YOUR ANZYOUR WORLDSHAREHOLDER AND CORPORATE RESPONSIBILITY REVIEW

2010

We live in your world

CONTENTS04
CONTENTS
05
06
09
10
13

02 2010 Snapshot
16 Institutional Division
ANZ Operations
14 Review of Regions
04 Chairman’s Report
18 ANZ in Your World
Investor Snapshot
18 Corporate Responsibility
06 Chief Executive Officer’s Report
37 Five Year Summary
Chairman’s Report
22 Your Directors
09 Management Board
38 Your Directors
Five Year Summary
22 Directors Remuneration
10 Australia Region
39 Directors’ Remuneration
Chief Executive Officer’s Report
23 Executive Remuneration
12 New Zealand Region
40 Remuneration Overview
Our Management Board
24 Information for Shareholders
14 APEA Region
43 Information for Shareholders

3

Cover: James Riley, Relationship Manager and Jenny Fan,
Cover: Duistincidunt
lectus Banking,quis dui viverra
vestibulum
posuere.
AssistantManager,Business
Melbourne,
Australia
Pellentesa vestibulum.
Nguyen Kien Tri Nhan, Sales Officer, Ho Chi Minh City, Vietnam
Duis tincidunt lectus quis dui viverra vestibulum posuere.
Pellentesa vestibulum.

2010
SnapshotGroup NPAT (Reported) $m

53%

2010
2009

Total Employees (FTE)

4,501
2,943
1

Group NPAT (Underlying ) $m

33%

2010
2009

14%

5,025
3,772

8,388
7,385

Net Loans and Advances Including Acceptances $m

4%

2010
2009

37,687

Women in Management (%)

Group Profit Before Provisions (Reported) $m

2010
2009

46,917

2010
2009

360,816
345,769

38.4
36.8

2010
2009
2

Taxes Borne $m

2,530

2010
2009

2,115
3

Taxes Collected $m

2010
2009

3,27642,831

	A top 5 listed company on the Australian Stock Exchange with over 400,000 shareholders
and a market capitalisation of A$61 billion at 30 September 2010
A top 4 bank in Australia; the largest banking group in New Zealand and one of the
30 largest listed banks globally by market capitalisation
ANZ has operated in the Asian region for more than 40 years and has the largest presenceof any Australian bank in Asia and the Pacific
Assessed as the leading bank globally on the Dow Jones Sustainability Index for the
4th consecutive year and a member of the FTSE4Good
Long-term AA credit rated by Standard & Poor’s and a long-term Aa1 rated by Moody’s

Customer Deposits $m

11%

2010
2009

257,964
233,141

All information contained within this document is for the year ended
30 September 2010 unless otherwise stated. All figures in AUD unlessotherwise stated.

1. Adjusted for material items that are not part of the normal
ongoing operations of the Group including one-off gains and losses,
non-continuing businesses, timing differences on economic hedges
and acquisition related costs. 2. Taxes Borne: Immediate cost to ANZ;
Impact to the profit and loss account. 3. Taxes Collected: No cost to
ANZ. Collected from customers, suppliers and employees etc on behalfof the revenue authorities. 4. Includes policyholder tax of $215m.

3ChAIRMAN’S REpORt

ANZ delivered a strong outcome forshareholders in 2010 while also performingfor our customers and the community.

Our Performance

Expansion and Growth

ANZ’s statutory profit after tax for the year ended
30 September 2010 was $4.5 billion, up 53% reflecting astrong performance across the bank and lower provisions.
The final dividend of 74 cents per share is 32% higher
than 2009 and will bring the total dividend for the year to
126 cents per share fully franked, an annual increase of 24%.

During 2010, we continued to advance our super regional
strategy through organic growth and acquisitions.

