Half Yearly Report

Document date:  Wed 05 May 1999
Published:  Wed 05 May 1999 00:00:00
Document No:  148214
Document part:  E
Market Flag:  Y
Classification:  

HOMEX - Melbourne                                                     

+++++++++++++++++++++++++
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 
Half-year ended 31 March 1999 
Appendix 4B Half-yearly report

                                         Half-year        Half-year
                                            Mar-99           Mar-98
TOTAL ASSETS                                 $M                $M

Australia                                  99,557            88,729
New Zealand                                19,364            19,897
                                       -----------------------------
Principal domestic markets                118,921           108,626

UK and Europe                              10,229            16,684
Asia Pacific                                6,436             8,223
South Asia                                  5,083             4,366
Americas                                    4,080             5,692
International markets                      29,868            39,055
                                       -----------------------------
                                          148,789           147,681
                                       -----------------------------
RISK WEIGHTED ASSETS

Australia                                  78,700            70,878
New Zealand                                14,265            13,656
                                       -----------------------------
Principal domestic markets                 92,965            84,534

UK and Europe                               7,205            11,463
Asia Pacific                                5,878             6,397
South Asia                                  3,711             3,365
Americas                                    5,027             5,323
International markets                      25,659            29,708
                                       -----------------------------
                                          118,624           114,242
                                       -----------------------------

INDUSTRY                
Income (equity standardised)(1)          

Personal Financial Services                 2,696             2,707
Other                                          39                79
                                       -----------------------------
                                            5,517             5,869

Operating profit before tax 
(equity standardised)(1)

Personal Financial Services                   461               333
Corporate Financial Services                  274               217
International                                 218               285
Other                                          91                92
                                       -----------------------------
                                            1,044               927

Operating profit after tax 
(equity standardised)(1)

Personal Financial Services                   304               226
Corporate Financial Services                  206               168
International                                 140               178
Other                                          66                53
                                       -----------------------------
                                              716               625

TOTAL ASSETS

Personal Financial Services                60,878            53,427
Corporate Financial Services               52,361            50,942
International                              29,920            38,426
Other                                       5,630             4,886
                                       -----------------------------
                                          148,789           147,681

(1) Economic Value Added (EVA) principles are in use throughout the
Group, whereby risk adjusted capital is allocated and charged against
business units. Equity standardised profit is determined by
eliminating the impact of earnings on each business unit's book
capital and attributing earnings on the business unit's risk adjusted
capital. This enhances comparability of business unit performance.
Geographic results are not equity standardised.

                                                                                                   1