Results Highlights

Profit & Loss

	Quarter to			Nine months to		YTD
	June 2000	March 2000	June 1999	June 2000	June 1999	June 2000/ June 1999
	$M	$M	$M	$M	$M	%
Net interest income	1,664	1,556	1,490	4,787	4,528	5.7
Other operating income	1,319	1,252	1,155	3,794	3,410	11.3
Total operating income	2,983	2,808	2,645	8,581	7,938	8.1
Other operating expenses	1,561	1,473	1,438	4,501	4,319	4.2
Underlying profit	1,422	1,335	1,207	4,080	3,619	12.7
Charge to provide for doubtful debts	155	142	156	415	465	(10.8)
Operating profit before tax	1,267	1,193	1,051	3,665	3,154	16.2
Income tax expense	438	391	354	1,263	1,068	18.3
Operating profit after income tax	829	802	697	2,402	2,086	15.1
Outside equity interests		-	-	-	(1)	large
Operating profit after tax attributable to members	829	802	697	2,402	2,087	15.1
Distributions to holders of National Income Securities and Trust Units(1)	51	48	15	144	44	large
Operating profit after tax attributable to ordinary shareholders	778	754	682	2,258	2,043	10.5

Balance Sheet

	As at
	June 2000	March 2000	September 1999	June 1999	% Change Sep 99	% Change Mar 00
	$M(1)	$M	$M	$M	to Jun 00	to Jun 00
Assets
Due from other financial institutions	13,682	13,097	11,120	10,613	23.0	4.5
Due from customers on acceptances	23,947	22,926	22,851	22,670	4.8	4.5
Trading securities	16,723	13,998	12,853	12,433	30.1	19.5
Investment securities	8,779	9,724	8,951	10,212	(1.9)	(9.7)
Loans and advances (net)	183,713	180,646	165,620	162,242	10.9	1.7
Mortgage servicing rights	6,941	6,670	5,345	4,959	29.9	4.1
Other	68,696	38,932	27,341	27,501	large	76.5
Total assets	322,481	285,993	254,081	250,630	26.9	12.8
Liabilities
Due to other financial institutions	28,873	23,560	16,203	17,884	78.2	22.6
Liability on acceptances	23,947	22,926	22,851	22,670	4.8	4.5
Deposits and other borrowings	175,993	175,688	162,468	157,938	8.3	0.2
Bonds, notes and subordinated debt	18,500	14,747	13,437	12,278	37.7	25.4
Other	54,569	29,153	20,602	21,717	large	87.2
Total Liabilities	301,882	266,074	235,561	232,447	28.2	13.5
Total Shareholders' Equity	20,599	19,919	18,520	18,183	11.2	3.4

⁽¹⁾ The June 2000 Balance Sheet includes the impact of MLC which was acquired on June 30 2000. A reconciliation between this Balance Sheet and the Balance Sheet excluding MLC related balances is included under the heading "Impact of the MLC acquisition on the Group Blalance Sheet" in section 3 "Detailed Financial Statements" of the full results announcement.

Key Performance Measures

		Quarter to			Nine Months to
All figures are in A$ millions unless otherwise stated.		June 2000	March 2000	June 1999	June 2000	June 1999
Earnings (1)
Earnings attributable to ordinary shareholders		778	754	682	2,258	2,043
Basic earnings per ordinary share		51.8c	50.5c	46.3c	150.7c	139.2c
Diluted earnings per ordinary share		50.3c	49.0c	45.5c	145.6c	136.7c
Return on average assets (2)		1.07%	1.09%	1.08%	1.07%	1.07%
Return on average shareholders' funds (2)		17.45%	17.03%	17.60%	17.42%	17.30%
Cash Earnings (3)
Cash earnings		879	802	733	2,550	2,193
Basic earnings per ordinary share		55.2c	53.8c	49.7c	160.5c	149.5c
Return on average tangible assets (2)		1.15%	1.17%	1.15%	1.16%	1.20%
Return on average tangible shareholders' funds (2)		21.90%	21.53%	23.60%	22.16%	22.50%
Productivity Measures
Underlying profit per full time equivalent employee (to nearest A$) (2),(4)		$126,597	$119,199	$106,283	$121,077	$106,224
Operating profit per full time equivalent employee (to nearest A$) (2),(4)		$73,804	$71,609	$61,375	$71,281	$61,257
Non interest income per full time equivalent employee (to nearest A$) (2)		$117,427	$111,788	$101,704	$112,590	$100,090
Operating costs per full time equivalent employee (to nearest A$) (2),(4)		$134,520	$127,235	$122,133	$129,179	$122,338
Net Interest Income
Group net interest spread		2.47%	2.39%	2.48%	2.43%	2.47%
Group net interest margin		2.95%	2.95%	2.97%	2.94%	3.02%
Non Interest Income
Non interest income to total net income		44.2%	44.6%	43.7%	44.2%	43.0%
Non interest income to total net income (excluding impact of life insurance standard)		43.6%	44.0%	43.7%	43.5%	43.0%
Non Interest Expenses (excluding goodwill)
Cost/income ratio (4)		50.7%	50.7%	52.4%	50.7%	52.5%
Cost/income ratio (excluding impact of life insurance standard)		51.0%	51.0%	52.4%	51.1%	52.5%
Operating costs to total assets (2)		2.03%	1.99%	2.21%	1.95%	2.22%
Operating costs to total assets (excluding life insurance business) (2)		2.08%	2.03%	2.21%	1.99%	2.22%
Capital
Tier 1 ratio		6.72%	7.72%	7.59%	6.72%	7.59%
Tier 2 ratio		4.03%	2.71%	2.95%	4.03%	2.95%
Deductions		(1.48%)	(0.45%)	(0.28%)	(1.48%)	(0.28%)
Total capital ratio		9.27%	9.98%	10.26%	9.27%	10.26%
Risk weighted assets		220,395	216,681	193,689	220,395	193,689
Asset Quality
Total bad and doubtful debt provision charge to operating profit (4)		18.7%	17.7%	22.4%	17.3%	22.3%
Specific bad and doubtful debt provision balance to risk weighted assets		0.2%	0.2%	0.2%	0.2%	0.2%
Total bad and doubtful debt provision to risk weighted assets		1.2%	1.2%	1.3%	1.2%	1.3%
Gross non-accrual loans to gross loans and acceptances		0.73%	0.77%	0.78%	0.73%	0.78%
Net non-accrual loans to risk weighted assets		0.49%	0.53%	0.54%	0.49%	0.54%
Shares
Net tangible asset backing per ordinary share (2)		$9.92	$9.52	$8.49	$9.92	$8.49
Weighted average shares on issue ('000) - basic		1,502,019	1,494,189	1,473,095	1,499,112	1,467,881
Weighted average shares on issue ('000) - diluted		1,601,358	1,599,394	1,566,875	1,606,437	1,541,015

⁽¹⁾ Based on earnings attributable to ordinary shareholders.

⁽²⁾ June 2000 key performance measures are based on data excluding MLC net assets, which were acquired on 30 June 2000 and therefore were not relevant to these performance measures in the current period. The balance sheet excluding MLC related balances is included under the heading "Impact of the MLC acquisition on the Group Balance Sheet" in Section 3 "Detailed Financial Statements" of this results announcement.

⁽³⁾Cash basis calculations are based on earnings attributable to ordinary shareholders and exclude goodwill and related amortisation expense.

⁽⁴⁾ Credit expenses associated with HomeSide's loans sold to third parties are now classified as a charge for doubtful debts. Comparatives have been restated to classify credit expenses, previously reported in General Expenses - Other, on a consistent basis with the current classification.