Item No.51704 05.2004 W51955

www.anz.com

contact:04
shareholder update

1

Shareholders

1

Chairman’s Report

3Interim Results

3

NBNZ Update

5

CEO’s Review

7

Community

7

Making a difference to financial literacy

9

Saver Plus

9

Community Development Finance

10

ANZ Community Fund

10

Seeds of Renewal

10

Environmental Sustainability

11

Staff

11

Chief Operating Officer

11

Segment Reorganisation

11

ANZ awarded Best Bank

12

Customers

12

ANZ Mortgage Solutions

12

Customer Charter Update

12

Important Dates

Greg Clark joins ANZ Board
Effective 1 February 2004, Mr Greg
Clark joined the ANZ Board. Mr Clark is
Principal of Clark Capital Partners,
a firm based in the United States thatadvises internationally on technology
and the technology market place.
He holds a Bachelor of Science (Hons)from the University of Tasmania and a
PhD in Physics from the Australian
National University and is a fellow of
the Australian Academy ofTechnological Sciences andEngineering, the American PhysicalSociety, and the New York Explorers
Club. Mr Clark was a member of theAustralian Prime Minister’s Scienceand Engineering Council from 1992
until 1999.
In announcing Mr Clark’s appointment,
ANZ Chairman Mr Charles Goode said:“We are delighted to have someone of
Mr Clark’s calibre and technologicalbackground join the Board. He brings
with him the benefits of international
experience and a distinguished careerin microelectronics, computing andcommunications. Mr Clark will
especially assist the Board in its
deliberations in the area of technology,
which is a complex area and one of the
major opportunities and challenges
facing banking in the 21st Century.”

John Morschel to join
ANZ Board
Effective 1 October 2004, Mr John
Morschel will join the ANZ Board.
Mr Morschel has a strong backgroundin banking and financial services andis one of Australia’s most experienced
company directors.
From 1993 until 2001, he was a
Director of Westpac Banking
Corporation, including two years as
Executive Director, where his
responsibilities included retail banking
and wealth management.
Mr Morschel is currently Chairman of
Rinker Group Limited and is a Directorof Rio Tinto plc, Singapore
Telecommunications Limited andTenix Pty Limited. Formerly he was
Chairman of Leighton Holdings
Limited, Chairman of CSR and
Chairman of Comalco Limited.
Previously Mr Morschel had adistinguished career with Lend Lease
Corporation where he was Managing
Director from 1988 to 1995. His otherroles at Lend Lease included Managing
Director of MLC from 1984 to 1988.
In announcing Mr Morschel’s
appointment, ANZ Chairman Mr Charles
Goode said: “Mr Morschel brings with
him the experience of being a directorof major Australian and international
companies and extensive experience inbanking and financial services.”

11$1312m$1207mChairman’s
ReportMar 04

Dear Shareholders

Sep 03$1141mMar 03$1102m
Sep 02$1066mMar 02

$975m

$895m
Mar 01

Sep 01$885m
Sep 00Mar 00$817m

Shareholders

A track record of strong profit growth:
Net Profit After Tax excluding
significant transactions“We have again
produced a solid,
consistent financial
performance andwe are creating
growth options forthe future.”

Enclosed with this edition of Shareholder
Contact is the advice of your 2004 Interim
Dividend. Your Directors were pleased toincrease the dividend by 11% (adjusted
for ANZ’s recent rights issue) to 47 cents
per share fully franked.
Your Board of Directors recognises
shareholders are looking for growth
as well as safety. The increase in
the dividend reflects a solid first half
driven by strong asset growth andprudent management of margins, risks
and capital.
Excluding significant transactions in thehalf, operating profit after tax was $1,312
million, up 15%. This includes fourmonths’ contribution from The National
Bank of New Zealand, which was acquiredin December 2003. The acquisition,
together with ANZ’s existing business in
New Zealand, has created the leadingbank in New Zealand and one of New
Zealand’s leading companies. It gives
ANZ a much stronger, more sustainable
and diversified domestic business base.
Integration of our New Zealand businessis on track.
In other areas, we have maintained
momentum in our specialist businesses.
Segments in the personal, small businessand corporate markets performed well.

