Consolidated Profit and Loss

	Three months to
	December	September	December	% Change	% Change
	1997	1997	1996	Sep 97	Dec 96
	$M	$M	$M	to Dec 97	to Dec 97


Operating revenue	4,485	4,301	3,976	4.3	12.8

Interest income	3,557	3,395	3,163	4.8	12.5

Interest expense	2,172	2,042	1,847	6.4	17.6

Net interest income	1,385	1,353	1,316	2.4	5.2

Charge to provide for doubtful debts	120	105	39	14.3	large

Net interest income after provision for doubtful debts	1,265	1,248	1,277	1.4	(0.9)

Other operating income	928	906	813	2.4	14.1

Total operating income	2,193	2,154	2,090	1.8	4.9

Other operating expenses	1,381	1,366	1,169	1.1	18.1

Operating profit before abnormal items and tax	812	788	921	3.0	(11.8)

Abnormal gain (nil tax applicable)	-	-	-	-	-

Operating profit before tax	812	788	921	3.0	(11.8)

Income tax expense attributable to operating profit	291	209	339	39.2	(14.2)

Operating profit after income tax	521	579	582	(10.0)	(10.5)

Outside equity interests in operating profit after income tax	(1)	(1)	-	-	-

Operating profit after income tax attributable to members of the holding company	522	580	582	(10.0)	(10.3)

Profit Restated to Exclude Amortisation of Goodwill

Operating profit after tax, before outside equity interests and amortisation of goodwill	558	615	617	(9.3)	(9.6)

Outside equity interests	(1)	(1)	-	-	-

Operating profit after tax and outside equity interests before amortisation of goodwill	559	616	617	(9.3)	(9.4)

Earnings per Share

Basic earnings per share	36.9c	39.8c	39.4c	(7.2)	(6.2)

Diluted earnings per share (1)	36.1c	38.8c	38.8c	(7.0)	(7.0)

(1)Diluted earnings per share includes the impact of options, partly paid shares and the potential conversion of exchangeable capital units.

Results Highlights
Review of Operations
Consolidated Balance Sheet
Consolidated Profit and Loss
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Consolidated Profit and Loss

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