ANZ Financial Performance Overview
SECTION 4
Cumulative ELP balance is well above the specific provision balance
$m
• The cumulative ELP balance
continues to comfortably
exceed the specific provision
balance.
4000
3500
In 2003 an additional $100
3000
million was provided in ELP as
precaution against continued
above expected levels of
2500
default on the offshore lending
portfolio.
2000
• The reduced 2003 specific
provisioning charge reflected a
56% decrease in overseas
market charges. This is
reflective of the de-risking
1500
strategy in the Institutional
1000
Financial Services segment,
resulting in the winding down
of offshore exposures.
500
1997
1998
1999
2000
2001
2002
ELP (LHS)
SP (LHS)
Cumulative difference (RHS)
30
30
$m
700
600
+500
+400
0
2003
300
200
100
Cum + $250m top up
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