Half Yearly Report/ASIC accounts

Document date:  Fri 26 Apr 2002
Published:  Fri 26 Apr 2002 10:49:24
Document No:  189561
Document part:  E
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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FINANCIAL HIGHLIGHTS (continued)

PERFORMANCE MEASUREMENTS
                                              HALF          HALF
                                              YEAR          YEAR
                                             MAR 02        MAR 01 
PROFITABILITY RATIOS
Return on: 
  Average ordinary shareholders' equity(1)   21.6%         19.6%
  Average assets                             1.18%         1.04%
  Average risk weighted assets               1.53%         1.35%
  Total income                               17.1%         12.6%

Net interest average margin                  2.75%         2.77% 
Profit per average FTE ($)                  46,464        40,062 

EFFICIENCY RATIOS(2)
  Operating expenses (excluding NHB(3)
   recovery) to operating income             46.5%         49.1%
  Operating expenses (including NHB
   recovery) to operating income             39.1%         49.1%
  Operating expenses (excluding NHB 
   recovery) to average assets                1.8%          1.8% 
  Operating expenses (including NHB  
   recovery) to average assets                1.5%          1.8%

DEBT PROVISIONING
Economic loss provisioning ($M)                301            241
Special general provision charge ($M)          250             - 
Net specific provisions ($M)                   366            181

EARNINGS PER ORDINARY SHARE (CENTS)
Earnings per ordinary share (basic)           66.3           55.8 
Earnings per ordinary share (diluted)         66.0           55.7

ORDINARY SHARE DIVIDENDS (CENTS)
  Interim - 100% franked (Mar 02: 100% franked) 39              33
  Final - 100% franked (Sep 01: 100% franked)   n/a            n/a
Dividend payout ratio                         58.9%          58.7%

PREFERENCE SHARE DIVIDEND
Dividend paid ($M)                               60             59

EVA(TM)
Profit after tax excluding NHB recovery        
 and special general provision for doubtful
 debts                                        1,066           895
Imputation credits                              217           228

Risk adjusted profit                          1,283         1,123
Cost of economic capital                       (505)        (470) 
Cost of preference share capital                (60)         (59) 

EVA(TM)                                         718          594 

1. Ordinary shareholders' equity excluding outside equity interests
2. Exclude goodwill amortisation 
3. India's National Housing Bank, refer notes 17 

STATEMENT OF FINANCIAL POSITION
                                         AS AT      AS AT      MOVT 
                                        MAR 02      MAR 01    MAR 02 
                                          $M          $M     V MAR 01
                                                                 % 
ASSETS 
Liquid assets                             6,752      5,113      32%
Due from other financial institutions     3,468      4,076     -15%
Trading and investment securities         7,905      8,122      -3%
Net loans and advances including
 acceptances                            139,779    137,439       2%
Other                                    18,685     26,217     -29%

TOTAL ASSETS                            176,589    180,967      -2%

LIABILITIES
Due to other financial institutions       8,215     13,376     -39%
Deposits and other borrowings           105,616    102,046       3%
Liability for acceptances                14,512     14,532       -
Bonds and notes                          14,437     13,108      10%
Other                                    23,006     27,705     -17%

TOTAL LIABILITIES                       165,786    170,767      -3% 

TOTAL SHAREHOLDERS' EQUITY               10,803     10,200       6%

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