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Half Yearly Report/ASIC accounts

Document date:  Fri 26 Apr 2002
Published:  Fri 26 Apr 2002 10:04:14
Document No:  189561
Document part:  A
Market Flag:  Y
Classification:  Half Yearly Report , Half Year Audit Review , Half Year Directors' Statement , Half Year Accounts , Dividend Rate

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2002-04-26  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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MEDIA RELEASE

ANZ INTERIM EARNINGS UP 17.3%

Australia and New Zealand Banking Group Limited (ANZ) today announced
a record operating profit after tax of $1,050 million for the half
year ended March 2002 against $895 million for the same period last
year. Earnings per share were up 18.8% to 66.3 cents.

* Profit after Tax $1,050 million from $895 million - up 17.3%
* Earnings per ordinary share 66.3 cents from 55.8 cents - up 18.8%
* Interim dividend 39 cents fully franked from 33 cents - up 18.2%
* Return on equity 21.6% from 19.6%

ANZ Chairman, Mr Charles Goode said: "This is a good result in a
challenging environment. The consistency of our performance is the
result of continued hard work in strategically repositioning ANZ and
in building a high performance organisation".

"We have achieved good earnings growth and a high return on equity
that has remained above 20%. We ended the half well on track against
our public financial targets and with a strong financial and capital
position. Management and staff are to be congratulated," Mr Goode
said.

ANZ Chief Executive Officer, Mr John McFarlane said: "We have
embraced a unique strategy that is creating a very different bank. We
are successfully reshaping our business portfolio, improving
performance, reducing risk, and creating a vibrant culture inside the
Bank".

"In contrast to the previous cycle, we are also demonstrating a
capacity to perform well in more difficult economic circumstances and
in an environment of major corporate collapses and higher global
risk.

"We continue to face the challenge of achieving real balance between
the interests of shareholders, staff, customers and the community. It
is no longer about promises. It is about urgent and tangible action
that demonstrates we put customers first, that we lead and inspire
our people, and that we are worthy of the community's trust, while
meeting shareholders' expectations.

"This is an enormous task. We know we have much still to do, but we
have made substantive progress in each of these areas. We are now
intent in doing what is necessary to finish the job. Only then can we
stand up and be truly proud of our achievements," Mr McFarlane said.

For media enquiries, contact:      For analyst enquiries, contact: 
Paul Edwards                       Philip Gentry 
HEAD OF GROUP MEDIA RELATIONS      HEAD OF INVESTOR RELATIONS 
Tel: 03-9273 6955 or 0409-655 550  Tel: 03-9273 4185 or 0411-125 474 
Email: edwardp12@anz.com           Email: gentryp@anz.com

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