Anz Group Holdings Limited · ASX:ANZ
Anz — Australia and New Zealand Banking Group — FY2012 Earnings Presentation
138 slides from Anz's earnings presentation, Oct 25, 2012
Slide 1: Full Year Results
For personal use only 12 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 25 October 2012 Results Presentation & Investor Discussion Pack
Slide 2: Index
Index For personal use only Full Year Result Overview CEO Presentation 3 CFO Presentation 11 Additional Financial Information Adjustments between statutory profit and underlying profit 23 Net Interest Margin 24 Balance Sheet 33 Treasury 37 Risk Management 48 Divisional Performance Australia Division
Slide 3: Mike Smith, Chief Executive Officer
For personal use only 12 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 25 October 2012 Mike Smith Chief Executive Officer
Slide 4: Overview of financial performance
Overview of financial performance For personal use only 2012 $M % Underlying Profit1, 2, 3 6,011 +6% Operating Income 17,579 +5% Expenses 8,022 +4% Provisions 1,246 +3% Statutory Net Profit After Tax 5,661 +6% EPS (cents) 225.3 +3% Dividend per Share (cents) 145 +4% Net Interest Margin 2.31% -11bps
Slide 5: Australia Division
Australia Division For personal use only Underlying profit growth FY12 v FY11 Australia Division 4% Underlying Net Profit after Tax Traditional Banking Market Share1 $m ANZ Peer 1 Peer 2 Peer 3 23 16 2 2 22 15 1 2492 21 14 2390 13 12 11 10 Jul-10 Jan-11 Jul-11 Jan-12 Aug-12 Jul-12 1305 1187 Cost to
Slide 6: International and Institutional Banking Division
International and Institutional Banking (IIB) Division For personal use only Underlying profit growth (AUDm) FY12 v FY11 IIB Division 3% Net profit after Tax Income Growth FY12 v FY11 1 Institutional Australia / New Zealand APEA 2,301 2,372 25% 2,047 744 908 714 17% 14% 11% 1,557 1,464 1,333 FY10 FY
Slide 7: New Zealand Businesses
New Zealand Businesses For personal use only Underlying profit growth (NZDm) FY12 v FY11 New Zealand Businesses 11% Underlying profit Cost to Income Ratio NZDm NZDm 44.9% 44.9% 45.0% 660 957 44.5% 640 44.1% 863 43.8% 44.0% 620 43.5% 600 43.0% 580 473 484 42.5% 560 42.0% 540 41.5% 520 41.0% 500 40.5%
Slide 8: Global Wealth and Private Banking Division
Global Wealth and Private Banking Division For personal use only Underlying profit growth FY12 v FY11 Global Wealth and Private Banking Division -1% Underlying profit Insurance annual in-force premiums $m $m 1,822 457 451 1,758 1,722 2H11 1H12 2H12 245 206 Cost to income ratio 59.8% 58.0% 57.4% 56.3
Slide 9: Credit Quality
Credit Quality For personal use only Provision Charge Trends $m Collective Provision Charge (LHS) % Avg. Net Advances Individual Provision Charge (LHS) 2,000 1.00% Total Provision Charge as % Avg. Net Advances (RHS) 1,750 0.90% 0.80% 1,500 0.70% 1,250 0.60% 1,000 0.50% 750 0.40% 500 0.30% 250 0.20%
Slide 10: Progressing well against our strategic objectives
Progressing well against our strategic objectives For personal use only Strengthen Domestic Franchise Connectivity / Revenue Diversification • Market share • % IIB revenue derived outside AUS/NZ 43% AUS Mortgages ↑20 bps YOY1 AUS Household Deposits ↑20 bps YOY1 • % IIB deposits derived outside A
Slide 11: Shayne Elliott, Chief Financial Officer
For personal use only 12 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 25 October 2012 Shayne Elliott Chief Financial Officer
Slide 12: 2012 Full year financial performance
2012 Full year financial performance For personal use only Performance FY12 v FY11 ($m) 154 ROE 16.2% ROE 15.6% 613 6,011 304 35 69 5,652 Up 5% Up 3% Up 4% Up 3% Up 3% Up 6% FY11 NII OOI Expenses Provisions Tax & OEI FY12 Underlying Underlying Profit Profit Performance 2H12 v 1H12 ($m) 1H12 2H12 Und
Slide 13: Super Regional Strategy – Core Themes
Super Regional Strategy – 5 Core Themes For personal use only 1 Strengthen our position in Australia and New Zealand 2 Capture faster growing regional flows in trade, capital and wealth 3 Diversify revenue streams by product, geography and customer 4 Leverage global hubs and shared platforms 5 Drive
Slide 14: Strengthening our position in Australia & New Zealand
Strengthening our position in Australia & New Zealand For personal use only Australia New Zealand Deposit & Lending Growth Deposit & Lending Growth FY12 v FY11 FY12 v FY11 Deposits Lending Deposits Lending 12% 13% 12% 9% 9% 9% 7% 1% Retail Commercial Retail Small Business Banking Cost to Income Rati
Slide 15: Capturing regional flows and diversifying income
Capturing regional flows and diversifying income For personal use only Global Markets Income Income Growth FY12 v FY11 $m Sales Trading Balance Sheet 1,200 25% 1,022 17% 988 1,000 953 10% 11% 909 864 800 Global Foreign Cash Trade & 701 Markets Exchange Management Supply Chain Sales 600 46% 25% 400 1
Slide 16: Productivity focus is delivering results
Productivity focus is delivering results For personal use only Cost to Income Ratio (%) Operating Expense Growth (%) Group FY10 FY11 FY12 Australia Division 15% International & Institutional Banking Division New Zealand Businesses 11% 9% 50% 6% 4% 2% 45% Group Australia FY10 FY11 FY12 20% 17% 40% 6%
Slide 17: Effective capital management critical in a lower growth environment
Effective capital management critical in a lower growth environment For personal use only $11bn of shareholders‟ equity used to Common Equity Tier 1 Ratio strengthen capital ratios APRA Basel 3 Internationally Harmonised Basel 3 $40b Capital 11 Strengthening 9.8% 10.0% 9.3% 9.5% 8 Business Growth 7.
