ANZ Financial Performance Overview

Full year result driven by asset and deposit growth Full year NPAT growth increased 8.3% with growth in net income, tight expense control, and improving credit quality being the highlights. Net interest income strong lending growth resulted in a $454m increase in net interest income, offset by a 10 bp margin decline, which reduced net interest income by $161m. Other income flat as a result of an under accrual of loyalty points on co- branded credit cards in prior years, higher cost of loyalty points, and sale of ANZ FM. Expenses • were once again tightly controlled across the group, increasing 2%. Cost savings generated throughout the period were offset by a volume driven increase. Provisioning Tax • asset quality improved with the ELP rate down offsetting volume growth, primarily in mortgages. reduction in tax rate by 0.4% due to a higher proportion of equity accounted income. $m 2168* Sep-02 293 Interest Non Interest Income Income 12 Expenses (75) Provisioning (4) Tax & OEI (46) $m 2348 NPAT 8.3% headline basis 9.2% cash basis Sep-03 * 23 Sep-02 excludes significant items ANZ

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