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Investor Presentaiton

% Mortgage outlook - 60 day arrears improving 0.80 0.70 0.60 0.50 0.40 0.30 0.20 Home Loan 0.10 Res Inv Loan 0.00 Jan- 01 May- Sep- Jan- 01 01 02 May- Sep- 02 02 % change 60 50 40 30 20 10 0 -10 -20 1967 1969 House prices well below previous peaks slight deterioration Sydney Melbourne AND 2001 • ANZ has not allowed FHOG to be the source of minimum equity requirement • Behavioural scores remain stable • Scorecards tightened in 2001, resulting in higher quality borrowers • Unemployment, a key driver of default, continues to trend downwards • Scenario analysis at 95% confidence suggests loss not exceeding 4-6 bp. over next 12 months, compared with ELP of 5 bp • Based on uncommitted monthly income at time of application, 100% of customers could meet a 1% rise in interest rates, and 97.2% could meet a 2% increase without rearranging affairs 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 Investor Presentation ANZ
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