FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Report of Foreign Private Issuer

 

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

 

Australia and New Zealand Banking Group Limited

(Translation of registrant’s name into English)

 

Level 6, 100 Queen Street Melbourne Victoria Australia

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F   ý.

 

Form 40-F    o

 

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes   o

 

No    ý

 

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-             

 

 



 

Signatures

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

Australia and New Zealand
Banking Group Limited

 

 

(Registrant)

 

 

 

 

By:

/s/ John Priestley

 

 

Company Secretary

 

 

 

(Signature)*

 

 

Date 27 April 2004

 



 

 

 

 

 

Corporate Affairs

 

Level 22, 100 Queen Street

 

Melbourne Vic 3000

 

Facsimile 03 9273 4899

 

www.anz.com

 

For Release: 23 April 2004

 

ANZ Interim Results reporting format

 

ANZ will announce its Interim Results on Tuesday, 27 April 2004.

 

To assist market participants preparing for their analysis and to understand the disclosures ANZ will make in its results, a draft pro-forma detailing how ANZ will report segments and individual specialist business units is attached.  Prior period numbers in the pro-forma have been restated to reflect the changes below.

 

                  A new business unit “New Zealand Business” has been created which consists of New Zealand Banking, the National Bank of New Zealand, and integration costs.  New Zealand Banking now also includes New Zealand Mortgages.

                  The Mortgages business unit has been renamed “Mortgages Australia” and excludes the New Zealand Mortgages business.

                  Within Institutional Financial Services the operations of Structured Finance International and Corporate Finance and Advisory have been brought together and are being managed as one global business, called Corporate and Structured Financing.

                  ANZ has moved the goodwill amortisation on investments to the Group Centre.  This is an extension of equity standardisation and facilitates better comparisons across different business units.

                  In addition, there have been a number of function transfers including some minor segmentation between Institutional Banking, Corporate, and Asia-Pacific together with a number of relatively minor methodology changes to revenue and cost allocations.

 

In addition to these changes, we will disclose the impact of the NBNZ acquisition on key Profit and Loss and Balance Sheet items, to enable meaningful comparison of prior period performance.

 

For media enquiries contact:

For analyst enquiries contact:

 

 

Paul Edwards

Simon Fraser

Head of Media Relations

Head of Investor Relations

Tel: 03-9273 6955 or 0409-655 550

Tel: 03-9273 4185 or 0412-823 721

email: paul.edwards@anz.com

email: simon.fraser@anz.com

 

 

 

 

 

Stephen Higgins

 

Senior Manager Investor Relations

 

Tel: 03-92734282 or 0417-379 170

 

email: higgins@anz.com

 



 

Profit & Loss (including effect of movements in foreign currencies)

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net profit after income tax

 

 

 

 

 

 

 

 

 

 

 

Personal

 

 

 

 

 

 

 

 

 

 

 

Personal Banking Australia

 

 

 

204

 

195

 

 

 

 

 

Mortgages Australia

 

 

 

119

 

111

 

 

 

 

 

Consumer Finance

 

 

 

95

 

48

 

 

 

 

 

 

 

 

 

418

 

354

 

 

 

 

 

Institutional Financial Services

 

 

 

388

 

385

 

 

 

 

 

New Zealand Business

 

 

 

86

 

92

 

 

 

 

 

Corporate Australia

 

 

 

139

 

130

 

 

 

 

 

Esanda and UDC

 

 

 

67

 

62

 

 

 

 

 

Asia Pacific

 

 

 

65

 

68

 

 

 

 

 

ING Australia

 

 

 

43

 

39

 

 

 

 

 

Treasury

 

 

 

46

 

49

 

 

 

 

 

Group Centre

 

 

 

(45

)

(38

)

 

 

 

 

Net profit (excl significant transactions)

 

 

 

1,207

 

1,141

 

 

 

 

 

Significant transactions(1)

 

 

 

 

 

 

 

 

 

Net profit

 