Slide 18: Credit quality tracking in line with expectations
Credit quality tracking in line with expectations For personal use only Management Overlay Balance Movement Gross Impaired Assets by Size of Exposure 2H12 v 1H12 $m > $100m $10-$99m < $10m 8,000 862 6,561 6,561 7,000 6,221 (44) 5,581 6,000 5,343 5,196 6 597 5,000 (198) (29) 4,000 3,000 2,000 1,000 0
Slide 19: 2012 Operating Income Mix
2012 Operating Income Mix For personal use only Divisional Revenue Customer Revenue International & Financing & Institutional Banking Capital Management Australia 37% Payments & 40% Cash 65% Management 20% 15% 12% Group 8% 2% New Risk Centre Zealand Management Global Wealth & Private Banking 19
Slide 20: Net Interest Margin trends
Net Interest Margin trends For personal use only Net Interest Income 2H12 v 1H12 Net Interest Margin Group Ex-Markets Australia Division Down 7bps Up 4 bps ANZ Group ex-markets 4.9% 4.2% Australia Division 1.8% NZ Businesses IIB Division ex-Markets 3.50% -2.5% Volume Margin Volume Margin 3.00% New Z
Slide 21: Outlook - Continuing to execute our super regional strategy
Outlook - Continuing to execute our super regional strategy For personal use only Income Growth Return on Equity FY11 FY12 16% 6% 7% 19.6% 15.1% 15.5% 16.2% 15.6% 3% 13.3% Australia / New Zealand APEA FY07 FY08 FY09 FY10 FY11 FY12 Operating Expense Growth Dividend 15% Full Year Dividend Dividend Pay
Slide 22: Additional Financial Information
For personal use only 12 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 25 October 2012 Investor Discussion Pack Additional Financial Information
Slide 23: Adjustments between statutory profit and underlying profit
Adjustments between statutory profit and underlying profit For personal use only 2H12 FY12 $M $M Statutory profit 2,742 5,661 Adjustments between statutory profit and underlying profit Gain on sale of Visa shares (224) (224) New Zealand Simplification programme 59 105 Acquisition related adjustments
Slide 24: Net Interest Margin (NIM) movement summary
Net Interest Margin (NIM) movement summary For personal use only Basis points (bps) Group Divisions Regions Australia Division NZ Businesses IIB Division Australia NZ HOH YOY HOH YOY HOH YOY HOH YOY HOH YOY HOH YOY Starting NIM 235 242 245 259 266 252 195 209 251 259 247 235 Funding & Asset Mix -2 1
Slide 25: NIM – Divisional Trends
NIM – Divisional Trends For personal use only Net Interest Income 2H12 v 1H12 Net Interest Margin Group Ex-Markets Australia Division ANZ Group ex-markets 4.9% 4.2% Down 7 bps Up 4 bps Australia Division 1.8% NZ Businesses IIB Division ex-Markets 3.50% -2.5% Volume Margin Volume Margin 3.00% New Zea
Slide 26: NIM – Group
NIM – Group For personal use only NIM movement 2H12 v 1H12 bps 235 9 228 2 2 1 0 11 Ex-markets down 7 bps Including markets down 7 bps 1H12 Funding & Funding Costs Deposits Assets Other Markets 2H12 Asset Mix Key drivers of movement Funding & Relative increase in Transaction Banking and lower growth
Slide 27: NIM – Group
NIM – Group For personal use only NIM movement FY12 v FY11 bps 1 242 2 8 6 231 2 10 Ex-markets down 9 bps Including markets down 11 bps FY11 Funding & Funding Costs Deposits Assets Other Markets FY12 Asset Mix Key drivers of movement Funding & Reduced reliance on wholesale funding offset by growth i
Slide 28: NIM – Australia Division
NIM – Australia Division For personal use only NIM movement FY12 v FY11 bps 259 2 10 3 247 3 14 Down 12 bps FY11 Funding & Funding Costs Deposits Assets Other FY12 Asset Mix NIM movement 2H12 v 1H12 bps 18 5 249 245 2 1 16 Up 4 bps 1H12 Funding & Funding Costs Deposits Assets Other 2H12 Asset Mix 28
Slide 29: NIM – New Zealand Division
NIM – New Zealand Division For personal use only NIM movement FY12 v FY11 bps 4 262 7 13 252 1 15 Up 10 bps FY11 Funding & Funding Costs Deposits Assets Other FY12 Asset Mix NIM movement 2H12 v 1H12 bps 3 266 2 4 259 3 9 Down 7 bps 1H12 Funding & Funding Costs Deposits Assets Other 2H12 Asset Mix 29
Slide 30: NIM – International & Institutional Banking Division
NIM – International & Institutional Banking Division For personal use only NIM movement FY12 v FY11 bps 209 16 185 11 7 7 0 15 Ex-markets down 40 bps Including markets down 24 bps FY11 Funding & Funding Costs Deposits Assets Other Markets FY12 Asset Mix NIM movement 2H12 v 1H12 bps 195 14 176 8 11 4
Slide 31: NIM – Australia Geography
NIM – Australia Geography For personal use only NIM movement FY12 v FY11 bps 259 1 7 2 249 6 1 11 Ex-markets down 12 bps Including markets down 10 bps FY11 Funding & Funding Costs Deposits Assets Other Markets FY12 Asset Mix NIM movement 2H12 v 1H12 bps 251 248 13 3 2 1 2 12 Ex-markets down 5 bps In
Slide 32: NIM – New Zealand Geography
NIM – New Zealand Geography For personal use only NIM movement FY12 v FY11 bps 12 2 243 6 4 235 2 10 Ex-markets up 12 bps Including markets up 8 bps FY11 Funding & Funding Costs Deposits Assets Other Markets FY12 Asset Mix NIM movement 2H12 v 1H12 bps 2 247 1 3 239 9 3 0 Ex-markets down 8 bps Includ
Slide 33: Balance Sheet – Customer Lending & Deposits
Balance Sheet – Customer Lending & Deposits For personal use only Net Loans & Advances Customer Deposits (incl. Acceptances) $b $b Loan / Deposit Ratio 450 450 180% 167% 400 400 160% 350 350 130% 140% 300 300 120% 250 250 100% 200 200 80% 150 150 60% 100 100 40% 50 50 20% 0 0 0% Sep 08 Sep 09 Sep 10
Slide 34: Balance Sheet – Composition by Geography