Taking into account one-off items such as acquisition costs
and subsequent fair value adjustments, and hedging timing
differences our underlying profit for 2010 was $5 billion,
up 33%.
Revenue growth of 15% was solid while costs increased
by 17% reflecting the integration of acquisitions andcontinued investment in growth. Provisions reduced by
41% to $1.8 billion reflecting the improved economic
environment in Australia and New Zealand.
ANZ remains strongly capitalised with Tier 1 capital as
at 30 September 2010 at 10.1% and Core Tier 1 of 8.0%.
The Group is well placed to meet new capital standards
being developed by the Basel Committee on Banking
Supervision and the Australian Prudential Regulation
Authority.

In March 2010, we acquired the Landmark Financial Services
loan and deposit books from AWB bringing with it around$300 million in deposits and around $2.4 billion in lending.
It has taken our Regional Commercial business in Australia
to the number two market share position in agri-business.
We also completed the acquisition of the remaining 51%
of the ANZ-ING wealth management and life insurance
joint ventures in Australia and New Zealand that we did
not already own. It was pleasing to see that the businessperformed strongly during the year.
In Asia, we completed the acquisition of businesses fromthe Royal Bank of Scotland in six countries in Asia. A numberof key strategic milestones were also reached, including theestablishment of a locally incorporated subsidiary in China,
obtaining a qualifying full bank licence in Singapore andin-principle approval for a foreign bank licence in India.

Customers and the Community
During 2010, ANZ continued to deliver good outcomesfor our customers and the community. This is significant
given the expectations that shareholders and society haveof successful banks.

A MESSAGE FROM
JOhN MORSChEL
In Australia, we were ranked number one for retail customer
satisfaction while in Institutional we were rated number
one for ‘lead domestic bank relationships’ in Australia and in
New Zealand and we were named Bank of the Year by theInstitute of Finance Professionals. We were also assessed theleading bank globally by the Dow Jones Sustainability Index
for the fourth consecutive year.
Together with our financial performance, the good outcomes
we have achieved for our customers and the community
reflects the significant efforts of our management and staff
and I thank them for their contribution.
This year we have provided an integrated view of how ANZ
is managing financial and non-financial issues. This reflects
how we think about our business and our commitment togrowing responsibly.
By combining the Annual Shareholder Review and ourCorporate Responsibility Review we have simplified ourreporting and provided a more complete and balanced
picture of our performance and results.

Board Changes
Charles Goode retired in March 2010 after 18 years of
distinguished service on the ANZ Board including 15 as
our Chairman. Charles successfully oversaw an extraordinary
period of change at ANZ and made an outstanding contribution
to business and the community, not only in Australia, but in
the Asia Pacific region.

OutlookIn 2011, we expect Asia, excluding Japan, to grow at around
8% compared to less than 3% in the US and Europe. Australia
is expected to continue to perform well and in New Zealandthe recovery is gathering momentum for 2011.
Nevertheless, there is continuing uncertainty in the global
economic environment, particularly in the US and Europe
where the recovery remains fragile. At the same time,
all banks are facing higher funding costs and there areregulatory uncertainties associated with new capital andliquidity requirements.
Our super regional strategy positions us well but with
global economic growth likely to continue to be soft overthe medium term the environment remains challenging
to navigate.
2010 has marked the 175th anniversary of ANZ’s establishment
and we continue to grow and to strengthen the bank. We
have a clear direction and our results this year highlight the
momentum we have established. I believe we will continue
to deliver value and performance for our shareholders, ourcustomers and the community in 2011 and beyond.

JOHN MORSCHEL ChAIRMAN

4

Chairman’s Report

5ChIEF EXECUtIVE OFFICER’S REpORt

A MESSAGE FROMMIChAEL SMIththree years after setting out our super regional
ambition, our 2010 results have demonstrated
that ANZ is now consistently delivering on thepromises we made to our shareholders as wellas to our customers and the community.

Regional PerformanceOur 2010 result shows that ANZ has momentum in every
area of our business.

While our statutory profit for the full year was $4.5 billion,
up 53% our underlying business has performed strongly
across the board. We reported an underlying net profit1
after tax of $5 billion which was up 33%.