 

 

1,207

 

1,141

 

 

 

 

 

 

 

1



 

PERSONAL BANKING AUSTRALIA
Elmer Funke Kupper

 

                  Personal Distribution

                  Banking Products

 

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net interest income

 

 

 

430

 

421

 

 

 

 

 

Other external operating income

 

 

 

192

 

187

 

 

 

 

 

Net inter business unit fees

 

 

 

181

 

166

 

 

 

 

 

Operating income

 

 

 

803

 

774

 

 

 

 

 

External operating expenses

 

 

 

(415

)

(400

)

 

 

 

 

Net inter business unit expenses

 

 

 

(86

)

(84

)

 

 

 

 

Operating expenses

 

 

 

(501

)

(484

)

 

 

 

 

Profit before debt provision

 

 

 

302

 

290

 

 

 

 

 

Provision for doubtful debts

 

 

 

(14

)

(13

)

 

 

 

 

Profit before income tax

 

 

 

288

 

277

 

 

 

 

 

Income tax expense and outside equity interests

 

 

 

(84

)

(82

)

 

 

 

 

Net profit attributable to members of the Company

 

 

 

204

 

195

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loans & advances including acceptances

 

 

 

5,902

 

5,197

 

 

 

 

 

Other external assets

 

 

 

794

 

1,034

 

 

 

 

 

External assets

 

 

 

6,696

 

6,231

 

 

 

 

 

Deposits and other borrowings

 

 

 

31,824

 

30,425

 

 

 

 

 

Other external liabilities

 

 

 

1,254

 

1,105

 

 

 

 

 

External liabilities

 

 

 

33,078

 

31,530

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest average margin

 

 

 

2.78

%

2.84

%

 

 

 

 

Return on assets

 

 

 

1.26

%

1.26

%

 

 

 

 

Return on risk weighted assets

 

 

 

3.86

%

3.94

%

 

 

 

 

Operating expenses to operating income

 

 

 

62.4

%

62.5

%

 

 

 

 

Operating expenses to average assets

 

 

 

3.08

%

3.11

%

 

 

 

 

Net specific provisions

 

 

 

(10

)

(9

)

 

 

 

 

Net specific provision as a% of average net advances

 

 

 

0.37

%

0.36

%

 

 

 

 

Net non-accrual loans

 

 

 

10

 

7

 

 

 

 

 

Net non-accrual loans as a% of net advances

 

 

 

0.17

%

0.13

%

 

 

 

 

Total employees

 

 

 

6,597

 

6,517

 

 

 

 

 

 

2



 

PERSONAL BANKING AUSTRALIA

 

PERSONAL DISTRIBUTION

Satyendra Chelvendra (Personal Banking); Mike Guerin (Rural Banking)

 

Michael Saadie (Private Banking); Dean Nalder (Financial Planning)

 

Provides a full range of banking and financial planning services to personal customers across Australia, and to small business and agri customers in rural Australia

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net profit after tax

 

 

 

123

 

120

 

 

 

 

 

Revenue

 

 

 

585

 

566

 

 

 

 

 

Operating expenses

 

 

 

(403

)

(390

)

 

 

 

 

Provision for doubtful debts

 

 

 

(9

)

(8

)

 

 

 

 

Net specific provisions

 

 

 

(7

)

(5

)

 

 

 

 

Net non-accrual loans

 

 

 

10

 

7

 

 

 

 

 

 

BANKING PRODUCTS - Craig Coleman

 

Banking Products manufactures deposit, transaction accounts and Margin Lending products.  In addition, the business manages ANZ’s direct channels covering Phone Banking, ATMs and Internet Banking

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net profit after tax

 

 

 

81

 

75

 

 

 

 

 

Revenue

 

 

 

218

 

208

 

 

 

 

 

Operating expenses

 

 

 

(98

)

(94

)

 

 

 

 

Provision for doubtful debts

 

 

 

(5

)

(5

)

 

 

 

