Consolidated Profit and Loss

	Quarter to			Half-Year to
	March	December	March	March	March	Half-Year
	1997	1996	1996	1997	1996	Change
	$M	$M	$M	$M	$M	%

Operating revenue	3,891	3,976	3,708	7,867	7,364	6.8

Interest income	3,091	3,163	2,984	6,254	5,957	5.0
Interest expense	1,815	1,847	1,732	3,662	3,454	6.0

Net interest income	1,276	1,316	1,252	2,592	2,503	3.6
Charge to provide for doubtful debts	66	39	104	105	162	(35.2)

Net interest income after provision for doubtful debts	1,210	1,277	1,148	2,487	2,341	6.2
Other operating income	800	813	724	1,613	1,407	14.6

Total operating income	2,010	2,090	1,872	4,100	3,748	9.4
Other operating expenses	1,181	1,169	1,143	2,350	2,237	5.1

Operating profit before abnormal items and tax	829	921	729	1,750	1,511	15.8
Abnormal gain (nil tax applicable)	-	-	-	-	-	-

Operating profit before tax	829	921	729	1,750	1,511	15.8
Income tax expense attributable to operating profit	273	339	244	612	512	19.5

Operating profit after income tax	556	582	485	1,138	999	13.9
Outside equity interests in operating profit after income tax	(1)	-	-	(1)	1	large

Operating profit after income tax attributable to members of the holding company	557	582	485	1,139	998	14.1

Retained profits at the beginning of financial period	6,201	5,621	4,142	5,621	3,625
Dividend provisions not required	27	-	30	27	30
Aggregate amounts transferred from reserves	11	-	5	11	9

Total available for appropriation	6,796	6,203	4,662	6,798	4,662
Dividends provided for or paid	675	-	626	675	626
Aggregate of amounts transferred to reserves	12	2	1	14	1

Retained profits at end of the financial period	6,109	6,201	4,035	6,109	4,035