The institutional segment was subdued,reflecting, in part, a strategic decision
to reduce risk with consequent earnings
sacrifice.
Costs were contained with our cost-toincome ratio at 45.1%, which continues
to place us among the most efficientbanks in the world. Risks continue toreduce. Net specific provisions were downby 24% to $196 million and trading risk
continued to be modest and remains thelowest of the major Australian tradingbanks. Our capital position remains
strong with the Group’s adjusted common
equity ratio at 5.2%, at the upper end of
our target range.
As we look to the period ahead, we
believe the global economic environment
will be positive and our strength inbusiness banking should be anadvantage. In this environment, ANZ isalso focused on how it continues tocreate sustainable profits and returns forshareholders over the longer term.
Overall, ANZ has recorded a solid result inthis half year. We are making good
progress around our business priorities.
We have again produced a solid,
consistent financial performance and weare creating growth options for the future.
We are confident this will enable us tocontinue to deliver value for you, ourshareholders.
Charles Goode23Interim results
ANZ interim cash earnings per share up 11%
In the six-month period ending 31 March 2004, ANZ recorded
a net profit after tax of $1,396, up 22% on the same period
last year. Earnings per share were 76.8 cents, up 11%.
Excluding significant transactions in the half, the profit
after tax was $1,312 million, up 15% on the same period lastyear. Underlying earnings (excluding significant items,
The National Bank of New Zealand-NBNZ and adjusting lastyear’s base earnings for TrUEPrS) were up 10%. Cash earnings
per share were 78.9 cents, up 11% on the same basis.
ANZ’s 2004 interim earnings include four months’
contribution from NBNZ which was acquired in
December 2003. The acquisition has been immediately
accretive to earnings per share for the Group. It has
increased the opportunity and lowered the averagebusiness risk for the Group.
Asset growth was particularly strong. Excluding NBNZ,
net loans and advances grew by 10%. Costs continued to
be well-managed and the cost-income ratio marginally
improved. Return on equity fell below 20%, mainly as aconsequence of the NBNZ acquisition.
Risk reduction continues to be a strategic priority. Net
specific provisions were down by 24%, net non-accrual loans
down by 14% and international assets 19% lower. Australia
and New Zealand now account for 93% of Group assets.
Trading risk continued to be modest, with total average value
at risk of $1.4 million for all trading activities in the half at
a 97.5% confidence level.
Compared with the strong second half of last year, firsthalf profits were up 16%. Excluding significant transactions
earnings were up 9%. Underlying earnings were up 4% andcash earnings per share excluding significant transactions
were up 5%.

Results Summary
Profit after tax (compared with first half 2003)> $1,396 million – up 22%> $1,312 million excluding significant
items– up 15%> $1,241 million underlying* – up 10%
Earnings per share 76.8 cents – up 11%
Cash EPS excluding significant transactions
78.9 cents – up 11%
Interim dividend 47 cents – up 11%(adjusted for rights issue)
Cost to income ratio 45.1% – down from 45.6%(excluding significant items)
Return on equity 18.4% – down from 20.3%(excluding significant items)
Risk reduced, sustainability improved> Net specific provisions $196 million – down 24%> International assets down 19%> Australia and New Zealand account for 93%
of total assets> Net non-accrual loans reduced by 14%> Average trading value at risk $1.4 million at
97.5% confidence
Profit after tax (compared with second half 2003)> Headline – up 16%> Excluding significant items – up 9%> Underlying* - up 4%> Cash EPS (excluding significant items) – up 5%* Excluding NBNZ, significant items and base adjusted for TrUEPrS.

NBNZ Update
In May ANZ received written advice from theReserve Bank of New Zealand confirming it
would consent to legal amalgamation of ANZ
New Zealand and The National Bank of New
Zealand (NBNZ).
On 26 June 2004, ANZ Banking Group (New
Zealand) Limited and The National Bank of
New Zealand Limited amalgamated into one
legally registered company called ANZ National
Bank Limited.
Legal amalgamation was a formal steprequired before integration of the twobusinesses could commence. ANZ’s strategy
remains to run the ANZ and NBNZ brands
and branch networks separately.
The Reserve Bank of New Zealand’s consent
was subject to a number of formal undertakings
made by ANZ. These included:> Ensuring the primacy of the New Zealand
Board of Directors in overseeing
management of the bank and ensuring
staff have primary responsibility to
theNew Zealand Managing Director andBoard of the bank.
> Location and operation of the bank’s
domestic systems in New Zealand andthe New Zealand Board having the practicalability to control the management andoperation of domestic and other systems
on a standalone basis in the event ofa crisis.