 

Net specific provisions

 

 

 

(3

)

(4

)

 

 

 

 

Net non-accrual loans

 

 

 

 

 

 

 

 

 

 

3



 

MORTGAGES AUSTRALIA
Chris Cooper

 

Provision of mortgage finance secured by residential real estate in Australia

 

 

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net interest income

 

 

 

344

 

311

 

 

 

 

 

Other external operating income

 

 

 

42

 

41

 

 

 

 

 

Net inter business unit fees

 

 

 

(113

)

(101

)

 

 

 

 

Operating income

 

 

 

273

 

251

 

 

 

 

 

External operating expenses

 

 

 

(70

)

(62

)

 

 

 

 

Net inter business unit expenses

 

 

 

(19

)

(19

)

 

 

 

 

Operating expenses

 

 

 

(89

)

(81

)

 

 

 

 

Profit before debt provision

 

 

 

184

 

170

 

 

 

 

 

Provision for doubtful debts

 

 

 

(14

)

(13

)

 

 

 

 

Profit before income tax

 

 

 

170

 

157

 

 

 

 

 

Income tax expense and outside equity interests

 

 

 

(51

)

(46

)

 

 

 

 

Net profit attributable to members of the Company

 

 

 

119

 

111

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses to operating income

 

 

 

32.6

%

32.3

%

 

 

 

 

Net specific provisions

 

 

 

(3

)

(6

)

 

 

 

 

Net non-accrual loans

 

 

 

14

 

23

 

 

 

 

 

Total employees

 

 

 

1,269

 

1,154

 

 

 

 

 

 

4



 

CONSUMER FINANCE
Brian Hartzer

 

Provides consumer and commercial credit cards, ePayment products, personal loans, and merchant payment facilities in Australia, New Zealand, and selected overseas markets

 

 

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net interest income

 

 

 

235

 

214

 

 

 

 

 

Other external operating income

 

 

 

205

 

152

 

 

 

 

 

Net inter business unit fees

 

 

 

(37

)

(36

)

 

 

 

 

Operating income

 

 

 

403

 

330

 

 

 

 

 

External operating expenses

 

 

 

(131

)

(126

)

 

 

 

 

Net inter business unit expenses

 

 

 

(56

)

(57

)

 

 

 

 

Operating expenses

 

 

 

(187

)

(183

)

 

 

 

 

Profit before debt provision

 

 

 

216

 

147

 

 

 

 

 

Provision for doubtful debts

 

 

 

(77

)

(75

)

 

 

 

 

Profit before income tax

 

 

 

139

 

72

 

 

 

 

 

Income tax expense and outside equity interests

 

 

 

(44

)

(24

)

 

 

 

 

Net profit attributable to members of the Company

 

 

 

95

 

48

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses to operating income

 

 

 

46.4

%

55.5

%

 

 

 

 

Net specific provisions

 

 

 

(72

)

(65

)

 

 

 

 

Net non-accrual loans

 

 

 

2

 

2

 

 

 

 

 

Total employees

 

 

 

1,234

 

1,074

 

 

 

 

 

 

5



 

INSTITUTIONAL FINANCIAL SERVICES

Bob Edgar

 

             Institutional Banking

             Transaction Services

             Foreign Exchange

             Capital Markets

             Corporate & Structured Financing

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net interest income

 

 

 

330

 

374

 

 

 

 

 

Other external operating income

 

 

 

619

 

580

 

 

 

 

 

Net inter business unit fees

 

 

 

(12

)

(14

)

 

 

 

 

Operating income

 

 

 

937

 

940

 

 

 

 

 

External operating expenses

 

 

 

(268

)

(280

)

 

 

 

 

Net inter business unit expenses

 

 

 

(60

)

(63

)

 

 

 

 

Operating expenses

 

 

 

(328

)

(343

)

 

 

 

 

Profit before debt provision

 

 

 

609

 

597

 

 

 

 

 

Provision for doubtful debts

 

