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Preliminary Final Report/Media Release/Financial Statements

Document date:  Thu 25 Oct 2001
Published:  Thu 25 Oct 2001 09:24:43
Document No:  182866
Document part:  D
Market Flag:  Y
Classification:  Preliminary Final Report , Full Year Accounts , Dividend Record Date , Dividend Pay Date , Dividend Rate

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2001-10-25  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
        
CONSOLIDATED FINANCIAL REPORT AND DIVIDEND ANNOUNCEMENT
YEAR ENDED 30 SEPTEMBER 2001

All amounts are in Australian dollars unless otherwise stated.  The 
information on which this announcement is based is in the process of 
being audited by the Group's auditors KPMG. The Company has a 
formally constituted Audit Committee of the Board of Directors. This 
report was approved by resolution of a Committee of the Board of 
Directors on 25 October 2001.

HIGHLIGHTS

CHIEF EXECUTIVE OFFICER
JOHN MCFARLANE

NET OPERATING RESULT FOR YEAR ENDED 30 SEPTEMBER 2001

* Operating profit after tax $1,870 million up 7% (18% growth in 
continuing businesses)

* Earnings per ordinary share up 10% to 117.4 cents

* Return on ordinary shareholders' equity 20.2%, achieving target of 
above 20% 

* Full year dividend 73 cents per share, fully franked, compared with 
previous periods 64 cents (2000) and 56 cents (1999)

* Cost to income ratio down to 48.3%

* Provisioning levels increased in the second half, broadly 
within expectations:
  - Net specific provisions $520 million, up from $383 million in 
    2000.
  - Increase in economic loss provision
  - Net non-accruals $770 million, up from $699 million in 2000; 
    gross non-accruals $1,260 million down from $1,391 million

* Grindlays sale (31 July 2000) significantly reduced exposure to 
Middle East, South Asia 

NET OPERATING RESULT FOR HALF YEAR ENDED 30 SEPTEMBER 2001

* Operating profit after tax up 9% to $975 million (7% growth in 
continuing businesses)

* Return on ordinary shareholders' equity 20.9%

* Operating income up 5%; non interest income up 7%

* Operating expenses increase contained at 1%

* Cost to income ratio 47.3% down from 49.4%

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