ANZ Chief Executive Officer Mr John McFarlane
said: “We have had a constructive dialogue with
the Reserve Bank of New Zealand over recent
months in order to meet both the regulator’srequirements and our business needs.
“Integration is on track. Last month, we
confirmed revenue synergies have been
upgraded while cost synergies are in line withthose disclosed in the rights issue prospectus,with newly identified cost synergies being
offset by some increased processing costs in
New Zealand.
“We have an outstanding leadership team in
New Zealand headed by Sir John Anderson. Our
integration plan delivers on our commitment for
the New Zealand business to be managed andstaffed locally and associated closely with thecommunity in New Zealand, while at the sametime having the benefits of being a close family
member of the ANZ Group,” Mr McFarlane said.

“We have an
outstanding
leadershipteam in
New Zealandheaded by Sir
John Anderson”.
45

CEO’s Review
ANZ Chief Executive Officer Mr John
McFarlane said: “ANZ has had a solid firsthalf driven by strong asset growth andprudent management of margins, risks
and capital.
“We have maintained momentum in our
specialist businesses. Segments in the
personal, small business and corporate
markets performed well. In particular, we
had better than expected results in
Consumer Finance where changes tocredit card programs following Reserve
Bank reforms were well managed, and in
Personal Banking, which benefited fromthe interest rate environment.
ING Australia showed substantial
improvement. Mortgages had strong
volumes but suffered substantial marginsqueeze. Institutional was subdued due
to adverse exchange rate movements anda strategic decision to reduce risk withconsequent earnings sacrifice.
“Geographically, our businesses inAustralia performed particularly well.
New Zealand businesses performed
respectably, despite significant
competitive attack and the normal
uncertainties associated with a major
acquisition. International earnings
increased despite unfavourable exchange
rate movements. Europe and North
America came off their cyclical lows.
Our Pacific businesses performed well,
but Asia was subdued.
“Banking is a complex and cyclicalbusiness. We recognise there areconcerns regarding the maturity of thebanking industry and its position in thiseconomic cycle, particularly with a risinginterest rate environment, a softening
housing and consumer sector and an
ongoing focus on corporate governance.
While the move towards stronger
regulation globally will have its positiveeffects, it also comes at a cost.
“At ANZ, we have taken considerable
steps to create a strong diversified
business foundation. We now have amuch stronger franchise across Australia,
New Zealand and the Pacific, with anumber of leading positions.
“I am satisfied with our progress on
integration in New Zealand. The
increased regulatory requirements
relating to the management of acrisis are understandable, given themarket share of the integrated bank.
I am confident our plans will satisfy
these requirements and achieve ourtargeted timetable and results for the
combined bank.
“Our risk domestically andinternationally, particularly in our
Institutional businesses, has been
reduced substantially such that overallrisk is approaching an optimal level.
“We will continue on our journey toimprove the growth and sustainability of
the Group and to lower risk while
maintaining earnings momentum. We
have a well-developed and demonstrated
execution capability, with world-classefficiency and a strong leadership andmanagement team that can manage thebusiness well across the cycle.

“ANZ
is nowa verydifferentbank.”“ANZ is now a very different bank. Our specialised
business model is unique. Our move to cluster our
specialist businesses around customers to develop
greater coherence and synergy, while maintaining
their individual vitality, should enable us to continue
to advance our strategic position.
“We also recognise shareholders are looking for
growth as well as safety. Notwithstanding its
challenges, we believe the domestic and international
environment is in a positive phase and our strength
particularly in the corporate area should be anadvantage in the period ahead. Going forward we will
have a greater emphasis on identifying and investingin organic growth opportunities, mostly in Australia.
“All in all, we believe the environment is sufficiently
favourable for us to be confident about our prospects
for the year as a whole,” Mr McFarlane said.

6

7

Community
ANZ is committed to making sustainable, meaningful contributions tothe communities in which we operate.
During the past 12 months we have focused our efforts toward issues
directly relating to financial services.
We also recognise the importance of supporting local causes; ourfrontline staff continue to connect with their local communities throughthe ANZ Community Fund and the Seeds of Renewal program.
ANZ strives to improve the well-being of our communities and weunderstand that by succeeding, we stand not only to gain, but tomaintain the community’s trust.

