Half Yearly Report/Accounts

Document date:  Thu 24 Apr 2003
Published:  Thu 24 Apr 2003 08:18:50
Document No:  203518
Document part:  C
Market Flag:  Y
Classification:  Half Yearly Report , Half Year Audit Review , Half Year Directors' Statement , Half Year Accounts , Dividend Record Date , Dividend Pay Date , Dividend Rate 

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2003-04-24  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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MEDIA RELEASE

ANZ 2003 INTERIM RESULTS

Australia and New Zealand Banking Group Limited (ANZ) today announced
an operating profit after tax of $1,141 million for the half year
ended March 2003 up 8.7% for the same period last year. Earnings per
share were up 8.6% to 72 cents.

RESULTS SUMMARY

* Profit after tax of $1,141 million up 8.7% including significant
items. Excluding significant items profit after tax was up 7.0%.

* Earnings per ordinary share up 8.6% to 72 cents per share.

* Interim dividend 44 cents up 12.8%.

* Cost-income ratio further reduced to 45.6%.

* Specific provisions down 29% to $259 million.

All comparisons with 2002 Interim Results.


ANZ Chief Executive Officer Mr John McFarlane said: "The overall
result is reasonable. It reflects a strong performance by most of our
specialist businesses offset by the one-off charge in our Credit Card
business. We are on track to deliver 8% underlying earnings growth
for the full year.

"In recent years our financial performance based on superior
execution has helped make ANZ a very different bank. The issue we
experienced in Cards was below standard and the bottom-line is we
need to do better than this.

"The agenda at ANZ is about a distinctive strategy that is well
executed and consistently delivers superior performance for
shareholders, our staff, our customers and the community.

"Our specialist business portfolio is performing well. However there
is clearly an opportunity to raise our game further," Mr McFarlane
said.


For media enquiries, contact:
Paul Edwards
HEAD OF GROUP MEDIA RELATIONS
Tel:   03-9273 6955 or 0409-655 550
Email: paul.edwards@anz.com

For analyst enquiries, contact:
Philip Gentry
HEAD OF INVESTOR RELATIONS
Tel:   03-9273 4185 or 0411-125 474
Email: gentryp@anz.com


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