Previous AGAAP |
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| 2006 $m |
2005 $m |
2004 $m |
2003 $m |
2002 $m |
2001 $m |
2000 $m |
1999 $m |
1998 $m |
1997 $m |
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| Financial Performance1 | ||||||||||||||
| Net interest income | 6,943 | 6,371 | 5,252 | 4,311 | 4,018 | 3,833 | 3,801 | 3,655 | 3,547 | 3,437 | ||||
| Other operating income | 3,146 | 2,935 | 3,267 | 2,808 | 2,796 | 2,573 | 2,583 | 2,377 | 2,142 | 2,110 | ||||
| Operating expenses | (4,605) | (4,340) | (4,005) | (3,228) | (3,153) | (3,092) | (3,314) | (3,300) | (3,442) | (3,502) | ||||
| Profit before income tax, credit impairment and non-core items1 | 5,484 | 4,966 | 4,514 | 3,891 | 3,661 | 3,314 | 3,070 | 2,732 | 2,247 | 2,045 | ||||
| Provision for credit impairment | (407) | (565) | (632) | (614) | (610) | (531) | (502) | (510) | (487) | (400) | ||||
| Income tax expense | (1,486) | (1,247) | (1,147) | (926) | (880) | (911) | (863) | (736) | (576) | (466) | ||||
| Minority interest | (4) | (3) | (4) | (3) | (3) | (2) | (2) | (6) | (9) | (8) | ||||
| Cash profit1 | 3,587 | 3,151 | 2,731 | 2,348 | 2,168 | 1,870 | 1,703 | 1,480 | 1,175 | 1,171 | ||||
| Non-core items1 | 101 | 24 | 84 | - | 154 | - | 44 | – | (69) | (147) | ||||
| Net profit after tax | 3,688 | 3,175 | 2,815 | 2,348 | 2,322 | 1,870 | 1,747 | 1,480 | 1,106 | 1,024 | ||||
| Financial Position | ||||||||||||||
| Assets2 | 335,771 | 300,885 | 259,345 | 195,591 | 183,105 | 185,493 | 172,467 | 152,801 | 153,215 | 138,241 | ||||
| Net Assets | 19,906 | 19,538 | 17,925 | 13,787 | 11,465 | 10,551 | 9,807 | 9,429 | 8,391 | 6,993 | ||||
| Tier 1 capital ratio3 | 6.8% | 6.9% | 6.9% | 7.7% | 7.9% | 7.5% | 7.4% | 7.9% | 7.2% | 6.6% | ||||
| Return on average ordinary equity4,5 | 20.1% | 19.0% | 17.8% | 20.6% | 21.6% | 20.2% | 19.3% | 17.6% | 15.9% | 17.2% | ||||
| Return on average assets 4 | 1.1% | 1.1% | 1.1% | 1.2% | 1.3% | 1.1% | 1.1% | 1.0% | 0.7% | 0.7% | ||||
| Cost to income ratio 6 | 45.6% | 46.6% | 45.3% | 45.1% | 46.0% | 48.0% | 51.7% | 54.5% | 60.9% | 63.1% | ||||
| Shareholder value – ordinary shares | ||||||||||||||
| Total return to shareholders (share price movement plus dividends) | 17.1% | 32.6% | 17.0% | 6.7% | 15.3% | 26.2% | 36.3% | 19.6% | –15.6% | 62.4% | ||||
| Market capitalisation | 49,331 | 43,834 | 34,586 | 27,314 | 26,544 | 23,783 | 20,002 | 16,045 | 13,885 | 17,017 | ||||
| Dividend | 125c | 110c | 101c | 95c | 85c | 73c | 64c | 56c | 52c | 48c | ||||
| Franked portion –interim | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 75% | 60% | 100% | ||||
| –final | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 80% | 60% | 100% | ||||
| Share price 7 –high | $28.66 | $24.45 | $19.44 | $18.45 | $19.70 | $16.71 | $12.87 | $12.11 | $11.52 | $11.08 | ||||
| –low | $22.70 | $19.02 | $15.94 | $15.01 | $15.23 | $12.63 | $9.18 | $8.12 | $7.65 | $6.79 | ||||
| –30 Sep | $26.86 | $24.00 | $19.02 | $17.17 | $16.88 | $15.28 | $12.70 | $9.80 | $8.62 | $10.79 | ||||
| Share information (per fully paid ordinary share) |
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| Earnings per share7 –basic | 200.0c | 169.5c | 153.1c | 142.4c | 141.4c | 112.7c | 102.5c | 86.9c | 69.7c | 65.8c | ||||
| Dividend payout ratio8 | 62.6% | 65.0% | 67.5% | 64.2% | 57.8% | 62.0% | 59.1% | 62.1% | 67.8% | 61.6% | ||||