 

 

(84

)

(80

)

 

 

 

 

Profit before income tax

 

 

 

525

 

517

 

 

 

 

 

Income tax expense and outside equity interests

 

 

 

(137

)

(132

)

 

 

 

 

Net profit attributable to members of the Company

 

 

 

388

 

385

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loans & advances including acceptances

 

 

 

40,510

 

42,292

 

 

 

 

 

Other external assets

 

 

 

16,058

 

17,158

 

 

 

 

 

External assets

 

 

 

56,568

 

59,450

 

 

 

 

 

Deposits and other borrowings

 

 

 

26,965

 

29,045

 

 

 

 

 

Other external liabilities

 

 

 

20,810

 

20,992

 

 

 

 

 

External liabilities

 

 

 

47,775

 

50,037

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest average margin

 

 

 

1.63

%

1.76

%

 

 

 

 

Return on assets

 

 

 

1.33

%

1.27

%

 

 

 

 

Return on risk weighted assets

 

 

 

1.19

%

1.16

%

 

 

 

 

Operating expenses to operating income

 

 

 

35.0

%

36.5

%

 

 

 

 

Operating expenses to average assets

 

 

 

1.12

%

1.13

%

 

 

 

 

Net specific provisions

 

 

 

(94

)

(123

)

 

 

 

 

Net specific provision as a% of average net advances

 

 

 

0.46

%

0.57

%

 

 

 

 

Net non-accrual loans

 

 

 

352

 

406

 

 

 

 

 

Net non-accrual loans as a% of net advances

 

 

 

0.87

%

0.96

%

 

 

 

 

Total employees

 

 

 

2,768

 

2,697

 

 

 

 

 

 

6



 

INSTITUTIONAL FINANCIAL SERVICES

 

INSTITUTIONAL BANKING Murray Horn

 

Managing customer relationships through nine specialised industry segments.  Developing financial services solutions and strategies for large businesses (turnover greater than $100 million) in Australia & New Zealand, and through corporates where we have an existing customer relationship in United Kingdom, United States and Asia

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net profit after tax

 

 

 

157

 

145

 

 

 

 

 

Revenue

 

 

 

368

 

350

 

 

 

 

 

Operating expenses

 

 

 

(85

)

(87

)

 

 

 

 

Provision for doubtful debts

 

 

 

(60

)

(55

)

 

 

 

 

Net specific provisions

 

 

 

(38

)

(42

)

 

 

 

 

Net non-accrual loans

 

 

 

137

 

199

 

 

 

 

 

 

TRANSACTION SERVICES Mark Paton

 

Provision of trade finance, cash management, international payments, clearing and custodian services principally to institutional and corporate customers in Australasia and overseas

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net profit after tax

 

 

 

80

 

84

 

 

 

 

 

Revenue

 

 

 

212

 

211

 

 

 

 

 

Operating expenses

 

 

 

(96

)

(92

)

 

 

 

 

Provision for doubtful debts

 

 

 

(3

)

(4

)

 

 

 

 

Net specific provisions

 

 

 

(6

)

3

 

 

 

 

 

Net non-accrual loans

 

 

 

4

 

4

 

 

 

 

 

 

7



 

FOREIGN EXCHANGE – Rick Sawers

 

Provision of products and services that assist ANZ customers globally to manage Foreign Exchange risk and Commodity risk

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net profit after tax

 

 

 

41

 

44

 

 

 

 

 

Revenue

 

 

 

118

 

127

 

 

 

 

 

Operating expenses

 

 

 

(57

)

(63

)

 

 

 

 

Provision for doubtful debts

 

 

 

 

(1

)

 

 

 

 

Net specific provisions

 

 

 

(9

)

(24

)

 

 

 

 

Net non-accrual loans

 

 

 

45

 

53

 

 

 

 

 

 

CAPITAL MARKETS – David Hornery

 

Provision of origination, underwriting, structuring, risk management, advice, and sale of credit and derivative products globally

