Home | Shareholder centre | Financial results | 2003 Full Year Financial Results | Detailed Financial Information |
3. Net Interest Margins & Spreads
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Year to | Fav/ (unfav) change on |
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| Group | Sep 03 % |
Mar 03 % |
Mar 03 basis pts |
Sep 03 % |
Sep 02 % |
Sep 02 basis pts |
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| Gross interest spread (1) | 2.19 | 2.24 | (0.05) | 2.21 | 2.41 | (0.20) | ||
| Interest forgone on impaired assets | (0.03) | (0.02) | (0.01) | (0.03) | (0.02) | (0.01) | ||
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| Net interest spread (2) | 2.16 | 2.22 | (0.06) | 2.18 | 2.39 | (0.21) | ||
| Benefit of net free liabilities, provisions and equity | 0.34 | 0.34 | - | 0.35 | 0.28 | 0.07 | ||
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| Net interest margin (3) | 2.50 | 2.56 | (0.06) | 2.53 | 2.67 | (0.14) | ||
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| Net interest margin (excluding earnings on Excess Capital) |
2.49 | 2.52 | (0.03) | 2.50 | 2.60 | (0.10) | ||
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| Australia (4) | ||||||||
| Gross interest spread (1) | 2.39 | 2.33 | 0.06 | 2.37 | 2.67 | (0.30) | ||
| Interest forgone on impaired assets | (0.04) | (0.03) | (0.01) | (0.04) | (0.04) | - | ||
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| Net interest spread (2) | 2.35 | 2.30 | 0.05 | 2.33 | 2.63 | (0.30) | ||
| Benefit of net free liabilities, provisions and equity | 0.08 | 0.29 | (0.21) | 0.18 | 0.16 | 0.02 | ||
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| Net interest margin (3) | 2.43 | 2.59 | (0.16) | 2.51 | 2.79 | (0.28) | ||
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| Net interest margin (excluding earnings on Excess Capital) |
2.40 | 2.51 | (0.11) | 2.45 | 2.57 | (0.12) | ||
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| Europe (4) | ||||||||
| Gross interest spread (1) | 2.03 | 2.10 | (0.07) | 2.07 | 2.51 | (0.44) | ||
| Interest forgone on impaired assets | (0.02) | (0.02) | - | (0.02) | (0.02) | - | ||
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| Net interest spread (2) | 2.01 | 2.08 | 0.07 | 2.05 | 2.49 | (0.44) | ||
| Benefit of net free liabilities, provisions and equity | 0.52 | 0.49 | 0.03 | 0.50 | 0.45 | 0.05 | ||
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| Net interest margin (3) | 2.53 | 2.57 | (0.04) | 2.55 | 2.94 | (0.39) | ||
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| Other International (4) | ||||||||
| Gross interest spread (1) | 1.36 | 1.61 | (0.25) | 1.55 | 1.31 | 0.24 | ||
| Interest forgone on impaired assets | (0.03) | (0.02) | (0.01) | (0.02) | (0.02) | - | ||
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| Net interest spread (2) | 1.33 | 1.59 | (0.26) | 1.53 | 1.29 | 0.24 | ||
| Benefit of net free liabilities, provisions and equity | 0.50 | 0.11 | 0.39 | 0.23 | 0.14 | 0.09 | ||
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| Net interest margin (3) | 1.83 | 1.70 | 0.13 | 1.76 | 1.43 | 0.33 | ||
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| (1) |
Gross interest spread represents the difference between the average interest rate (inclusive of interest forgone on impaired assets) earned and the average interest rate incurred on funds. |
| (2) |
Net Interest spread represents the difference between the average interest rate earned and the average interest rate incurred on funds. |
| (3) |
Net Interest margin is net interest income as a percentage of average interest-earning assets. |
| (4) |
Australia, Europe and Other International include intragroup cross border loans/borrowings and associated interest. |
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Year to | Fav/ (unfav) change on |
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| By Division | Sep 03 % |
Mar 03 % |
Mar 03 basis pts |
Sep 03 % |
Sep 02 % |
Sep 02 basis pts |
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| Net interest margin | ||||||||
| Financial Services Australia | 3.11 | 3.18 | (0.07) | 3.14 | 3.45 | (0.31) | ||
| Financial Services Europe | 4.13 | 4.18 | (0.05) | 4.16 | 4.18 | (0.02) | ||
| Financial Services New Zealand | 2.65 | 2.78 | (0.13) | 2.71 | 2.61 | 0.10 | ||
| Corporate & Institutional Banking | 0.53 | 0.58 | (0.05) | 0.56 | 0.77 | (0.21) | ||
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| Net interest spread | ||||||||
| Financial Services Australia | 2.64 | 2.73 | (0.09) | 2.68 | 2.95 | (0.27) | ||
| Financial Services Europe | 3.83 | 3.82 | 0.01 | 3.82 | 3.73 | 0.09 | ||
| Financial Services New Zealand | 2.89 | 3.09 | (0.20) | 3.00 | 2.96 | 0.04 | ||
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