Balance Sheet – Composition by Geography For personal use only Customer Lending1 by Geography Customer Deposits by Geography APEA APEA APEA Commercial Australia Retail & Wealth Retail & Wealth & Institutional Institutional 14% 2% APEA Commercial 5% 19% & Institutional Australia 8% Commercial Austral
Slide 35: Balance Sheet – Composition by Division
Balance Sheet – Composition by Division For personal use only Customer Lending1 by Division Customer Deposits by Division 25% 43% 44% 57% 17% 1% 1% 12% Australia Australia International & Institutional Banking International & Institutional Banking New Zealand New Zealand Global Wealth & Private Bank
Slide 36: Balance Sheet – Composition by Segment
Balance Sheet – Composition by Segment For personal use only Customer Lending1 by Segment Customer Deposits by Segment New Zealand Australia Australia Commercial Institutional New Zealand Commercial Commercial 17% 12% 10% 5% New Zealand Retail & Wealth 7% Commercial 14% Australia Australia 13% APEA
Slide 37: Treasury
For personal use only 12 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 25 October 2012 Investor Discussion Pack Treasury
Slide 38: Balance Sheet strengthening has been a consistent focus
Balance Sheet strengthening has been a consistent focus For personal use only Strong Capital Position Increased Liquid Assets AUDb 115 10.8% 10.1% 75 7.7% 8.8% 38 8.0% 5.9% Sep 08 Sep 10 Sep 12 Sep 08 Sep 10 Sep 12 Basel 2 Tier 1 Ratio Basel 2 Common Equity Tier 1 Strengthened Funding Profile Divers
Slide 39: ANZ is in a strong capital position
ANZ is in a strong capital position For personal use only $11bn of shareholders‟ equity Capital levels are well positioned used to strengthen capital ratios (CET1) AUDb 40 Basel 3 Minimum 9.8% 10.0% Capital Capital 9.5% 11 9.3% Requirement Strengthening Business Capital 8 Growth 2.5% Conservation 21
Slide 40: Solid organic capital generation underpins strong Basel CET1 position
Solid organic capital generation underpins strong Basel 3 CET1 position For personal use only Capital Position (APRA Basel 3 Common Equity Tier 1) 10.03 2.03 (0.70) 0.28 (0.27) 8.02 7.47 (0.76) (0.03) Portf olio growth: 38bp decrease Risk Migration (incl EL vs EP): 2bp increase Portf olio data revie
Slide 41: Reconciliation of ANZ's capital position under Basel
Reconciliation of ANZ‟s capital position under Basel 3 For personal use only ANZ capital ratios: Basel 2 to Basel 3 CET1 Tier-1 Total Capital Sep-12 APRA Basel 2 8.8% 10.8% 12.2% Dividend not provided for (net of DRP) 0.5% 0.5% 0.5% Investments in ADI and overseas equivalents -0.4% -0.4% 0.0% Invest
Slide 42: Well diversified funding profile with low reliance on offshore short term debt
Well diversified funding profile with a low reliance on offshore short term wholesale debt For personal use only Strengthened Funding Profile FY12 Lending growth fully funded Offshore Commercial by deposit growth Paper only 2% of total funding AUDb (USD13b) 31.1 13% 13% 14% (30.3) 22% 18% 28.3 6% 6%
Slide 43: FY13 term funding well progressed, already one third complete
FY13 term funding well progressed, already one third complete For personal use only Consistent term wholesale funding Growth in term wholesale funding AUDb requirement portfolio costs moderating 3m BBSW 30 160bp Actual portfolio cost Issuance Maturities 140bp Forecast portfolio cost based on 25 curr
Slide 44: Recent issuance has been well diversified
Recent issuance has been well diversified supporting a sustainable wholesale debt portfolio For personal use only Term Debt Issuance Term Debt Outstandings Weighted avg. Weighted avg. tenor : 4.0 yrs tenor : 4.7 yrs 10% 12% 13% 13% 13% 24% 6.6yrs 18% 21% 30% 26% 41% 68% 35% 3.9yrs 35% 31% 30% 33% 23
Slide 45: Lower structural funding gap provides funding flexibility
Lower structural funding gap provides funding flexibility For personal use only ANZ Westpac NAB CBA Loan – Deposit Ratio (%) 130% 158% 152% 141% Loan – Deposit Gap ($b) 100 186 165 156 Australia Household Funding Gap ($b) 112 193 124 171 ANZ has built a sustainable balance sheet Australian Household
Slide 46: Liquid assets of $115b provides a high level of coverage
Liquid assets of $115b provides a high level of coverage and significantly exceeds total offshore debt outstanding For personal use only AUDb 115 Liquidity portfolio exceeds total FY13 wholesale debt maturities and entire 91 38 offshore debt portfolio 81 75 75 31 15 19 31 13 9 62 62 47 35 Sep 10 Sep
Slide 47: Hedging has negated the impact on earnings of sustained $A strength
Hedging has negated the impact on earnings of sustained $A strength For personal use only FY12 Earnings Composition by Currency EPS Impact from Hedging Non AUD & NZD 20% 0.8% Hedges in place for ~50% FY13 TWD earnings MYR PGK 0.4% Other IDR CNY USD AUD 62% -0.1% NZD 18% -0.4% Hedges in place for ~60
Slide 48: Risk Management
For personal use only 12 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 25 October 2012 Investor Discussion Pack Risk Management
Slide 49: Credit quality in line with expectations
Credit quality in line with expectations For personal use only Credit Quality Trends Provision Charge $m Collective provision Charge • The provision charge of $1.25 billion was Individual Provision Charge Total Provision Charge as % Avg. net Advances broadly in line with last year, albeit the mix of
Slide 50: Exposure composition by Geography and Asset Class
