Ann: FLLYR: ANB: ANZ New Zealand delivers for cus

• Release Date: 29/10/13 12:13
• Summary: FLLYR: ANB: ANZ New Zealand delivers for customers in 2013
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					ANB
29/10/2013 10:13
FLLYR

REL: 1013 HRS ANZ Bank New Zealand Limited

FLLYR: ANB: ANZ New Zealand delivers for customers in 2013

ANZ New Zealand (Note 1) has delivered significant improvements for customers
and made strides towards its goal of being New Zealand's best bank since last
year's brand and technology merger, the bank said in announcing its 2013 full
year results today.

Australia and New Zealand Banking Group Limited (ANZ) 2013 full year results
show a lift in performance for ANZ New Zealand with statutory profit of
NZ$1.37 billion, up 8% on the previous year.

Cash profit (Note 2) was NZ$1.44 billion, up from $1.29 billion. Productivity
and credit quality improvements were key features of the result with expenses
down 13% and the provision charge declining 66%.

ANZ New Zealand Chief Executive Officer David Hisco said: "Twelve months
after we created the new ANZ our customers are already enjoying better
products and services.

"Our business performance has been built on simplifying our products,
improving processes and systems and delivering a better banking experience
for customers. We have concentrated investment on our brand, sales training,
branch coverage and digital capability.

"As well as delivering productivity gains, this investment has driven market
share increases in mortgages and credit cards and strong growth in small
business banking, while maintaining high customer satisfaction," Mr Hisco
said.

Key points (Note 2)
- Statutory profit of $1.37 billion, up 8% on the previous year
- Cash profit of $1.44 billion, up 12% compared with the previous year
- Reduction of cost to income ratio from 47.7% to 42.5%
- Lower credit impairment provision charges and further decrease in impaired
assets
- Growth of 3.6% in lending driven by above market increase in mortgages
- Growth of 6.8% in customer deposits
- Staff engagement at record high

"Our improved, simpler product range is award-winning, and is helping to
increase the time frontline staff have available to spend with customers.

"Since we began simplifying the business, we have increased branch coverage*
from 75% to 82%, including a presence in eight more communities across New
Zealand, while reducing branch costs.

"We are now focused on delivering the benefits of being New Zealand's most
convenient and connected full-service bank while still looking to drive
further efficiency and returns.

"As the new ANZ, our commitment to New Zealand is stronger than ever, as is
our desire to invest, support our customers and play our part in this
country's economic growth.

"We've done a lot since the merger but there's still much more to do," Mr
Hisco said.

ANZ's New Zealand shareholders will continue to obtain the benefit of New
Zealand imputation credits with 10 New Zealand cents per ordinary share of
New Zealand imputation credits to be attached to ANZ's 2013 final dividend of
91 Australian cents per share announced today.

In FY13, the new ANZ has:

Made progress towards its goal of being New Zealand's best bank:

- Significantly increased brand consideration, leading to market share growth
in mortgages and credit cards
- Improved and simplified its product range, which now includes more 5-star
CANSTAR rated credit cards than any other bank
- Been named as New Zealand's best-managed bank by international industry
magazine The Asian Banker, and named CANSTAR Agribusiness Bank of the Year
for the second consecutive year

Delivered super regional capability and backed New Zealand businesses:

- Hosted customer tours to India, Hong Kong and China, creating opportunities
for New Zealand exports
- Pledged $500 million for lending to support the creation of new small and
medium-sized enterprises that will generate jobs and assist economic growth.
Around 10,000 start-up accounts were opened during the year
- Supported farmers in need through a Drought Relief Package, and helped 360
farmers establish their first farming business

Delivered market-leading digital banking services:

- Launched ANZ Transactive(TM) Mobile for Android and iPhone, allowing
commercial and institutional customers to remotely monitor real-time account
balances, view current and prior-day transactions, approve and release
payments and obtain dynamic FX rates
- ANZ goMoney(TM) is currently the most downloaded banking app in the
country. The ANZ FastPay(TM) merchant app which enables merchant transactions
via smartphone launches soon
- Improved the Send Money Overseas service to make it quicker and easier for
cross-border payments with ANZ's consumer Internet Banking portal

* Branch coverage represents the areas in which ANZ is represented relative
to where New Zealanders do business

The attached Media Release contains a table of key financial information.

(Note 1) ANZ New Zealand represents all of Australia and New Zealand Banking
Group Limited's (ANZ's) operations in New Zealand, including ANZ Bank New
Zealand Limited, its parent company ANZ Holdings (New Zealand) Limited and
the New Zealand branch of ANZ.

(Note 2) Statutory profit has been adjusted to exclude non-core items to
arrive at cash profit, the result for the ongoing business activities of ANZ
New Zealand.  All comparisons in Key Points are on a cash profit basis and
relate to the preceding year unless otherwise stated. Refer to Summary of Key
Financial Information for details of reconciling items between cash profit
and statutory profit.

For media enquiries contact:
Pete Barnao
Communications Manager, Media
Tel: +64-9-252 6623 or +64-27-277 3139
Email: [email protected]
End CA:00242969 For:ANB    Type:FLLYR      Time:2013-10-29 10:13:25