Half Yearly Report/ASIC Half Yearly Accounts

Document date:  Thu 26 Apr 2001
Published:  Thu 26 Apr 2001 09:58:29
Document No:  175940
Document part:  C
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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MEDIA RELEASE 

ANZ EARNINGS PER SHARE UP 13% 
EARNINGS ON CONTINUING OPERATIONS UP 18%

Australia and New Zealand Banking Group Limited (ANZ) today announced
a record operating profit after tax of $895 million for the half year
ended March against $817 million for the same period last year, which
included Grindlays earnings prior to sale. Earnings from continuing
operations were $907 million against $771 million. Earnings per share
were up 13% to 55.8 cents.

RESULTS SUMMARY

* Profit after Tax on continuing operations $907 million up 18%

* Net Profit after Tax $895 million up 10%

* Earnings per ordinary share 55.8 cents up 13%

* Return on ordinary shareholders' equity 19.6% up from 17.8%

* Cost income ratio below 50% for the first time to 49.4% from 51.4%

* Credit quality sound:
  - Economic loss provision down to 35 basis points
  - Total non-accrual loans down
  - Net specific provisions flat

 * Profit on sale of stake in St George $65 million after tax offset
by $84 million write-downs in investments

* Market leading disclosure - results provided for each business unit

* Interim dividend 33 cents, up 4 cents with 100% franking

Note: Comparisons are against half year ended March 2000

ANZ Chairman, Mr Charles Goode said: "This is another good result for
ANZ shareholders. The results of three years of hard work at ANZ have
created a stronger company well positioned to continue to deliver on
its commitments to shareholders, customers and the community in a
less certain economic environment. Management and staff are to be
congratulated on their achievements."

For media enquiries, contact:
            
Paul Edwards                                       
HEAD OF GROUP MEDIA RELATIONS                     
Tel 03-9273 6955 or 0409-655 550 (mobile)          
Email: edwardp12@anz.com                        

For analyst enquiries, contact:

Philip Gentry
HEAD OF INVESTOR RELATIONS
Tel: 03-9273 4185 or 0411-125 474
Email: gentryp@anz.com
ANZ's 2001 Interim Results are available on www.anz.com

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