Exposure composition by Geography and Asset Class For personal use only Exposure at Default by Geography Exposure at Default by Basel Asset Class (Sep 2012) (Sep 2012) Singapore Corporate & Sovereign Hong Kong Pacific Specialised Lending 4% Bank Residential Mortgage 1% Americas 3% UK Other South & E
Slide 51: Control Lists and Risk Grade Profiles
Control Lists and Risk Grade Profiles For personal use only BB+ and lower rated exposures by Control List Exposure at Default Control List by Limits Control List by No. Groups Index Sep 2008 = 100 29% 300 28% 250 27% 26% 200 150 6% 24% 23% 6% 100 6% 50 6% 13% 0 13% 5% 5% 12% 12% Sep-08 Sep-09 Sep-10
Slide 52: Continued improvement in Credit RWA rate
Continued improvement in Credit RWA rate For personal use only Exposure at Default and Credit Risk Weighted Assets Exposure at Default ($b) Credit Risk Weighted Assets ($b) CRWA / EAD (%) 47% 658 630 615 45% 564 552 550 512 522 42% 42% 41% 40% 40% 39% 258 249 250 255 230 220 234 233 1H09 2H09 1H10 2
Slide 53: Risk Weighted Assets
Risk Weighted Assets For personal use only Total Risk Weighted Assets Total Risk Weighted Assets ($b) Movement FY12 v FY11 ($b) Market & Operational Risk Weighted Assets 5.6 8.5 300.1 280.0 6.0 Credit Risk Weighted Assets 300 285 280 45 264 264 35 Sep 11 Credit Risk Market Operational Sep 12 31 Risk
Slide 54: Credit Risk Weighted Assets
Credit Risk Weighted Assets For personal use only Credit Risk Weighted Assets Credit Risk Weighted Assets ($b) Movement FY12 v FY11 ($b) Credit Risk Weighted Assets 14.2 254.9 248.8 Collective Provision as a % of CRWA (1.7) (2.8) (3.6) 1.38% 1.36% 1.32% 1.35% 1.28% 1.20% 1.06% 1.08% Sep 11 Growth Da
Slide 55: Impaired Assets by Division
Impaired Assets by Division For personal use only New Impaired Assets Net Impaired Assets $m $m 3,500 6,000 3,126 3,000 4,969 5,000 4,685 4,504 2,500 2,436 2,319 2,335 3,884 4,000 3,629 3,423 2,000 1,824 1847 3,000 1,500 2,000 1,000 1,000 500 0 0 1H10 2H10 1H11 2H11 1H12 2H12 Mar 10 Sep 10 Mar 11 Se
Slide 56: Gross Impaired Assets
Gross Impaired Assets For personal use only Gross Impaired Assets by Type Gross Impaired Assets by Size of Exposure Impaired Loans NPCCD Restructured > $100m $10-$99m < $10m $m $m 8,000 8,000 7,000 6,561 6,561 7,000 6,561 6,561 6,221 6,221 6,000 5,581 6,000 5,581 5,343 5,343 5,196 5,196 5,000 5,000
Slide 57: Individual Provision Charge
Individual Provision Charge For personal use only Individual Provision Charge Individual Provision Charge by Segment composition $m $m 1,200 1,500 1,062 912 762 609 717 1,062 594 1,000 1,000 912 500 0 762 800 717 -500 1H10 2H10 1H11 2H11 1H12 2H12 594 609 New Increased Writebacks & Recoveries 600 In
Slide 58: Collective Provision Charge
Collective Provision Charge For personal use only Collective Provision Charge by Source $m 500 (96) 331 36 (40) 65 (58) (152) (226) 400 300 200 100 0 -100 -200 -300 -400 1H09 2H09 1H10 2H10 1H11 2H11 1H12 2H12 Lending Growth Net Economic Cycle & Concentration Risk Profile Portfolio Mix 58
Slide 59: Collective Provision Charge by Source
Collective Provision Charge by Source For personal use only Lending Portfolio Economic Cycle & FY12 ($m) Risk Impact Growth Mix Concentration Total Australia Division 10 53 (22) (79) (38) International & (198) 90 10 (201) (299) Institutional Banking New Zealand Businesses (6) 4 (1) (42) (45) Global
Slide 60: Collective Provision Balance
Collective Provision Balance For personal use only Management overlay balance movement Collective Provision Balance ($m) 2H12 v 1H12 ($m) Modelled CP Charge Management overlay 862 3,500 44 3,000 2,500 6 597 198 2,000 29 1,500 1,000 500 0 1H10 2H10 1H11 2H11 1H12 2H12 1H12 Australia IIB NZ Other 2H12
Slide 61: Impaired Asset Concentration
Impaired Asset Concentration For personal use only Impaired Assets Concentration Impaired Assets Concentration by number of Customers by value of Impaired Assets Exposures >$10m Exposures >$10m 4% 3% 3% 3% 4% 2% 3% 4% 11% 22.4% 23.9% 19% 16% 26.7% 31.1% 20% 4.7% 11.4% 16.3% 11.2% 31.3% 27.4% 17.6% 2
Slide 62: Total lending exposures by Industry Sector
Total lending exposures by Industry Sector For personal use only Exposure at default (EAD) % in Non as a % of group total Category EAD Performing Sep-11 Sep-12 Sep-11 Sep-12 Consumer Lending 43.6% 41.0% 0.3% 0.3% 15% Finance, Investment & 14.5% 14.9% 0.3% 0.5% Insurance 8% Property Services 7.1% 7.5
Slide 63: Manufacturing
Manufacturing For personal use only Risk Rating Profile Total Exposure by Geography (EAD) (% of EAD) $b 40 30 20 42% 10 48% 57% 0 Sep-10 Sep-11 Sep-12 APEA Australia New Zealand 22% Exposure Mix by Geography (EAD) 26% 6% 6% 6% 6% 5% 5% 9% 9% 8% 8% 7% 8% 13% 13% 12% 17%12% 12% 30% 11% 14% 11% 16% 14%
Slide 64: Resources
Resources For personal use only Resources Total Committed Exposure (EAD) Resources Exposure by Geography (EAD) $b 12 10 8 13% 6 4 23% 2 0 Sep 10 Sep 11 Sep 12 18% Australia Non-Australia Resources Exposure by Geography (EAD) 18% Includes Iron Ore 7% 5% Australia 15% 28% New Zealand 62% Asia Oil & Ga
Slide 65: Commercial Property Credit Exposure
Commercial Property Credit Exposure For personal use only Commercial Property Exposure Commercial Property Exposure GLA by Region by Sector: Australia $b 35 8.0% Offices 28% 30.0 30.0 Retail 29.3 7.8% 30 28.2 27.8 26.1 3.4 3.4 Residential 0.8 1.1 3.1 28% 7.6% 25% Industrial 25 1.0 6.1 5.8 5.0 4.9 5.