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net profit after tax

 

 

 

39

 

36

 

 

 

 

 

Revenue

 

 

 

100

 

98

 

 

 

 

 

Operating expenses

 

 

 

(42

)

(44

)

 

 

 

 

Provision for doubtful debts

 

 

 

(2

)

 

 

 

 

 

Net specific provisions

 

 

 

(5

)

 

 

 

 

 

Net non-accrual loans

 

 

 

12

 

19

 

 

 

 

 

 

8



 

CORPORATE AND STRUCTURED FINANCING – Gordon Branston, Peter Hodgson

 

Provision of complex financing and advisory services, structured financial products, leasing, private equity and development capital, project, export and leveraged finance and infrastructure investment

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net profit after tax

 

 

 

71

 

76

 

 

 

 

 

Revenue

 

 

 

138

 

153

 

 

 

 

 

Operating expenses

 

 

 

(48

)

(57

)

 

 

 

 

Provision for doubtful debts

 

 

 

(19

)

(20

)

 

 

 

 

Net specific provisions

 

 

 

(36

)

(60

)

 

 

 

 

Net non-accrual loans

 

 

 

154

 

131

 

 

 

 

 

 

9



 

NEW ZEALAND BUSINESS
Sir John Anderson

 

                  ANZ New Zealand Banking

                  National Bank of New Zealand

                  New Zealand integration costs

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net interest income

 

 

 

211

 

219

 

 

 

 

 

Other external operating income

 

 

 

94

 

95

 

 

 

 

 

Net inter business unit fees

 

 

 

8

 

8

 

 

 

 

 

Operating income

 

 

 

313

 

322

 

 

 

 

 

External operating expenses

 

 

 

(121

)

(120

)

 

 

 

 

Net inter business unit expenses

 

 

 

(55

)

(55

)

 

 

 

 

Operating expenses

 

 

 

(176

)

(175

)

 

 

 

 

Profit before debt provision

 

 

 

137

 

147

 

 

 

 

 

Provision for doubtful debts

 

 

 

(9

)

(9

)

 

 

 

 

Profit before income tax

 

 

 

128

 

138

 

 

 

 

 

Income tax expense and outside equity interests

 

 

 

(42

)

(46

)

 

 

 

 

Net profit attributable to members of the Company

 

 

 

86

 

92

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loans & advances including acceptances

 

 

 

13,429

 

13,456

 

 

 

 

 

Other external assets

 

 

 

381

 

501

 

 

 

 

 

External assets

 

 

 

13,810

 

13,957

 

 

 

 

 

Deposits and other borrowings

 

 

 

11,693

 

11,963

 

 

 

 

 

Other external liabilities

 

 

 

288

 

346

 

 

 

 

 

External liabilities

 

 

 

11,981

 

12,309

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest average margin

 

 

 

3.11

%

3.30

%

 

 

 

 

Return on assets

 

 

 

1.25

%

1.38

%

 

 

 

 

Return on risk weighted assets

 

 

 

1.80

%

2.13

%

 

 

 

 

Operating expenses to operating income

 

 

 

56.2

%

54.3

%

 

 

 

 

Operating expenses to average assets

 

 

 

2.56

%

2.60

%

 

 

 

 

Net specific provisions

 

 

 

(3

)

 

 

 

 

 

Net specific provision as a% of average net advances

 

 

 

0.04

%

0.00

%

 

 

 

 

Net non-accrual loans

 

 

 

8

 

13

 

 

 

 

 

Net non-accrual loans as a% of net advances

 

 

 

0.06

%

0.10

%

 

 

 

 

Total employees

 

 

 

2,727

 

2,613

 

 

 

 

 

 

10



 

ANZ NEW ZEALAND BANKING Sir John Anderson

 

Provides a full range of banking services, including mortgage lending and wealth management, through branches, call centres, relationship managers and on-line banking.  New Zealand Banking excludes Institutional Financial Services, Consumer Finance and Asset Finance.  New Zealand geography (page ) includes all ANZ operations in New Zealand.

