FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2006 CONSOLIDATED PERFORMANCE IN BRIEF
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NZ IFRS | NZ IFRS | NZ IFRS | NZ GAAP | NZ GAAP | NZ GAAP | |||||||||||||||||||
Unaudited | Audited | Audited | Audited | Audited | Audited | |||||||||||||||||||
For the Period ended | 31-Dec-06 | 30-Jun-06 | 30-Jun-05 | 30-Jun-04 | 30-Jun-03 | 30-Jun-02 | ||||||||||||||||||
$millions | 6 months | 12 months | 12 months | 12 months | 12 months | 12 months | ||||||||||||||||||
INCOME STATEMENT ($ MILLIONS) | ||||||||||||||||||||||||
Interest Income | 1,835 | 3,210 | 2,682 | 2,099 | 1,899 | 1,501 | ||||||||||||||||||
Interest Expense | 1,398 | 2,406 | 1,906 | 1,411 | 1,282 | 992 | ||||||||||||||||||
Net Interest Earnings | 437 | 804 | 776 | 688 | 617 | 509 | ||||||||||||||||||
Other Income | 190 | 344 | 268 | 249 | 234 | 215 | ||||||||||||||||||
Total Operating Income | 627 | 1,148 | 1,044 | 937 | 851 | 724 | ||||||||||||||||||
Impairment Losses on Advances | 4 | 19 | 16 | 21 | 25 | 18 | ||||||||||||||||||
Total Operating Income after Impairment Losses | 623 | 1,129 | 1,028 | 916 | 826 | 706 | ||||||||||||||||||
Total Operating Expenses | 267 | 495 | 470 | 446 | 407 | 371 | ||||||||||||||||||
Net Profit before Taxation | 356 | 634 | 558 | 470 | 419 | 335 | ||||||||||||||||||
Taxation | 106 | 194 | 179 | 153 | 141 | 110 | ||||||||||||||||||
Net Profit after Taxation | 250 | 440 | 379 | 317 | 278 | 225 | ||||||||||||||||||
BALANCE SHEET ($ MILLIONS) | ||||||||||||||||||||||||
Total Assets | 48,611 | 44,568 | 38,796 | 33,048 | 27,538 | 24,250 | ||||||||||||||||||
Advances (includes Money Market Advances and Advances to Customers before Collective Provision for Impairment) | 42,041 | 39,034 | 34,978 | 28,789 | 22,297 | 19,032 | ||||||||||||||||||
Collective Provision | 79 | 79 | 123 | 108 | 89 | 71 | ||||||||||||||||||
Specific Provisions | 2 | 1 | 9 | 9 | 10 | 7 | ||||||||||||||||||
Total Liabilities | 45,619 | 41,879 | 36,527 | 31,452 | 26,228 | 23,217 | ||||||||||||||||||
Deposits (includes Money Market Deposits, Deposits from Customers and Amounts Due to other Banks) | 44,206 | 41,066 | 36,050 | 30,832 | 25,621 | 22,680 | ||||||||||||||||||
SHAREHOLDER’S EQUITY ($ MILLIONS) | ||||||||||||||||||||||||
Shareholder’s Equity at End of Period | 2,992 | 2,689 | 2,269 | 1,596 | 1,310 | 1,033 | ||||||||||||||||||
Dividends: Ordinary | — | 860 | 43 | 25 | 195 | 10 | ||||||||||||||||||
Perpetual Preference | 16 | 30 | 16 | 10 | 6 | — | ||||||||||||||||||
PERFORMANCE | ||||||||||||||||||||||||
Return on Ordinary Shareholder’s Equity | 20.4 | % | 21.3 | % | 23.3 | % | 24.5 | % | 25.4 | % | 24.3 | % | ||||||||||||
Return on Total Average Assets | 1.1 | % | 1.1 | % | 1.1 | % | 1.1 | % | 1.1 | % | 1.0 | % | ||||||||||||
Net Interest Margin / Total Average Assets | 1.9 | % | 1.9 | % | 2.2 | % | 2.3 | % | 2.4 | % | 2.3 | % | ||||||||||||
Total Operating Expenses / Total Operating Income | 42.6 | % | 43.1 | % | 45.0 | % | 47.7 | % | 47.9 | % | 51.3 | % | ||||||||||||
Growth in Total Assets | 9.1 | % | 14.9 | % | 17.4 | % | 20.0 | % | 13.6 | % | 21.1 | % | ||||||||||||
PRUDENTIAL | ||||||||||||||||||||||||
Shareholder’s Equity as a percentage of Total Assets | 6.2 | % | 6.0 | % | 5.8 | % | 4.8 | % | 4.8 | % | 4.3 | % | ||||||||||||
Tier One Capital as a percentage of Total Risk Weighted Exposures | 9.7 | % | 9.8 | % | 9.6 | % | 8.2 | % | 8.1 | % | 7.4 | % | ||||||||||||
Total Capital as a percentage of Total Risk Weighted Exposures | 10.5 | % | 10.6 | % | 10.2 | % | 10.2 | % | 10.3 | % | 9.8 | % | ||||||||||||