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Preliminary Final Report/Media Release/Financial Statements

Document date:  Thu 25 Oct 2001
Published:  Thu 25 Oct 2001 13:16:16
Document No:  182866
Document part:  S
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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CHIEF FINANCIAL OFFICER'S REVIEW (continued)

GEOGRAPHIC SEGMENT - OVERSEAS MARKETS

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

Net interest income                          227     446     701
Fee income                                   118     228     319
Other operating income                        47      55     195 
Operating income                             392     729   1,215
Operating expenses                          (203)   (400)   (638) 
Profit before debt provision                 189     329     577
Provision for doubtful debts                 (38)    (83)   (118) 
Income tax expense                           (53)    (82)   (195)
Outside equity interests                      (1)     (2)     (2)
Net profit after income tax before abnormal   97     162     262  
 items
Net prior period abnormal profit               -       -     (96)
Net profit attributable to members of the
 Company                                      97     162     166
Ratios exclude abnormal items
Net interest average margin                 1.27%   1.31%   2.06% 
Return on risk weighted assets              0.77%   0.67%   1.04%
Operating expenses to operating income      51.8%   54.7%   52.5%
Operating expenses to average assets        1.04%   1.05%   1.72%
Net specific provision                        10       4     103
Net specific provision as a % of average    0.13%   0.03%   0.61%  
 net advances                                
Net non-accrual loans                        230     230     273
net non-accrual loans as a % of net         1.44%   1.44%   1.97%
 advances
Total employees                            2,666   2,666   2,646
Lending growth (including FX impact)        (4.4%)  15.2%  (15.4%)
lending growth (excluding FX impact)        (5.6%)   4.8%  (24.5%) 
Total assets                               30,121 30,121  24,807 
Risk weighted assets                       25,746 25,746  22,301

Profit after tax in Overseas Markets increased by 49% to $97 million 
in the second half. The March 2001 half year results were adversely 
impacted by the loss from the discontinued joint venture with OCBC and
the write-down of the investments in Panin, partially offset by a 
dividend received from Panin and other one off income items.

The main influences on the result were:

* net interest income increased 4% ($8 million ) primarily in Asia 
and the UK

* fee income increased 7% ($8 million) through strong growth in 
investment bank products in the Americas and Singapore

* operating expenses increased by 3% ($6 million), mainly due to 
Pacific acquisitions ($4 million)

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