Results by Line of Business

	Half Year to		Year to		Favourable / (Unfavourable) Change on Sep 00
	Sep 01 $m	Mar 01 $m	Sep 01 $m	Sep 00 $m	%	excluding fx impact %
On-Going Core Operations
Banking & Other Financial Services
Business & Personal Financial Services (1)	1,102	1,128	2,230	2,054	8.6	6.0
Specialist & Emerging Businesses	132	134	266	309	(13.9)	(16.7)
National Shared Services (1)	(40)	(30)	(70)	(153)	54.2	52.7
Other Lines of Business (2)	69	(41)	28	(55)	large	large
Retail Banking and Other Financial Services	1,263	1,191	2,454	2,155	13.9	9.9
Wholesale Financial Services	338	347	685	596	14.9	10.2
Banking & Other Financial Services
before significant items (1)	1,601	1,538	3,139	2,751	14.1	9.5
significant items, after tax	-	-	-	(65)	large	large
Wealth Management (3)
before significant items	313	364	677	291	large	large
significant items, after tax	-	-	-	(71)	large	large
Earnings on Excess Capital (4)	78	16	94	100	(6.0)	(6.0)
Net profit before goodwill from On-Going Core Operations	1,992	1,918	3,910	3,006	30.1	25.8
Non-Core & Disposed Operations
HomeSide
before significant items	114	65	179	141	27.0	5.8
significant operating items, after tax	(589)	(734)	(1,323)	-	large	large
significant non-operating items	(2,294)	-	(2,294)	-	large	large
Michigan National	-	156	156	291	(46.4)	(53.7)
Disposal of Michigan National (5)
Net profit on sale	1,681	-	1,681	-	large	large
Other Non Core Operations	(42)	(12)	(54)	-	large	large
Net profit/(loss) before goodwill from Non-Core and Disposed Operations	(1,130)	(525)	(1,655)	432	large	large
Net profit before goodwill	862	1,393	2,255	3,438	(34.4)	(26.9)
Goodwill amortisation	69	98	167	197	(15.2)	(15.2)
Net profit attributable to outside equity interests	1	4	5	2	large	large
Net profit attributable to members of the Company	792	1,291	2,083	3,239	(35.7)	(27.7)

1. Comparatives have been restated to reflect the current organisation structure, such that HomeSide Australia activities are now classified within Banking & Other Financial Services (Business & Personal Financial Services, National Shared Services and Other). Comparatives have also been restated to reflect only the Ongoing core operations of Banking & Other Financial Services, with the writedown of e-commerce investments and the Vivid net operating loss reclassified as non-core activities.
2. 'Other' includes Corporate Centre, Balance Sheet Management units and Legal Entity. The movement in Other is driven by higher levels of net interest income resulting from lower interest rate driven funding costs. Favourable profitability to Balance Sheet Management units has accelerated in the second half as longer term borrowings are rolled over at lower rates.
3. MLC was acquired on 30 June 2000.
4. The earnings rate on excess capital for the half years to September 2001 and March 2001 were 5.55% and 5.73% respectively, and for the years to September 2001 and September 2000 were 5.68% and 6.74% respectively.
5. On 1 April 2001 the Group sold Michigan National Corporation in the United States to ABN Amro. Proceeds from the sale of US$2.75 billion (A$5,314 million) gave rise to a profit on sale after all disposal costs, including taxation, of A$1,681 million, and including realisation of foreign exchange movements, a total profit of A$2,799 million.