Slide 66: Australia 90+ day delinquencies
Australia 90+ day delinquencies For personal use only Australia Retail 90+ day delinquencies Total Mortgage Portfolio NSW & ACT Mortgages QLD Mortgages VIC Mortgages WA Mortgages Total Credit Cards 2.0% 1.5% 1.0% 0.5% 0.0% Mar 08 Sep 08 Mar 09 Sep 09 Mar 10 Sep 10 Mar 11 Sep 11 Mar 12 Sep 12 Austral
Slide 67: Australia Division - Commercial
Australia Division - Commercial For personal use only Exposure at default (EAD) Commercial Australia Security Cover by industry sector (%) 13.5% 5.8% 8.4% 42% 42% 43% 46% 49% 16.5% 5.7% 4.9% 15.9% 4.1% 24% 23% 2.0% 23% 3.3% 27% 1.3% 26% 17.9% 10% 11% 11% 0.6% 10% 5% 5% 5% 10% Property Services Agric
Slide 68: Australia Division – Mortgages
Australia Division – Mortgages For personal use only Portfolio Statistics Dynamic Loan to Valuation Ratio Total Number of Mortgage Accounts 848k % Portfolio Total Mortgage FUM $182b 60% Portfolio >90% LVR 50% = 5% (Sep-12) % of Total Australia Region Lending 60% 40% % of Total Group Lending 43% 30%
Slide 69: New Zealand Businesses
New Zealand Businesses For personal use only Net impaired assets Total provision charge NZDm NZDm 1.89% 400 351 300 165 98 119 1.63% 200 102 89 1.49% 100 0 1.31% 1.34% -100 1H10 2H10 1H11 2H11 1H12 2H12 1.09% IP Charge CP Charge 1,669 1,442 90+ Days arrears 1,298 1,153 1,165 Mortgages Commercial 1 R
Slide 70: Australia Division
For personal use only 12 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 25 October 2012 Divisional Performance Australia Division
Slide 71: We're transforming the business to adapt to the changed banking environment
We‟re transforming the business to adapt to the changed banking environment For personal use only Domestic challenges ANZ Response Initiated productivity agenda focused on „right- Meeting changing customer expectations sizing‟ the business and reducing cost to serve • Customers want: • Expenses down
Slide 72: We are making good progress on our strategic agenda
We are making good progress on our strategic agenda For personal use only 1. Targeting high-value customer segments with tailored banking propositions Retail Traditional Banking Market Share1 • Market share gains in traditional banking, affluent and (%) Market share – Traditional Banking household d
Slide 73: Australia Division – Financial performance
Australia Division – Financial performance For personal use only Australia division: Underlying profit1 Retail: Underlying profit1 $m $m 1,500 1,385 1,417 1,475 3,000 1,000 815 2,492 692 730 660 2,500 2,390 2,297 500 0 2,000 FY10 FY11 FY12 1H11 2H11 1H12 2H12 1,500 Commercial: Underlying profit1 1,2
Slide 74: Australia Division – Financial performance
Australia Division – Financial performance For personal use only Underlying NPAT movement – FY12 v FY11 $m 142 9 53 2,492 57 45 2,390 Up 4% FY11 Net Other Expenses Provisons Tax and FY12 Interest Income OEI Underlying NPAT movement – 2H12 v 1H12 $m 19 176 22 1,305 48 51 1,187 Up 10% 1H12 Net Other E
Slide 75: Australia Division – Net Interest Margin
Australia Division – Net Interest Margin For personal use only • Net interest margin has declined since Net Interest Margin 1H10, primarily impacted by: $m % Deposit margins adversely impacted by 3,700 2.65 increased competition for deposits driven by regulatory and funding requirements 3,600 2.60
Slide 76: Building greater productivity into our business
Australia Division - Building greater productivity into our business For personal use only Strategy Australia Division • Sustainable cost reduction through strategic Cost to Income Ratio (%) transformation and simplification initiatives Digital online and mobile channels 48% Branch network recon
Slide 77: Australia Division – Operating Income and Expenses
Australia Division – Operating Income and Expenses For personal use only Operating income movement FY12 v FY11 $m 265 426 12 7,118 6,967 553 Up 2% FY11 Volume Asset Pricing Funding Costs Other FY12 Operating expenses movement FY12 v FY11 $m 60 2,893 35 39 2,836 Up 2% FY11 Personnel Projects & Other
Slide 78: Australia Division – Operating Income and Expenses
Australia Division – Operating Income and Expenses For personal use only Operating income movement HOH $m 226 105 18 3,658 3,531 115 8 163 3,460 156 12 Down 2% Up 6% 2H11 Volume Asset Pricing Funding Other 1H12 Volume Asset Pricing Funding Other 2H12 Costs Costs Operating expenses movement HOH $m 39
Slide 79: Retail – Delivering a distinctive customer proposition
Retail – Delivering a distinctive customer proposition and transforming the distribution network For personal use only 1. Delivering tailored offerings across banking targeting high value customer segments Household Lending Growth1 • Customer segment strategy focusing on Young Indexed Mar 2010 = 100
Slide 80: Retail – Financial performance
Retail – Financial performance For personal use only Underlying NPAT movement – FY12 v FY11 $m 4 • Net interest income increased by 2% YOY through 83 36 growth in mortgage lending and margin 1,475 management, partially offset by the impact of declining deposit margins and higher funding costs 38 27
Slide 81: Retail – Balance Sheet
For personal use only $b Sep 11 180.7 Mar 12 189.4 Mortgages 3.6 Consumer cards & Unsec. 0.5 Lending Customer Lending Other 0.2 Retail – Balance Sheet Sep 12 192.7 81 $b Sep 11 87.3 Mar 12 91.9 Mortgage Offset 1.0 Deposits 4.7 Customer Deposits Other 0.1 Sep 12 97.6
Slide 82: Retail – Branch network reconfiguration
Retail – Branch network reconfiguration: improving customer experience and lowering cost to serve For personal use only • A new branch design with sales capabilities Re-defining the retail customer aligned to changing customer demand experience with technology enabled, open plan branches… • Becoming
Slide 83: Retail – Right sizing our branches and increasing sales capability
Retail – Right sizing our branches and increasing sales capability For personal use only • A circa 5 year program, 46 branches to be completed in Calendar 2012 • Align our branch footprint to changing customer demand and improve productivity (more complex activities performed in branch, better custo
Slide 84: Retail – Developing new channels
Retail – Developing new channels in line with shifting customer preferences For personal use only • Growing customer preference for self-service Intuitive next generation channels with digital transactions accounting for online platforms… more than 64% of all ANZ transactions processed • Generating
Slide 85: Retail – Mortgages
Retail – Mortgages For personal use only Portfolio Statistics Dynamic Loan to Valuation Ratio Total Number of Mortgage Accounts 848k % Portfolio Total Mortgage FUM $182b 60% Portfolio >90% LVR = 5% (Sep 12) 50% % of Total Australia Region Lending 60% 40% % of Total Group Lending 43% 30% 20% Owner Oc
