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Home > Shareholder centre > Financial results > 2000 First Quarter Financial Results > Results Highlights

Results Highlights

Profit & Loss

Quarter to
December September December % Change % Change
1999 1999 1998 Sep 99 Dec 98
$M $M $M to Dec 99 to Dec 99
Net interest income 1,567 1,538 1,520 1.9 3.1
Charge to provide for doubtful debts 108 107 128 0.9 (15.6)
Net interest income after charge to provide for doubtful debts 1,459 1,431 1,392 2.0 4.8
Other operating income 1,223 1,153 1,167 6.1 4.8
Total operating income 2,682 2,584 2,559 3.8 4.8
Other operating expenses 1,477 1,597 1,474 (7.5) 0.2
Operating profit before tax 1,205 987 1,085 22.1 11.1
Income tax expense 434 253 361 71.5 20.2
Operating profit after tax attributable to members 771 734 724 5.0 6.5
Distributions to holders of National Income Securities and Trust Units 45 30 15 50.0 large
Operating profit after tax attributable to ordinary shareholders 726 704 709 3.1 2.4

Balance Sheet

Quarter to
December September December % Change % Change
1999 1999 1998 Sep 99 Dec 98
$M $M $M to Dec 99 to Dec 99
Assets
Due from other financial institutions 9,333 11,120 8,863 (16.1) 5.3
Due from customers on acceptances 23,921 22,851 22,481 4.7 6.4
Trading securities 16,491 12,853 13,258 28.3 24.4
Investment securities 11,100 8,951 10,503 24.0 5.7
Loans and advances (net) 170,056 165,620 163,141 2.7 4.2
Mortgage servicing rights 5,975 5,345 3,642 11.8 64.1
Other 36,034 27,341 34,258 31.8 5.2
Total assets 272,910 254,081 256,146 7.4 6.5
Liabilities
Due to other financial institutions 19,057 16,203 20,619 17.6 (7.6)
Liability on acceptances 23,921 22,851 22,481 4.7 6.4
Deposits and other borrowings 170,516 162,468 163,857 5.0 4.1
Bonds, notes and subordinated debt 13,575 13,437 12,159 1.0 11.6
Other 26,469 20,602 20,568 28.5 28.7
Total Liabilities 253,538 235,561 239,684 7.6 5.8
Total Shareholders' Equity 19,372 18,520 16,462 4.6 17.7

Key Performance Measures

*All figures are in A$ millions
unless otherwise stated.		 Quarter to
December September December
1999 1999 1998
Earnings (1)
Earnings attributable to ordinary shareholders 726 704 709
Basic earnings per ordinary share 48.8c 47.5c 48.9c
Diluted earnings per ordinary share 47.5c 46.2c 47.3c
Return on average assets 1.08% 1.14% 1.09%
Return on average shareholders' funds 17.84% 17.80% 18.51%
Cash Earnings (2)
Cash earnings 776 759 760
Basic earnings per share 52.1c 51.2c 52.4c
Return on average tangible assets 1.17% 1.25% 1.18%
Return on average tangible shareholders' funds 23.20% 23.57% 24.80%
Productivity Measures
Underlying profit 1,313 1,094 1,213
Underlying profit per full time equivalent employee (to nearest A$) $116,766 $95,805 $104,474
Operating profit per full time equivalent employee (to nearest A$) $68,565 $64,279 $62,357
Non interest income per full time equivalent employee (to nearest A$) $108,762 $100,972 $100,512
Operating costs per full time equivalent employee (to nearest A$) $126,904 $135,038 $122,561
Net Interest Income
Group net interest spread 2.41% 2.45% 2.41%
Group net interest margin 2.92% 3.00% 2.95%
Non Interest Income
Non interest income to total net income 43.8% 42.8% 43.4%
Non interest income to total net income (excluding impact of life insurance standard) 42.7% 42.8% 43.4%
Non Interest Expenses (excluding goodwill)
Cost/income ratio 51.1% 57.3% 53.0%
Cost/income ratio (excluding impact of life insurance standard) 51.7% 57.3% 53.0%
Operating costs to total assets 2.09% 2.43% 2.22%
Operating costs to total assets (excluding life insurance business) 2.13% 2.43% 2.22%
Bad and Doubtful Debts
Total provision charge to operating profit 14.0% 14.6% 17.7%
Specific provision balance to total assets 0.2% 0.2% 0.2%
Specific provision balance to risk weighted assets 0.3% 0.2% 0.2%
Capital
Tier 1 ratio 7.79% 7.78% 6.46%
Tier 2 ratio 2.78% 2.85% 3.00%
Deductions (0.35%) (0.28%) (0.26%)
Total capital ratio 10.22% 10.35% 9.20%
Risk weighted assets 201,412 197,096 197,815
Asset Quality
Gross non-accrual loans to gross loans and acceptances 0.9% 0.8% 0.9%
Net non-accrual loans to risk weighted assets 0.5% 0.6% 0.5%
Shares
Net tangible asset backing per ordinary share $9.18 $8.67 $8.70
Weighted average shares on issue ('000) 1,486,199 1,472,144 1,450,598

(1) Based on earnings attributable to ordinary shareholders
(2) Cash basis calculations are based on earnings attributable to ordinary shareholders and exclude goodwill and related amortisation expense