In Australia underlying profit1 grew 42%. Market share
growth was a feature, Retail lending was up 12% driven by astrong performance in mortgages and household customer
deposits was up 11%. We have achieved this while continuing
to improve our number one ranking on overall customer
satisfaction in our Retail business. Commercial Banking also
made a strong contribution with profit up 34%.

Our performance was assisted by the improved economic
environment in Australia and New Zealand, and by Asia’scontinued growth. The improved credit environment
saw provisions for bad and doubtful debts fall by 41%
to $1.8 billion. Importantly though, we had good growthin underlying profit1 before provisions which was up 6%.

In Asia Pacific, Europe and America, although 2010 was a yearof consolidation following the acquisition of businesses fromthe Royal Bank of Scotland and the six business integrations
we have completed in Asia during the year, earnings from ourpartnership investments and Institutional resulted in a 21%2
lift in underlying profit1 to US$620 million.

Our balance sheet management remains a strength. We
have a strong capital position and increasing diversity
in our sources of funding including continued growthin deposits in Australia and in Asia.

During the year we also achieved a number of milestones inour regional expansion plans including regulatory approval
for new or expanded banking licences in China, Singapore,
the Philippines and India.
Our Institutional business is now performing well with
underlying profit1 up 23% to $1.8 billion. Institutional’s strategy
is totally aligned to our super regional ambition and it isproviding a compelling and differentiated proposition for ourclients. We are investing strongly in the business’ future andthe results are showing though with inter-region client flows
up 10% in 2010 and flows into Asia from elsewhere in the
network up 20%.

6

ANZ is now a more predictable organisation
for shareholders and a better place for ourcustomers to do business.

In New Zealand, the economy began to stabilise during
the year, and a 48%2 decline in the provision charge was
the main driver of a 40%2 rise in underlying profit1 off a lowbase in 2009 to NZ$882 million. I’m optimistic about what
our business can do in New Zealand in 2011.

Distinctive Growth Strategy
We are also now making significant progress with ourstrategic ambition to become a leading super regionalbank in Asia Pacific.
In addition to our strong financial performance, we
completed the acquisitions in Australia, New Zealandand Asia which strengthened our activities in banking
and wealth management, and we continued to growour existing business.
By remaining strong through the financial crisis, we havebeen able to continue supporting our customers and tolook at further opportunities for growth.

It is pleasing that we are now increasingly recognised for ourgeographic diversification, which focuses on the world’s best
performing economies and the linkages that our corporate
and personal customers have with the Asia Pacific region.
To support this, we have continued to build a world-classteam of experienced bankers throughout the Company totake advantage of growth opportunities and to deliver on
our strategy.

Growing Sustainably
While performance often tends to focus on financial results,
over the long-term it is a reflection of how effectively we areserving our customers and contributing to the communities
where we operate. Our commitment to growing our business
responsibly is fundamental to our aspiration to become asuper regional bank.

Our strategy is clear and differentiated and it now makes
even more sense in the post-Global Financial Crisis world
where Asia, excluding Japan, is growing at around 8%
while economic growth in developed markets such as
the United States and Europe is around 2.5%.

In practice, this means understanding and responding to
the issues that matter to our customers and communities;
committing to the highest standards of corporate behaviour
in order to build trust with governments and regulators seeking
responsible businesses to operate in their countries; andprioritising those investors targeting well-managed companies
with superior prospects for medium to long-term growth.

ANZ is the only Australian bank to give shareholders amaterial exposure to Asia’s growth combined with significant
domestic businesses in Australia and New Zealand.

And, of course, increasingly the best employees want to workfor companies that are both financially successful and making
a sustainable contribution to society.

1. Adjusted for material items that are not part of the normal ongoing operations of the Group including one-off gains and losses, non-continuing businesses, timing differences on economic
hedges and acquisition related costs. 2. Measured in foreign currency terms.