Slide 86: Retail – Mortgages by channel
Retail – Mortgages by channel For personal use only Sales mix • Strengthening the sales capability of our network as part of the Banking on Australia program • New automated mortgages platform largely rolled out across the network 45% 49% 51% 49% • Broker originated mortgages remain an 54% 54% 63% i
Slide 87: Commercial – Leveraging our regional footprint
Commercial – Leveraging our regional footprint and growing the customer base For personal use only 1. Growing through customer acquisition and increased cross-sell Cross-sell income • Focusing on acquiring new-to-bank customers Strong cross-sell revenue growth Targeting trading businesses with mor
Slide 88: Commercial – Capitalising on our super regional capabilities
Commercial – Capitalising on our super regional capabilities For personal use only 1. Increased client awareness of our super regional strengths and upskilled staff Cross-border referrals • Demonstrated our leading renminbi (RMB) capabilities to 700 customers and staff across 6 69% increase 579 stat
Slide 89: Commercial – Improving productivity and customer experience
Commercial – Improving productivity and customer experience For personal use only • Enhancing frontline sales productivity by simplifying processes and systems to provide ANZ OneSwitch more time with customers has simplified customer • Simplified customer on boarding with ANZ OneSwitch - 1 form, 1 s
Slide 90: Commercial – Financial performance
Commercial – Financial performance For personal use only Underlying NPAT movement – FY12 v FY11 $m • Net interest income up 3% YOY driven by balance 5 sheet growth and margin management, partially offset 65 17 by lower margins on deposits 1,017 973 24 19 • 3% expense growth from salary increases and
Slide 91: Commercial – Balance Sheet
Commercial – Balance Sheet For personal use only Customer Lending Customer Deposits $b $b 0.3 0.0 52.0 0.8 43.2 1.0 0.6 1.0 0.9 40.8 0.4 49.3 39.7 47.8 0.0 Business Business Esanda Other Commercial Sep 12 Sep 11 Mar 12 Business Business Esanda Commercial Sep 11 Sep 12 Mar 12 Banking Banking Banking
Slide 92: Commercial – Provisions
Commercial – Provisions For personal use only Provision charge • Increased provision charge reflects increased lending volume in addition to softening of $m economic conditions across a number of Total provision charge ($m) sectors 250 1.00% 192 107 110 173 0.90% 200 • The provision charge for 2H12
Slide 93: Commercial – Total lending exposures by sector
Commercial – Total lending exposures by sector For personal use only Exposure at default (EAD) Category EAD % in Non Performing by industry sector (%) Sep 12 Mar 12 Sep 11 Sep 12 Mar 12 Sep 11 Property services 15.9% 15.0% 14.7% 1.1% 1.0% 1.0% 13.5% Agriculture, forestry & 16.5% 17.0% 17.0% 6.6% 5.8
Slide 94: Commercial – Risk grade profiles
Commercial – Risk grade profiles For personal use only • The Commercial book is well secured with Commercial Australia Security Cover 72% of Commercial lending book being more than 80% secured • Security Indicator (SI) profiles have decreased slightly from Sep-11, reflecting underlying changes in pr
Slide 95: Australia Division – Balance sheet
Australia Division – Balance sheet For personal use only Net Loans and Advances Deposits $b 244.7 $b 215.0 228.5 250.0 250.0 200.0 200.0 127.0 140.8 150.0 150.0 111.0 100.0 100.0 50.0 50.0 0.0 0.0 Sep 10 Sep 11 Sep 12 Sep 10 Sep 11 Sep 12 Commercial Retail Commercial Retail Funding $b 11.4 12.0 18.2
Slide 96: Australia Division – Deposits
Australia Division – Deposits For personal use only Customer deposit composition FY12 deposit growth 100% $b Retail Commercial 9% 9% 9% Up 12% Up 9% 11% 11% 11% 0.3 140.8 2.3 80% 0.1 0.7 12% 13% 12% 1.9 4.6 0.3 60% 22% 23% 25% 1.6 Progress 2.0 Saver up 86% YOY 127.0 40% Up 11% 45% 44% 43% Decreased
Slide 97: Australia Division – Outlook
Australia Division – Outlook For personal use only Revenue growth Revenue • Above system growth in mortgages in FY12 6% provides good balance sheet momentum leading into FY13 3% • Targeting to grow lending at or above system 0% 1% in FY13 • Disciplined management of margins in FY12 to continue in FY
Slide 98: International & Institutional Banking (IIB)
For personal use only 12 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 25 October 2012 Investor Discussion Pack International & Institutional Banking (IIB)
Slide 99: International & Institutional Banking (IIB)
International & Institutional Banking (IIB) For personal use only A new division that combines Global Institutional and Asia Pacific, Europe & America Divisions (APEA) International & Institutional Banking Division (IIB) Global Institutional Banking Asia Pacific, Europe & America Transaction Global
Slide 100: IIB – growing in line with strategy
International & Institutional Banking – growing in line with strategy For personal use only • Super Regional strategy continues to build Income Growth FY12 v FY11 momentum IIB Division Geographies Growing in our priority markets 16% 14% Delivering greater cross-border connectivity 6% 2% With t
Slide 101: Connectivity is a key differentiator driving cross-border income growth
Connectivity is a key differentiator for ANZ, driving cross-border income growth around the network For personal use only Cross-Border Income FY12 Europe & America Asia Pacific Australia / New Zealand 40% 25% 13% 12% 8% 4% Referred Received Referred Received Referred Received Total FY12 Cross-Border
Slide 102: Increasing geographic diversity and contribution of value added and flow products
Increasing geographic diversity and increasing contribution of value added and flow products For personal use only Income Mix by Product Income Mix by Geography Deposit Mix by Geography Transaction Banking & Markets Sales 2012 2012 2012 6% 22% 14% 8% 17% 10% 43% 35% 54% 41% 2010 16% 2010 50% 2010 51
Slide 103: Significant growth in APEA against currency translation headwind
Significant growth in APEA has been achieved against currency translation headwind For personal use only Asia Pacific, Europe & America Asia Pacific, Europe & America Income & Expenses (USDm) Contribution to Group Income Income Expenses Driving 25 to 30% of Group Income YOY JAWS +4% earnings by 2017
Slide 104: Super regional strategy giving access to growth
Super regional strategy giving us access to growth not available from a domestic only strategy For personal use only Institutional Operating Income Institutional Operating Income Major Australian Banks CAGR 2H09 – 1H12 AUDb ANZ Institutional APEA 8.0 ANZ Institutional Aust / NZ Domestic Peers 21% 7.