Making a difference tofinancial literacy
In May 2003 ANZ released its ground-breaking research into adultfinancial literacy levels in Australia.
Since then, ANZ has been working to ensure Australians are equipped
to make informed decisions regarding all aspects of their finances.
ANZ’s action plan for ‘Making a difference to financial literacy’ involves
three areas of commitment; to staff, customers and the community,
including:> Creating the most ‘financially fit’ workforce in Australia.
> Generating widespread community awareness of the need forfinancial literacy education.
> Developing innovative programs to improve financial literacy andfinancial inclusion in Australia.
> Ensuring products, services and customer communication are easy
to use and understand.

ANZ iscommitted
to makingsustainable,
meaningful
contributions
to thecommunities
in which
we operate.

Some of the progress ANZ has made includes:> Working with consumer representatives nominated by some ofAustralia’s leading financial counselling, credit reform and financial
regulatory services and authorities to produce MoneyMinded – anadult financial education program providing those facing financial
difficulty with financial skills for the future.
> Publishing ‘Kick-start your financial fitness’ – a resource forcustomers offering practical advice on how to effectively manage
money, including information and tips on saving, managing debt
and credit, investing, retirement planning and protecting assets.
> Hosting a visit to Australia by Professor Elaine Kempson, Social
Policy Researcher with the University of Bristol in the United
Kingdom, who has 17 years’ research experience in personal
financial services and household money management issues.
Professor Kempson met with a number of government policy
makers, consumer groups and bank representatives to discuss
Australian opportunities to further progress financial literacy.

A staff member and customer review the ‘Kickstart Your
Financial Fitness’ booklet> ANZ CEO and Chairman of the Australian Bankers Association
John McFarlane is the banking industry representative on the
Commonwealth Government’s Consumer and Financial Literacy
Taskforce, which will develop the first ever national strategy for
improving financial literacy.
Financial literacy is an essential skill for individuals to succeed within
modern society. By working to improve financial literacy ANZ aims tocontribute to the long-term well-being of individuals, and in turn, thebroader community.

John McFarlane and members of the Federal Government’s
Consumer and Financial Literacy Taskforce89

Saver Plus
Saver Plus is Australia’s first matched savings program, offering
more than 270 Australian families an additional two dollars for every
one dollar they save, up to $2000, for the purchase of secondary
education resources.
Saver Plus was developed by ANZ and the Brotherhood of St Laurence.
The pilot commenced in June 2003 in Frankston, Victoria and has since
been extended to Shepparton, Victoria, with Berry Street Victoria; andCampbelltown, New South Wales, with The Benevolent Society.
Saver Plus brings together strengths of the business andcommunity sectors to creatively address how those on low incomescan build savings.
Over the long-term, Saver Plus aims to assist participants begin asavings habit, become life-long savers and move toward greater
self-sufficiency.

Professor Elaine Kempson (seated, centre) with members of
the Saver Plus research and management teams

Financial training is an important feature of the program, as education
is a key element in facilitating change in spending and savings
habits. In the words of one participant (a single mother of two teenage
children): “The big benefit for me won’t be the matched $2000,
it will be changing the way I handle money. That can last a lifetime.”
The Saver Plus pilot is being evaluated by RMIT University. The interim
report is due in June and will be available on ANZ’s website.

Community
Development Finance
ANZ is considering Community Development Finance (CDF) opportunities
in Australia. CDF refers to financial services provided to people who may
have difficulty accessing these services through 'mainstream' channels.
It may include the provision of small loans, acceptance of small savings
deposits and financial literacy training.

ANZ staff in Smithton, Tasmania, helped raise funds
for the new Circular Head Community and Recreation Centre(Photo courtesy Circular Head Chronicle)

ANZ has released a discussion paper to scope the potential for CDF
programs in Australia. We have also commissioned research tounderstand the extent to which some people may struggle to accessmainstream financial services.
ANZ will publish the results of responses to the discussion paper andthe research in the second half of 2004.

ANZ Community Fund
The ANZ Community Fund recognises the importance of supporting local
community issues at a grassroots level. No two communities are thesame – the ANZ Community Fund empowers frontline staff to contributeboth financial and in-kind resources to help deliver local programsof value.
Following an 18-month pilot, the ANZ Community Fund was extended
nationally in December 2003. To date, more than $260,000 has beenspent and our people have participated in more than 160 local projects.
Two of these projects include:

Sprout Market Garden for the Disabled
ANZ staff in Collingwood, Victoria, have been working with theRichmond Fellowship of Victoria (RFV) to design and plant amarket garden. The ANZ Community Fund purchased materials
and seedlings for the garden and staff have volunteered tohelp RFV clients with mental disabilities create the market andsensory garden.