Chief Executive Oﬃcer’s Report

7

REAChING
COMMON
GOALS

Being a banker in today’s rapidly evolving world involves
managing the financial risks and opportunities and carefullybalancing the economic, social and environmental aspectsof our decisions, giving due consideration to the short,medium and long-term impacts.

MANAGEMENt BOARD
A commitment to growing responsibly, however, is notwithout its challenges and at times can raise unrealistic
expectations about our ability alone to solve significant
issues facing society. During the year we responded toconcerns raised by stakeholders, including shareholders,regarding some of our financing decisions.
These issues bring into focus the complexity of what itmeans to be a banker in today’s rapidly evolving world.
It involves managing the financial risks and opportunities
and carefully balancing the economic, social andenvironmental aspects of our decisions, giving due
consideration to the short, medium and long-term impacts.
I am proud of our work to support customers facing financial
difficulty; assist communities affected by natural disasters;
and improve financial capability among people on low
incomes; together with the progress we have made in further
developing a culture of respect in our relationships with ourcustomers, employees, suppliers and communities in every
region where we operate.

The result is we will have to continue to think differently
about our business. Lower credit growth and higher costsof doing business mean we’ll need to drive productivity andinnovation to stay ahead of the game. We need to streamline
our structures and do things in new and different ways.

DAVID CARTWRIGHT

Deputy Chief
Executive Officer

Chief Operating Officer

PETER MARRIOTT

PHILIP CHRONICANAt the same time, our 8 million customers want simpler
processes, convenience and more innovation from us
and this also helps drive medium and long-term value
for shareholders.

Chief Financial Officer

Our performance in 2010 shows that after having weathered
the global financial crisis in 2008 and 2009 we are now putting
runs on the board and we are well placed to meet thesechallenges – and indeed to take advantage of them – and tocontinue delivering on the commitments we have madeto all our stakeholders.

Chief Risk Officer

Chief Executive Officer,
Asia Pacific, Europe
and America

SUSIE BABANIDAVID HISCOCHRIS PAGE

Group Managing
Director, Human
Resources

Our Operating Environment
Looking ahead, there is continuing uncertainty in the
global environment, particularly for the US and European
economies. At the same time, higher funding costs arehere to stay and there are regulatory uncertainties associatedwith new capital and liquidity requirements. All in all, thisremains a challenging environment to navigate.

GRAHAM HODGESANNE WEATHERSTON

Chief Information
Officer

Chief Executive Officer,
Australia

ALEx THURSBY

Chief Executive Officer,
New Zealand

SHAYNE ELLIOTT

Chief Executive Officer,
Institutional

MICHAEL SMITH ChIEF EXECUtIVE OFFICERJOYCE PHILLIPS

Group Managing Director,
Strategy, M&A, Marketingand Innovation

Full biography details can be found on our website: anz.com/about-us/our-company/executive/management

8

Chief Executive Oﬃcer’s Report

9

AUSTRALIA region

Melissa Bridge, Director GXY Search, has banked with ANZ since launching her recruitment business four years ago.
Melissa says it’s been essential to have a banking manager that understands the needs of her business. “ANZ knows
and cares about my business and what we are trying to create here. They always flag for me the most appropriate
products or services to support the various stages of our growth.”

PHILIP CHRONICAN Chief Executive OfficeR

Business Profile
The business caters for ANZ’s Retail, Commercial, WealthManagement and Institutional customers around Australia.
Our Retail business delivers a range of banking products andservices to customers and includes our national network of
814 branches. Our Commercial Banking business provides
banking solutions for rural customers, small to medium
enterprises and corporate customers, and includes Esanda,
Australia’s leading auto financier. Our Wealth Managementbusiness provides insurance, investments and superannuation
services acquired from ING along with ANZ Private, E*TRADE
and ANZ Financial Planning and Investment Lending. For more
information about our Institutional business see pages 16 and 17.