| Net tangible assets9 | $8.53 | $7.77 | $7.51 | $7.49 | $6.58 | $5.96 | $5.49 | $5.21 | $4.98 | $4.59 | ||||
| No. of fully paid ordinary shares issued (millions) | 1,836.6 | 1,826.4 | 1,818.4 | 1,521.7 | 1,503.9 | 1,488.3 | 1,506.2 | 1,565.4 | 1,539.4 | 1,508.6 | ||||
| DRP issue price10 –interim | $26.50 | $21.85 | $17.84 | $18.48 | $19.24 | $15.05 | $11.62 | $10.95 | $10.64 | $9.77 | ||||
| –final | – | $23.85 | $19.95 | $16.61 | $18.32 | $18.33 | $14.45 | $11.50 | $10.78 | $9.92 | ||||
| Other information | ||||||||||||||
| Points of representation11 | 1,265 | 1,223 | 1,190 | 1,019 | 1,018 | 1,056 | 1,087 | 1,147 | 1,205 | 1,473 | ||||
| No. of employees (full time equivalents) | 32,256 | 30,976 | 28,755 | 23,137 | 22,482 | 22,501 | 23,134 | 30,171 | 32,072 | 36,830 | ||||
| No. of shareholders12 | 291,262 | 263,467 | 252,072 | 223,545 | 198,716 | 181,667 | 179,829 | 179,945 | 151,564 | 132,450 | ||||
1 ANZ excludes from cash profit significant items, abnormals, ANZ National Bank integration costs and volatility associated with fair value movements relating to economic hedges. ANZ excludes these items to provide a better indication of the core business performance. In addition, the 2005 result has been calculated on an AIFRS basis that is comparable with 2006 with the net effect of these adjustments included in non-core items, allowing readers to see the impact on 2005 results of accounting standards that have only been applied from 1 October 2005.
2 From 1998 to 2001, consolidated assets include the statutory funds of ANZ Life as required by an accounting standard. For the year 2004, consolidated assets include the statutory funds of NBNZ Life Insurance Limited. ANZ Life was sold in May 2002 and NBNZ Life Insurance Limited was sold on 30 September 2005.
3 Calculated in accordance with Australian Prudential Regulation Authority requirements effective at the relevant date.
4 Excludes non-core items and minority interest. The 2005 ratio has been calculated
on an AIFRS basis that is comparable with that of 2006.
5 For the periods 1997 to 2002 the return on average ordinary equity calculation accrues the dividend over the year. From 2003, dividends may no longer be accrued and are not included in the calculation of return on average ordinary equity.
6 Excludes non-core items. Periods prior to 2005 also exclude goodwill amortisation.
The 2005 ratio has been calculated on an AIFRS basis that is comparable with that
of 2006.
7 Periods prior to 2004 adjusted for the bonus elements of the November 2003
Rights Issue.
8 From 2003 the dividend payout ratio includes the final dividend proposed but not provided for in terms of AASB 1044 Provisions, Contingent Liabilities and Contingent Assets which was effective from the September 2003 financial year.
9 Equals shareholders equity less preference share capital, goodwill, software and other intangible assets. For periods prior to 2005, this equals shareholders equity less preference share capital and unamortised goodwill.
10 DRP represents Dividend Reinvestment Plan.
11 Includes branches, offices, representative offices and agencies.
12From 2000 onwards the number of shareholders does not include the number of employees whose only shares are held by ANZEST Pty Ltd as the trustee for shares issued under the terms of any ANZ employee incentive plan.