Slide 105: APEA franchise is a key driver of income growth
APEA franchise is a key driver of income growth For personal use only International & Institutional Banking Global Institutional Income by Geography Income (AUDm) Movement FY12 v FY11 (AUDm) 1 Institutional Australia / New Zealand APEA 5,320 293 6,592 6,190 5,842 4,961 76 10 2,800 2,453 2,067 FY11 A
Slide 106: Shifting our business model in response to the changing environment
Shifting our business model in response to the changing environment in Australia and New Zealand For personal use only Institutional Australia & New Zealand Institutional Australia & New Zealand Margin & Balance Sheet Trends Lending Income Mix Lending Deposits NIM ex Mtks (RHS) Value Added Lending T
Slide 107: Margin impacted by higher wholesale funding costs and competition
Margin impacted by higher wholesale funding costs and competition for deposits and lending in Australia For personal use only IIB Net Interest Margin Movement 2H12 v 1H12 (bps) NII & Volume Growth Institutional Australia 195 FY12 v FY11 2H12 v 1H12 -3% NII 8 -5% 14 176 11 AIEA 6% 4% 4 7 Institutiona
Slide 108: Adapting to the new environment with a lower cost business model
Adapting to the new environment by creating a more efficient, lower cost business model For personal use only IIB FTE Movement1 16,625 16,121 Sep 2011 Support Retail Institutional Institutional Regional Hubs Sep 2012 Australia / NZ APEA IIB HOH Expense Growth (FX Adj) IIB Expense Growth 2H12 v 1H12
Slide 109: Productivity focus drove reduction in expenses 2H12
Productivity focus drove reduction in expenses 2H12 against more challenging macro environment For personal use only IIB NPAT(AUDm) IIB NPAT Movement FY12 v FY11 (AUDm) 1 Institutional Australia / New Zealand APEA 227 2,372 2,301 175 176 2,372 2,301 2,047 134 21 744 908 Expenses Provisions OOI NII F
Slide 110: Return on Equity maintained in faster growing regions and products
Return on Equity maintained in faster growing regions and products For personal use only IIB Product IIB Geography Return on Regulatory Capital1 (%) Return on Regulatory Capital1 (%) 20% 16% Global Markets IIB Division 22% 14% 21% Institutional 22% Transaction Banking New Zealand 21% 19% 14% 17% Glo
Slide 111: APEA franchise strengthens group balance sheet
APEA franchise a differentiator in volume growth and continues to strengthen group balance sheet For personal use only IIB Customer Deposits & Lending IIB Deposit Movement 2H12 v 1H12 Customer Deposits Customer Lending AUDb 8.8 0.8 142.7 AUDb Loan to Deposit 160 Ratio 75% 15% CAGR 142.7 132.8 0.2 0.
Slide 112: Well diversified and high quality assets in APEA
Well diversified and high quality assets in APEA For personal use only Institutional APEA Risk Grade profile Institutional APEA Asset Composition by Exposure at Default Total External Assets Sep 2012 AUD95b Due from Other Financial Liquid Institutions Assets 26% 11% 71% 76% AAA-BBB 75% 75% Derivativ
Slide 113: Impaired Assets have continued to decline
Impaired Assets have continued to decline, provision charge growth driven by legacy exposures in Australia For personal use only Global Institutional Provision Charge Global Institutional Provision Charge Movement 2H12 v 1H12 AUDm 66 8 3 264 AUDm 2H12 Includes Large Single 187 700 Names 600 500 432
Slide 114: Transaction Banking
Transaction Banking For personal use only Trade & Supply Chain - continuing to leverage regional trade network and build customer Trade & Supply Chain franchise in FY12 Total Limits & Transaction Volumes1 Income1 up +34% to $464m AUDb Funded Exposures „000‟s 50 Unfunded Exposures 600 Client grow
Slide 115: Global Markets
Global Markets For personal use only • APEA continued to show strong growth with total Global Markets Income by Activity income up 26% YOY and now represents 40% of Markets income AUDm Sales Trading Balance Sheet • Sales income was up 9% YOY due to a broadening 1,500 of our client base with Capital
Slide 116: Debt Capital Markets
Debt Capital Markets For personal use only Asian Capital Markets platform delivering Corporate and frequent issuer bonds growth league table rankings • Building deeper relationships in Asia with key Category Q3 2012 2011 distribution clients - hedge funds, pension funds sovereigns, life insurers and
Slide 117: Retail Banking Asia Pacific & Commercial Banking Asia
Retail Banking Asia Pacific & Commercial Banking Asia For personal use only Retail Banking Asia Pacific Retail Asia Pacific Customer Deposits & Lending (AUDb) • Customer deposits and lending grew 17% and 27% year-on-year in Asia Customer Deposits Customer lending 13 13 • In 2012 on-boarded 27,574 ne
Slide 118: Asia Partnerships
Asia Partnerships For personal use only Asian Partnerships NPAT Movement FY12 v FY11 (AUDm) 35 120 347 10 10 318 330 227 31 6 126 1 1 FY11 Sacombank Accounting FY11 Earnings FY12 Gain on BoT Dilution SSI Accounting FY12 Reported Impairment Adjustments Adjusted Growth Adjusted Sacombank Gain Impairme
Slide 119: Impact with our clients is recognised across the region
The impact we are achieving with our clients is recognised across the region For personal use only Institutional Retail GREENWICH LARGE CORPORATE PETER LEE ASSOCIATES LARGE PETER LEE ASSOCIATES LARGE CORPORATE AND INSTITUTIONAL CORPORATE AND INSTITUTIONAL 12TH CAPITAL OUTSTANDING PRIME AWARDS FOR BA
Slide 120: We are winning value added and substantial flow transactions
We are winning greater value added and substantial flow transactions For personal use only Value-added transactions Substantial Flow transactions Hyundai Capital Alibaba Group All Chinese Banks BP Capital Markets BHP Billiton Origin Energy Services Holdings 52 tons AUD175m (USD3.0bn) Senior Eurobond
Slide 121: New Zealand Businesses
For personal use only 12 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 25 October 2012 Divisional Performance New Zealand Businesses