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net profit after tax

 

 

 

86

 

92

 

 

 

 

 

Revenue

 

 

 

313

 

322

 

 

 

 

 

Operating expenses

 

 

 

(176

)

(175

)

 

 

 

 

Provision for doubtful debts

 

 

 

(9

)

(9

)

 

 

 

 

Net specific provisions

 

 

 

(3

)

 

 

 

 

 

Net non-accrual loans

 

 

 

8

 

13

 

 

 

 

 

 

NATIONAL BANK OF NEW ZEALAND - Sir John Anderson

 

Provides a full range of banking services for personal, rural, small business, corporate and institutional customers in New Zealand. The National Bank of New Zealand results on this page exclude goodwill amortisation. New Zealand geography (page ) includes all NBNZ operations.

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net profit after tax

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

 

Provision for doubtful debts

 

 

 

 

 

 

 

 

 

Net specific provisions

 

 

 

 

 

 

 

 

 

Net non-accrual loans

 

 

 

 

 

 

 

 

 

 

11



 

CORPORATE AUSTRALIA
Graham Hodges

 

•     Small to Medium Enterprises Australia

                  Corporate Banking Australia

 

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net interest income

 

 

 

249

 

238

 

 

 

 

 

Other external operating income

 

 

 

109

 

100

 

 

 

 

 

Net inter business unit fees

 

 

 

(22

)

(22

)

 

 

 

 

Operating income

 

 

 

336

 

316

 

 

 

 

 

External operating expenses

 

 

 

(91

)

(87

)

 

 

 

 

Net inter business unit expenses

 

 

 

(22

)

(20

)

 

 

 

 

Operating expenses

 

 

 

(113

)

(107

)

 

 

 

 

Profit before debt provision

 

 

 

223

 

209

 

 

 

 

 

Provision for doubtful debts

 

 

 

(24

)

(24

)

 

 

 

 

Profit before income tax

 

 

 

199

 

185

 

 

 

 

 

Income tax expense and outside equity interests

 

 

 

(60

)

(55

)

 

 

 

 

Net profit attributable to members of the Company

 

 

 

139

 

130

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loans & advances including acceptances

 

 

 

16,030

 

14,827

 

 

 

 

 

Other external assets

 

 

 

55

 

58

 

 

 

 

 

External assets

 

 

 

16,085

 

14,885

 

 

 

 

 

Deposits and other borrowings

 

 

 

12,846

 

11,881

 

 

 

 

 

Other external liabilities

 

 

 

5,104

 

4,636

 

 

 

 

 

External liabilities

 

 

 

17,950

 

16,517

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest average margin

 

 

 

3.83

%

3.82

%

 

 

 

 

Return on assets

 

 

 

1.63

%

1.60

%

 

 

 

 

Return on risk weighted assets

 

 

 

1.84

%

1.86

%

 

 

 

 

Operating expenses to operating income

 

 

 

33.6

%

33.9

%

 

 

 

 

Operating expenses to average assets

 

 

 

1.32

%

1.31

%

 

 

 

 

Net specific provisions

 

 

 

(49

)

(8

)

 

 

 

 

Net specific provision as a% of average net advances

 

 

 

0.64

%

0.11

%

 

 

 

 

Net non-accrual loans

 

 

 

74

 

87

 

 

 

 

 

Net non-accrual loans as a% of net advances

 

 

 

0.46

%

0.58

%

 

 

 

 

Total employees

 

 

 

1,594

 

1,520

 

 

 

 

 

 

12



 

SMALL TO MEDIUM ENTERPRISES AUSTRALIA – Graham Hodges

 

Provides a full range of banking services for metropolitan based small to medium business in Australia with turnover up to $10 million

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net profit after tax

 

 

 

82

 

76

 

 

 

 

 

Revenue

 

 

 

184

 

170

 

