ANZ is a major Australian-based bank operating a retail and business banking franchise in Australia, New Zealand and throughout the South Pacific. Australian operations make up the largest part of ANZ's business with commercial & retail banking & funds management. Following the acquisition of National Bank of New Zealand, ANZ is the largest bank in New Zealand. Expansion in the Asian region in is being undertaken.

ANZ had the highest international profile of any of the major four banks. A significant refocusing on the Australian and New Zealand markets has seen a substantial lowering of risk profile and a greater exposure to lower risk consumer businesses.ANZ's strategy is aimed at becoming Australasia's leading, most respected and fastest growing major bank. The strategy embraces a distinctive customer service, delivered at low cost and low risk resulting in market leadership and superior market growth combined with sustainable shareholder value.ANZ reported Cash NPAT up 10% to $1.7bn for the half year ended 31 March 2006. Statutory NPAT was $1.8bn, up 16% from the pcp. Revenues from ordinary activities were $4.96bn, up 8% from the same period last year. Diluted EPS was 96.1 cents compared to 80.6 cents last year. The net operating cash outflow was $4.5bn compared to an inflow of $1.3bn in the pcp. The interim dividend declared was 56 cents compared with 51 cents last year. Revenue growth at 8% is the highest it has been in recent years and solidly within the target range of 7-9%. The group also stated that credit quality remains at its best level in more than a decade and at a cyclical low.

30/09/05

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