Asset Quality

Total Impaired Assets

        As at Sep 01

        As at Mar 01

            As at Sep 00

Gross

Net

Gross

Net

Gross

Net

$m

$m

$m

$m

$m

$m

On-Going Core Operations

Australia

963

638

961

695

573

377

Great Britain

510

360

533

394

511

378

Ireland

185

149

158

115

135

98

New Zealand

42

33

61

46

66

54

United States

23

18

34

20

45

22

Asia

6

3

4

2

5

2

Total On-Going Core Operations

1,729

1,201

1,751

1,272

1,335

931

Non-Core and Disposed Operations

United States

HomeSide US

11

11

12

12

9

9

Michigan National

-

-

172

114

140

102

Total Non-Core and Disposed Operations

11

11

184

126

149

111

Total Impaired Assets

1,740

1,212

1,935

1,398

1,484

1,042

Summary of Impaired Assets

Sep 01

Mar 01

Sep 00

Mar 01

Sep 00

$m

$m

$m

%

%

Non accrual loans

1,732

1,919

1,467

(10)

18

Restructured loans

4

4

4

-

-

Assets acquired through security enforcement

4

12

13

(67)

(69)

Gross impaired assets

1,740

1,935

1,484

(10)

17

Less: Specific Provisions - non accrual loans

(528)

(537)

(442)

(2)

20

Net Impaired Assets

1,212

1,398

1,042

(13)

16

These amounts are not classified as impaired assets and therefore not included in the summary above.

As at

Change from

Sep 01

Mar 01

Sep 00

Mar 01

Sep 00

$m

$m

$m

%

%

Accruing loans past due 90 days or more with adequate security (net)

102

110

107

(7)

(5)

Accruing portfolio facilities past due 90 to 180 days (net)

60

16

30

large

large

Sep 01

Mar 01

Sep 00

%

%

%

Net impaired assets to total equity

5.1%

5.8%

4.9%

Net impaired assets to total equity plus

4.7%

5.5%

4.4%

general provision

Specific provision to gross impaired assets

33.7%

30.6%

31.7%

Total coverage ratio

160.5%

153.9%

182.8%

General provision to risk weighted assets

0.86%

0.82%

0.94%

Group Provisioning Coverage Ratios
(excluding Michigan National)

Sep 01

Mar 01

Sep 00

%

%

%

Net impaired assets to total equity

5.1%

5.6%

4.4%

Net impaired assets to total equity plus

4.7%

5.1%

4.0%

general provision

Specific provision to gross impaired assets

33.7%

30.3%

32.2%

Total coverage ratio

160.5%

146.6%

174.6%

General provision to risk weighted assets

0.86%

0.82%

0.88%