Circular Head Community and Recreation Centre
ANZ staff in Smithton, Tasmania, have helped raise funds for the new
Circular Head Community and Recreation Centre, by participating ina two-day 86-kilometre walk and making a contribution of $11,000
to the facility from the ANZ Community Fund. ANZ staff will continue
to volunteer for future working bees at the centre.

Seeds of Renewal

Environmental
Sustainability
ANZ is committed to identifying the impact of its
operations on the environment, as well as
understanding how existing and emerging
environmental issues may present either a riskor an opportunity for our business.
ANZ’s approach to environmental management isbased on creating value for society and shareholders
through strong financial growth on the basis ofenvironmentally responsible and sustainablebusiness practice.
In 2004 our focus and achievements have included:> Development of an Environmental Management
System (EMS) that is integrated into, and valueadding to, existing business strategy.
> Engagement with key external environmentalgroups to gain a better understanding of key
issues facing ANZ.
> Signatory to the Finance Initiative of the United
Nations Environment Program.
> Evaluation of opportunities for developing
new products and value-adding to existing
financial products that support environmental
sustainability.

Seeds of Renewal – a grants program for small, rural communities – isbeing offered by ANZ and the Foundation for Rural and Regional
Renewal (FRRR) for a second year.

> Initiatives for greater efficiency in the use ofnatural resources and hence waste minimisation,
decreasing direct environmental impacts andassociated operating costs.

Following the success of the program in 2003, in which more than$150,000 was distributed to more than 30 drought-affected
communities, the program has been offered in 2004 to all Australianrural communities with less than 15,000 people.

> A review of existing lending policies andprocedures to ensure that business risks arisingfrom financing in environmentally sensitive areas
are better understood.

This year’s theme is ‘Sustaining Rural Communities’ and almost$300,000 in small grants will be contributed to projects to improveeducation, youth, employment, training and health opportunities
in rural Australia.

> Maintained membership on the Dow Jones
Sustainability and FTSE4Good indices which
include the top financially performing companies
who have demonstrated social andenvironmentally responsible practice.

FRRR will assess all applications and in June 2004, ANZ and FRRR will
announce successful applicants.

10

StaffChief Operating Officer
In October Mr Bob Edgar was appointed to the position of Chief
Operating Officer reporting to the CEO, Mr John McFarlane.
In this newly created role Mr Edgar assists the CEO in managing
the business of ANZ, and is responsible for overseeing operational
business plans and performance. He will manage ANZ’s specialist
businesses on a day-to-day basis.

Segment Reorganisation
Personal Banking
Changes were made in April to Personal Banking, creating a newdivision which clusters all of ANZ’s specialised businesses
primarily serving personal customers.
Mr Brian Hartzer, formerly Managing Director Consumer Finance,
was appointed Group Managing Director Personal Banking.
This new division comprises Personal and Wealth Distribution,
Mortgages, Credit Cards, Merchant Services, Banking Products
and Rural Banking.
Mr Greg Camm, formerly Managing Director ANZ New Zealand, wasappointed Managing Director Personal and Wealth Distribution,
reporting to Mr Hartzer.

Institutional Banking
Mr Steve Targett, previously an executive director of Lloyds TSB,
was appointed Group Managing Director Institutional.
This division comprises Institutional Banking, Trade andTransaction Services, Foreign Exchange, Capital Markets andCorporate and Structured Finance. Institutional has responsibility
for these segments worldwide.

Corporate Banking
Mr Graham Hodges was appointed Group Managing Director
Corporate which comprises Corporate Banking, SME Banking
and now includes micro-business banking, previously part of
Personal Banking.

New Zealand
Sir John Anderson was appointed Managing Director of ANZ New
Zealand and Chief Executive of The National Bank of New Zealand.

Asia PacificThis division is headed by Mr Elmer Funke Kupper, who waspreviously Managing Director Personal Banking and WealthManagement Australia.
These divisional executives report to the Chief Executive Officer
and the Chief Operating Officer, as do Esanda, ING Australia andPrivate Banking, a new high-growth specialist business headedby Mr Michael Saadie, Managing Director Private Banking.
The changes were effective 1 May 2004.

