Preliminary Final Report

Document date:  Thu 24 Oct 2002
Published:  Thu 24 Oct 2002 10:27:25
Document No:  196680
Document part:  D
Market Flag:  Y
Classification:  Preliminary Final Report , Periodic Reports - Other , Dividend Record Date , Dividend Pay Date , Dividend Rate 

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2002-10-24  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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HIGHLIGHTS

CHIEF EXECUTIVE OFFICER 
John McFarlane

ANNUAL RESULTS                         COMPARATIVE      CHANGE
                                         SEP '01 

*Net profit after tax $2,322 million     $1,870m      24% increase
*Earnings per ordinary share 147.3 cents  117.4c      25% increase
*Return on ordinary 
shareholders' equity 23.2%                 20.2%     up 3.0%
*Final dividend 46 cents, interim 39 cents   40c     6c increase
*EVA $1,475 million                       $1,275m   16% increase

SIGNIFICANT TRANSACTIONS

*Profit after tax of $170 million on sale of businesses to joint
venture with ING Group (2 nd half)

*Litigation with India's National Housing Bank (NHB) settled, with
recovery of $248 million before tax ($159 million after tax) (1 st
half)

*Special provision of $250 million to increase general provision for
doubtful debts ($175 million after tax) (1st half)

PROFORMA ANNUAL RESULTS                    COMPARATIVE   CHANGE
(ADJUSTED FOR SIGNIFICANT TRANSACTIONS)    SEP 01 

*Net profit after tax $2,168 million         $1,870m    16% increase
*Earnings per ordinary share 137.0 cents     117.4 c    17% increase
*Return on ordinary 
shareholders' equity 21.6%                     20.2%     up 1.4%
*Non Interest income $2,796 million           $2,573     9% increase
*Cost to income 46.0%                           48.0%     down 2.0%
*Provisioning levels increased, 
mainly from Marconi and Enron defaults

- Net specific provisions $728 million       $520m    40% increase
- Economic loss provision $610 million       $531m    15% increase

Impact of expensing options and shares issued under $1,000 employee
share plan
                                                     Sep '02
                                                   $ MILLION
Net profit after tax                                  2,322
Expense attributable to:
Options issued to Management Board                       (7)
Options issued to general management                    (19)
Shares issued under $1,000 employee share plan          (18)
                                                        (44)
Revised profit after tax                               2,278
Revised EPS                                           144.4c
                                                    

HALF YEAR RESULTS                        COMPARATIVE      CHANGE
                                          MAR '02 
*Net profit after tax $1,272 million      $1,050m      21% increase

*Net profit excluding significant 
transactions $1,102 million               $1,066m       3% increase

*Net profit excluding significant 
transactions and goodwill
amortisation $1,130 million                $1,076       5% increase

* Earnings per ordinary share 81.0 cents     66.3c      22% increase

* Return on ordinary shareholders' 
equity 24.8%                                 21.6%      up 3.2%

* Cost to income ratio (excluding 
significant transactions) 45.5%              46.5%      down 1% 

*Net specific provisions $362 million        $366m      1% decrease



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