings per ordinary share up 13% to 55.8 cents

* Return on ordinary shareholders' equity 19.6%

* Interim dividend 33 cents per share, fully franked, compared with
previous periods 35 cents (Sep 00) and 29 cents (Mar 00)

* Credit quality sound

- ELP charge down to 35 basis points
- total non-accruals down 
- net specific provision flat

Comparisons are against half year ended March 2000

Continuing operations exclude prior year abnormals and the results of
our discontinued operations (principally Grindlays)

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