11

ANZ awarded Best Bank 2004
ANZ has been named the Best Bank in Australia for 2004 at the
14th Annual Australian Banking and Finance Magazine Awards.
The awards recognise excellence in the delivery of financial
services and are determined by our peers across the industry.
This is a tremendous achievement made possible only through the
dedication and customer focus shown by our staff.
The award caps off a winning streak for ANZ. We have also beenrecognised in the following Awards:
Customer Service Institute of Australia’s Service Excellence Award
where ANZ was awarded:> Victorian Large Business Award for Service Excellence.
> Highly Commended in the national Large BusinessAward for Service Excellence.
A comprehensive set of criteria is used to assess entrants in theawards, including company philosophy, management andleadership, people, innovation and improvement, responsiveness,customer satisfaction and results and problem solving.
National Work and Family Awards
Highly Commended- Large Business Award for the mostoutstanding organisation with more than 500 employees.
An Australian government and business partnership, the awards
recognise excellence in work and family initiatives. The awards
were presented by Kevin Andrews, Federal Minister for
Employment and Workplace Relations.
Some of the initiatives at ANZ impressing the judges were:> Co-parent paid leave of one week.
> Employees can use paid sick leave to attend prenatal classes andadoptive meetings.
> Uncapped use of sick leave for Carer’s leave.
> Lifestyle leave enables employees to take up to four weeks
additional unpaid leave for any purpose including family
responsibilities, travel or study.

A new division that brings group level focus to ANZ’s diverse andgeographically spread businesses and customers across the region.

Customers
ANZ Mortgage Solutions

Customer Charter Update

ANZ Mortgage Solutions is a new initiative to develop a mortgage
franchise network within ANZ’s specialist Mortgages business.
ANZ will initially focus on establishing 15 franchises in Melbourne,
Sydney and Queensland by 1 July, with the view of rolling out 175
franchises nationally.

Highlights from the 2003 Customer Charter Annual Report
released in February 2004 include:

Franchisees will sell ANZ mortgage products exclusively, operating
within a defined geographic area. Primarily they will generate newcustomers from their own referral networks and be supported by
the ANZ Home Buyer’s Line for enquiries.
ANZ will provide franchisees with a complete business system
including training, technology, marketing and business support.
Mr Steven Heavey joins ANZ from Mortgage Choice as Head of ANZ
Mortgage Solutions and will have overall responsibility for the new
franchise distribution channel.
ANZ Managing Director Mortgages Mr Chris Cooper said:“ANZ Mortgage Solutions is a unique approach to developinga specialist mobile mortgages sales network that gives ANZ a
24-hour, 7-day-a-week customer service proposition.
The initiative is targeted at non-ANZ mortgage customers. Eachfranchisee will operate as a small business owner, leveraging
ANZ’s brand and award-winning mortgage products to introduce
new lending business we would not normally see.”

Important Dates
26 October 2004

> Annual Results
Announced

4 November 2004

> Ex Dividend Date

10 November 2004

> Record Date

17 December 2004

> Annual General Meetingin Melbourne> Payment of
Final Dividend> A strong performance in account opening for personal banking,personal loans and car loans.
> The average branch queue waiting time has fallen significantly
from 3 minutes in 2002 to 1.9 minutes in 2003.
> The target to answer calls to ANZ’s 13 13 14 customer service
number within 1 minute was achieved for 85% of calls in
2003, and improved to over 90% by the end of the year.
> A strong performance in 24-hour, 7-day accessibility ofelectronic channels including telephone and ATM banking
with availability consistently above 99%.
> 11% fewer complaints in 2003 than in 2002; marking asignficant improvement.
The four key service priorities for 2004 identified in the Annual
Report were:> Making faster progress on branch queues in peak periods –30% of customers were still waiting more than 5 minutes to beserved in a sample of branches.
> Continuing to reduce the number of complaints and answering
them much faster – while prompt action reduced the numberof complaints, only 56% of complaints received were resolved
within 10 working days, versus 70% in 2002.
> Reducing processing backlogs, particularly in mortgages – thebacklogs followed record home lending applications (up 131%in 2003) and resulted in $100,750 of fees being refunded tocustomers, compared with $26,260 refunded in 2002.
> Answering more calls within 1 minute – 85% of calls to ANZ’s
13 13 14 customer service number were answered within one
minute compared with 89% of calls in 2002. This wasprimarily the result of a significant increase in call numbers in
December 2002 and January 2003, following technology issues
that affected customers’ day-to-day banking. Performance has
improved significantly since then and was above 90% in the
final months of 2003.
A full copy of the ANZ Customer Charter Annual report can befound at www.anz.com.

12