14. Exchange Rates

Exchange rates

Statement of
Financial Performance

Statement of
Financial Position
Spot as at

Average
Half Year to

Sep 03

Mar 03

Sep 03

Sep 02

Sep 03

Mar 03

Sep 02

British Pounds

0.4022

0.3626

0.3824

0.3622

0.4072

0.3828

0.3474

Euros

0.5742

0.5554

0.5648

0.5798

0.5850

0.5571

0.5528

United States Dollars

0.6494

0.5757

0.6125

0.5324

0.6804

0.6038

0.5440

New Zealand Dollars

1.1255

1.1028

1.1142

1.1992

1.1446

1.0908

1.1565

Impact on Statement of Financial Performance of exchange rate movements on the ongoing operations result

Year to September 2003 since September 2002 Favourable/(unfavourable)	Europe $m	New Zealand $m	United States $m	Asia $m	Total $m

Net interest income	(128)	54	(40)	(10)	(124)
Other operating income	(60)	33	(13)	(4)	(44)
Other operating expenses	92	(41)	13	8	72
Charge to provide for doubtful debts	16	(1)	5	(1)	19
Income tax expense	22	(12)	2	1	13

Cash earnings from ongoing operations	(58)	33	(33)	6	64

Year to September 2003 since March 2003 Favourable/(unfavourable)	Europe $m	New Zealand $m	United States $m	Asia $m	Total $m

Net interest income	(132)	(8)	(17)	(5)	(162)
Other operating income	(61)	(5)	(5)	(2)	(73)
Other operating expenses	97	6	6	4	113
Charge to provide for doubtful debts	16	-	2	(1)	17
Income tax expense	22	2	1	1	26

Cash earnings from ongoing operations	(58)	(5)	(13)	(3)	(79)

Impact on Statement of Financial Position of exchange rate movements on the September 2003 ongoing operations

Since September 2002 increase/(decrease)	Europe $m	New Zealand $m	United States $m	Asia $m	Total $m

Housing	(2,419)	99	(2)	(116)	(2,438)
Term Lending	(3,389)	123	(868)	(505)	(4,639)
Overdrafts	(1,792)	12	(18)	-	(1,798)
Leasing	(1,259)	-	-	(8)	(1,267)
Credit cards	(313)	9	-	-	(304)
Other	(1,872)	24	(561)	(93)	(2,502)

Gross loans and advances	(11,044)	267	(1,449)	(722)	(12,948)
Other assets	(5,722)	55	(3,429)	(821)	(9,917)

Total assets	(16,766)	322	(4,878)	(1,543)	(22,865)

Deposits and other borrowings	(10,415)	218	(2,863)	(720)	(13,780)

Since March 2003 increase/(decrease)	Europe $m	New Zealand $m	United States $m	Asia $m	Total $m

Housing	(976)	(511)	-	(65)	(1,552)
Term Lending	(1,312)	(591)	(451)	(212)	(2,566)
Overdrafts	(720)	(51)	-	-	(771)
Leasing	(492)	(2)	-	(4)	(498)
Credit cards	(114)	(44)	-	-	(158)
Other	(1,138)	(125)	(116)	(14)	(1,393)

Gross loans and advances	(4,752)	(1,324)	(567)	(295)	(6,938)
Other assets	(2,782)	(258)	(819)	(531)	(4,390)

Total assets	(7,534)	(1,582)	(1,386)	(826)	(11,328)

Deposits and other borrowings	(3,730)	(1,045)	(1,570)	(471)	(6,816)

14. Exchange Rates

Impact on Statement of Financial Performance of exchange rate movements on the ongoing operations result

Impact on Statement of Financial Position of exchange rate movements on the September 2003 ongoing operations

Share price

NAB

NABHA