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Preliminary Final Report/Media Release/Financial Statements

Document date:  Thu 25 Oct 2001
Published:  Thu 25 Oct 2001 10:47:35
Document No:  182866
Document part:  E
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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FINANCIAL HIGHLIGHTS

NET OPERATING RESULT

                                            HALF      FULL       FULL
                                            YEAR      YEAR       YEAR
                                          SEP 01    SEP 01     SEP 00
                                              $M        $M         $M

Net interest income                        1,954     3,833      3,801
Other operating income                     1,351     2,612      2,583
Abnormal income                                -         -      1,207
Operating income                           3,305     6,445      7,591
Operating expenses                        (1,571)   (3,131)   (3,314)
Abnormal expenses                              -         -      (986)
Profit before debt provision               1,734     3,314     3,291
Provision for doubtful debts                (290)     (531)     (502)
Profit before income tax                   1,444     2,783     2,789
Income tax expense                          (468)     (911)     (863)
Abnormal tax                                   -         -      (177)
Outside equity interests                      (1)       (2)       (2)
Net profit attributable to 
 members of the Company                      975     1,870     1,747

NET OPERATING RESULT RECONCILIATION

Continuing operations                        975     1,882     1,597
Net abnormals                                  -         -        44
Discontinued business                          -       (12)      106
Net profit attributable to
 members of the Company                      975     1,870     1,747

CONTINUING OPERATIONS

Net interest income                        1,945     3,804     3,464
Other operating income                     1,350     2,630     2,346
Operating income                           3,295     6,434     5,810
Operating expenses                        (1,569)   (3,128)   (3,024)
Profit before debt provision               1,726     3,306     2,786
Provision for doubtful debts                (283)     (516)     (440)
Profit before income tax                   1,443     2,790     2,346
Income tax expense                          (467)     (906)     (747)
Outside equity interests                      (1)       (2)       (2)
Continuing operations                        975     1,882     1,597
       
PERFORMANCE MEASUREMENTS

Profitability ratios
Return on:
Average ordinary shareholders' equity(1)    20.9%     20.2%     19.3%
Average assets                              1.11%     1.07%     1.05%
Average risk weighted assets                1.41%     1.39%     1.39%
Total income                                14.8%     13.6%     11.7%

Net interest average margin                 2.77%     2.77%     2.87%
Profit per average FTE($)                 42,575    82,667    62,783

Efficiency ratios(2)   
Operating expenses to operating income      47.3%     48.3%     56.5%
Operating expenses to operating income                        
 - continuing businesses                    47.4%     48.4%     51.8%
Operating expenses to average assets         1.8%      1.8%      2.6%

Debt provisioning
Economic loss provisioning ($M)              290       531       502
Net specific provisions ($M)                 339       520       383

Earnings per ordinary share (cents)
Earnings per ordinary share (basic)         61.6     117.4     106.8
Earnings per ordinary share (diluted)       60.9     116.3     106.3
                                                             
Ordinary share dividends (cents)
Interim - 100% franked (Mar 01:100% franked) N/A        33        29
Final - 100% franked (Sep 00: 100% franked)   40        40        35
Dividend payout ratio                       65.0%     62.0%     59.1%

Preference share dividend
Dividend paid ($M)                            60       119       102

(1) Ordinary shareholders' equity excluding outside equity interests 
(2) Exclude goodwill amortisation

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