Slide 122: The New Zealand simplification strategy is delivering
The New Zealand simplification strategy is delivering For personal use only Most convenient Change in Customer Satisfaction • We have the most branches and the most ATM‟s. 7 new 6% 5% branches opened in growth areas since the simplification 4% programme began 1% 1% 2% 0% -1% • Increasing the number
Slide 123: A strong financial performance for New Zealand Businesses
A strong financial performance for New Zealand Businesses For personal use only Simplification driving productivity gains Income growth continues to exceed cost • Profit up 2% HOH (PBP +0.3%), 11% YOY (PBP up 4%) growth • Operating expenses down 1% HOH through simplification, productivity gains and
Slide 124: Net Interest Margin – New Zealand Businesses
Net Interest Margin – New Zealand Businesses For personal use only NIM movement 2H12 v 1H12 • Net interest margin increased 11bps YOY bps 3 266 • HOH margin decline resulted from increased competition for deposits, higher wholesale 2 4 funding costs 259 3 • Movement also impacted by balancing 9 Down
Slide 125: Good growth in Balance Sheet
Good growth in Balance Sheet For personal use only Net Loans and Advances Up 3% • Increased 3% HOH with Retail and Small Business NZDb 100 85.5 85.4 87.9 Banking growing at greater than system due to a focus on mortgages and the small business 80 segment 60 40 • Retail lending up 2% HOH and 1% YOY 2
Slide 126: Credit quality improving
Credit quality improving For personal use only Net Impaired Assets Total provision charge NZDm 1.91% NZDm 1.65% 400 349 1,667 1.51% 1.32% 1.36% 300 1,436 1,295 1.11% 165 98 119 1,148 1,158 200 101 89 979 100 0 -100 1H10 2H10 1H11 2H11 1H12 2H12 Mar 10 Sep 10 Mar 11 Sep 11 Mar 12 Sep 12 IP Charge CP
Slide 127: Retail segment – increase focus on sales and customer service
Retail segment – increase focus on sales and customer service is delivering For personal use only Improved distribution Market Share • More branches in growth catchments • Capacity released through simplification reinvested to increase number of Home Loan Specialists and 32% Mobile Mortgage Bankers
Slide 128: Strong Retail financial performance
Strong Retail financial performance For personal use only Underlying profit Underlying Profit • NPAT performance up 5% HOH, 24% YOY NZDm 176 168 Cost management focus 146 131 • Operating income flat HOH and up 5% YOY • Operating expenses down 3% HOH, 1% YOY Growth momentum through simplification and
Slide 129: CommAgri – simplification strategy
CommAgri – simplification strategy focusing on leveraging scale and connectivity For personal use only Leverage our scale Better connectivity with strong growth in • Implemented a simplified and more efficient cross sell into other ANZ businesses operating model aligned to customer needs delivering
Slide 130: Small Business Banking – simplification strategy
Small Business Banking – simplification strategy driving strong growth in this important segment For personal use only • Small Business Banking is an important Growing Market Share segment in New Zealand, where 90% of businesses employ 5 or fewer staff (31% of employment) and constitute 44% of GDP 6
Slide 131: Commercial Segment – improvement in asset quality
Commercial Segment1 – improvement in asset quality delivering a better return For personal use only Underlying Profit Underlying Profit • NPAT up 1% HOH, 4% YOY as the Agri portfolio NZDm continues to deleverage improving the quality 307 295 305 of earnings and returns 293 Improvement in credit qual
Slide 132: New Zealand Geography – strong balance sheet and funding
New Zealand Geography – strong balance sheet and funding For personal use only Strong Balance Sheet Growth A Strong and Stable Bank NZDb • Funding gap improved by $1.6b YOY, Loan to 120 160% Deposit Ratio down 6 percentage points to 95.5 93.6 93.8 96.1 100 145% 80 64.2 66.1 150% 62.8 62.0 • Increase
Slide 133: Short Term Strategic Priorities – management of brand merge
Short Term Strategic Priorities – management of brand merge For personal use only • We announced that the ANZ and The National Bank We made sure the market was ready for the (NBNZ) will come together and the NBNZ brand will be new ANZ phased out over the next two years • Our simplification strategy
Slide 134: Global Wealth and Private Banking Division
For personal use only 12 FULL YEAR RESULTS AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 25 October 2012 Divisional Performance Global Wealth and Private Banking Division
Slide 135: Global Wealth and Private Banking (GWPB)
Global Wealth and Private Banking (GWPB) For personal use only • A new division that combines Global Wealth and Private Banking across Australia, New Zealand and the Asia Pacific • Responsible for delivering investment, superannuation, insurance and advice solutions and private banking services to o
Slide 136: Global Wealth and Private Banking – Financial performance
Global Wealth and Private Banking – Financial performance For personal use only Underlying NPAT movement – FY12 v FY11 $m 457 5 17 451 12 4 12 Down 1% FY11 Net Other Expenses Provisons Tax and FY12 Interest Income OEI Underlying NPAT movement – 2H12 v 1H12 $m 4 13 245 27 206 - 5 Up 19% 1H12 Net Othe
Slide 137: Wealth – Business performance
Wealth – Business performance For personal use only Funds under management • NPAT up 19% HOH but down 1% YOY (end of period) • Net funds management and insurance income up $b 4% HOH and 2% YOY 52 52 51 Better performance in insurance income and investment earnings, partially offset by lower 50 49
Slide 138: For personal use only
For personal use only The material in this presentation is general background information about the Bank‟s activities current at the date of the presentation. It is information given in summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or p
Australia and New Zealand Banking Group — FY2012 Earnings Presentation on 6ix