 

 

 

 

Operating expenses

 

 

 

(59

)

(53

)

 

 

 

 

Provision for doubtful debts

 

 

 

(8

)

(8

)

 

 

 

 

Net specific provisions

 

 

 

(3

)

(2

)

 

 

 

 

Net non-accrual loans

 

 

 

5

 

6

 

 

 

 

 

 

CORPORATE BANKING AUSTRALIA – Graham Hodges

 

Managing customer relationships and developing financial solutions for medium sized businesses (turnover $10 million to $100 million) in Australia

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net profit after tax

 

 

 

57

 

54

 

 

 

 

 

Revenue

 

 

 

152

 

146

 

 

 

 

 

Operating expenses

 

 

 

(54

)

(54

)

 

 

 

 

Provision for doubtful debts

 

 

 

(16

)

(16

)

 

 

 

 

Net specific provisions

 

 

 

(46

)

(6

)

 

 

 

 

Net non-accrual loans

 

 

 

69

 

81

 

 

 

 

 

 

13



 

ESANDA AND UDC
Elizabeth Proust

 

Under the Esanda and UDC brands, providers of vehicle and equipment finance and rental services.

 

 

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net interest income

 

 

 

177

 

173

 

 

 

 

 

Other external operating income

 

 

 

44

 

42

 

 

 

 

 

Net inter business unit fees

 

 

 

(3

)

(4

)

 

 

 

 

Operating income

 

 

 

218

 

211

 

 

 

 

 

External operating expenses

 

 

 

(77

)

(78

)

 

 

 

 

Net inter business unit expenses

 

 

 

(12

)

(12

)

 

 

 

 

Operating expenses

 

 

 

(89

)

(90

)

 

 

 

 

Profit before debt provision

 

 

 

129

 

121

 

 

 

 

 

Provision for doubtful debts

 

 

 

(32

)

(32

)

 

 

 

 

Profit before income tax

 

 

 

97

 

89

 

 

 

 

 

Income tax expense and outside equity interests

 

 

 

(30

)

(27

)

 

 

 

 

Net profit attributable to members of the Company

 

 

 

67

 

62

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses to operating income

 

 

 

40.8

%

42.7

%

 

 

 

 

Net specific provisions

 

 

 

(47

)

(25

)

 

 

 

 

Net non-accrual loans

 

 

 

49

 

55

 

 

 

 

 

Total employees

 

 

 

1,311

 

1,290

 

 

 

 

 

 

14



 

ASIA PACIFIC
Bob Lyon

 

Provision of primarily retail banking services in the Pacific Region and Asia, including ANZ’s share of PT Panin Bank in Indonesia; this business unit excludes Institutional and Corporate transactions that are included in the geographic results for Asia

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net interest income

 

 

 

59

 

58

 

 

 

 

 

Other external operating income

 

 

 

88

 

97

 

 

 

 

 

Net inter business unit fees

 

 

 

 

 

 

 

 

 

Operating income

 

 

 

147

 

155

 

 

 

 

 

External operating expenses

 

 

 

(44

)

(48

)

 

 

 

 

Net inter business unit expenses

 

 

 

(15

)

(16

)

 

 

 

 

Operating expenses

 

 

 

(59

)

(64

)

 

 

 

 

Profit before debt provision

 

 

 

88

 

91

 

 

 

 

 

Provision for doubtful debts

 

 

 

(5

)

(5

)

 

 

 

 

Profit before income tax

 

 

 

83

 

86

 

 

 

 

 

Income tax expense and outside equity interests

 

 

 

(18

)

(18

)

 

 

 

 

Net profit attributable to members of the Company

 

 

 

65

 

68

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses to operating income

 

 

 

40.1

%

41.3

%

 

 

 

 

Net specific provisions

 

 

 

7

 

1

 

 

 

 

 

Net non-accrual loans

 

 

 

18

 

12

 

 

 

 

 

Total employees

 

 

 

1,545

 

1,526

 

 

 

 

 

 

15



 

ING AUSTRALIA (JOINT VENTURE)
Paul Bedbrook

 

ING Australia, the joint venture between ANZ and ING Group, provides integrated manufacture and distribution of wealth creation, management and protection products and services aligned to ANZ distribution and the open market

 

 

ING Australia

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Funds management income

 

 

 

202

 

190

 

 

 

 

 

Risk income

 

 

 

82

 

76

 

 

 

 

 

 

 

 

 

284

 

266

 

 

 

 

 

Costs (excl goodwill on purchase of ANZ business)

 

 

 

(196

)

(207

)

 

 

 

 

 

 

 

 

88

 

59

 

 

 

 

 

Capital investment earnings

 

 

 

61

 

24

 

 

 

 

 

Net income

 

 

 

149

 

83

 

 

 

 

 

Income tax expense

 

 

 

(29

)

 

 

 

 

 

Profit after tax

 

 

 

120

 

83

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ANZ share

 

 

 

 

 

 

 

 

 

 

 

ANZ share of INGA earnings @49%

 

 

 

58

 

41

 

 

 

 

 

Notional goodwill(1)

 

 

 

 

 

 

 

 

 

ANZ equity accounted profits

 

 

 

58

 

41

 

 

 

 

 

ANZ capital hedges

 

 

 

(8

)

2

 

 

 

 

 

Net funding cost

 

 

 

(7

)

(4

)

 

 

 

 

Net return to ANZ

 

 

 

43

 

39

 

 

 

 

 

 

16



 

TREASURY
Michael Dontschuk

 

The banker for all ANZ businesses.  Charged with providing cash flow support, ensuring liquidity, managing interest rate risk and providing capital to the businesses

 

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net interest income

 

 

 

74

 

81

 

 

 

 

 

Other external operating income

 

 

 

 

 

 

 

 

 

Net inter business unit fees

 

 

 

 

 

 

 

 

 

Operating income

 

 

 

74

 

81

 

 

 

 

 

External operating expenses

 

 

 

(7

)

(7

)

 

 

 

 

Net inter business unit expenses

 

 

 

(2

)

(3

)

 

 

 

 

Operating expenses

 

 

 

(9

)

(10

)

 

 

 

 

Profit before debt provision

 

 

 

65

 

71

 

 

 

 

 

Provision for doubtful debts

 

 

 

 

 

 

 

 

 

Profit before income tax

 

 

 

65

 

71

 

 

 

 

 

Income tax expense and outside equity interests

 

 

 

(19

)

(22

)

 

 

 

 

Net profit attributable to members of the Company

 

 

 

46

 

49

 

 

 

 

 

Total employees

 

 

 

43

 

43

 

 

 

 

 

 

17



 

GROUP CENTRE

 

             Group People Capital

             Group Risk Management

             Capital Funding Unit & Group Items

             Call Centre

             Group Strategic Development

             CFO Units

                  Operations, Technology & Shared Services

 

 

 

Half
year
Mar 04

 

Half
year
Sep 03

 

Half
year
Mar 03

 

Movt
Mar 04
v. Sep 03

 

Movt
Mar 04
v. Mar 03

 

 

 

$M

 

$M

 

$M

 

%

 

%

 

Net interest income

 

 

 

72

 

57

 

 

 

 

 

Other external operating income

 

 

 

17

 

14

 

 

 

 

 

Net inter business unit fees

 

 

 

(2

)

3

 

 

 

 

 

Operating income

 

 

 

87

 

74

 

 

 

 

 

External operating expenses

 

 

 

(403

)

(395

)

 

 

 

 

Net inter business unit expenses

 

 

 

328

 

330

 

 

 

 

 

Operating expenses

 

 

 

(75

)

(65

)

 

 

 

 

Profit before debt provision

 

 

 

12

 

9

 

 

 

 

 

Provision for doubtful debts

 

 

 

(52

)

(52

)