Business Highlights

	Acquired the ING Group’s 51% shareholding in the wealthmanagement and life insurance joint ventures in Australia
and New Zealand.
	Completed the integration of Landmark Financial Services
making us Australia’s second largest agri-bank.

With 1.93 million small businesses
in Australia, employing more than
5 million people – a strong small
business sector is a critical driverof our economy.

During the global financial crisis we wanted to ensure our small
and medium sized business customers had continued access tofunding. We committed to $8 billion of lending in 2009, matchingour 2008 lending to the sector and as part this program increased
our small business lending by 10%. We also employed an additional
130 small business specialists across Australia; improved online
management tools and introduced a support package ofinitiatives to help our customers facing financial difficulty.
In response to customer feedback, we have streamlined thefinance application process, reducing the level of documentation
required for secured lending to existing customers. We continue
to assist our customers and the sector to develop and build theirbusinesses by offering access to a range of free business tools,
online courses and industry data via our small business hub(www.sbhub.com.au).
We have also recently introduced a new business comparison
and insights website (www.anzbusinessinsights.com), which is
helping small businesses to compare trading data with other likebusinesses in their local area.
Our focus and efforts are clearly paying off, with ANZ once again
this year being awarded the 2010 CANSTAR CANNEX Best Value
Australia Small Business Bank.

10

Financial performance# ($m)

2010

2009

Movt %

Operating income

11,215

9,762

15%

Operating expenses(4,667)(4,034)

16%

Profit before credit impairment
and income tax

6,548

5,728

14%

Provision for credit impairment(1,300)(2,053)-37%

Profit before income tax

5,248

3,675

Income tax expenses andnon-controlling interests(1,613)

Profit after tax
Total assets% Contribution to group earnings	Improved our retail customer satisfaction, which remains
the highest of all major banks.
	Won 2010 Home Loan Lender of the Year in the Money
Magazine Consumer Finance Awards for the 11th time,making ANZ Australia’s most awarded home lender.
	Launched a range of new products and services to meetcustomer needs, including the ANZ Business Visa Debit
and ANZ Access Visa Debit cards, the GoMoney free iPhone
application, and E*TRADE’s award winning share trading
tax reporting service, Tax Tools.
	Assisted more than 10,000 customers facing financial
difficulty through our Customer Connect program.
	Employed an additional 215 Indigenous trainees in ourbranch network across Australia.

	Strong underlying profit# growth driven by a good
performance across all businesses and a reduction in
the provision charge.

Supporting Small andMedium Business	Removed or reduced 27 fees, delivering annualised
benefits to customers of around $180 million.

	Worked with the Australian Government and ourcommunity partners to bring Saver Plus, our matchedsavings and financial capability program to an additional
3,320 low-income Australians.
	Invested over $11.9 million in our community throughdonations, volunteering and in-kind support.

NON-Financial performance

2010

2009

(Source: Roy Morgan Research –Main Financial Institution)

79.9

76.5

Total Employees1 (FTE)

23,713

20,23164

61

Total Women in Management2 (%)

40.2

38.01

43%

Lost Time Injury Frequency Rate1

2.2

1.9

(1,115)45%

Volunteering Hours1

38,82545,089

11.9

16.2

3,635

2,560

42%

381,071324,742

17%

72%

68%

4%

Customer Satisfaction (%)

Employee Engagement1 (%)

Community Investment (A$m)
GHG Emissions (tonnes CO2-e)
3Paper5 (tonnes per FTE)

Movt

173,525 156,4654
0.18

0.16

# Underlying profit is adjusted for material items that are not part of the normal ongoing operations of the Group including one-off gains and losses, non-continuing businesses, timing
differences on economic hedges and acquisition related costs. 1. Data includes Institutional employees. 2. Women in management is calculated by ‘PeopleSoft’ which, in addition to capturing
staff currently actively working for and being paid by ANZ (FTE) also captures staff on special leave including leave without pay, parental leave and long-term sick leave. 3. Pending externalverification. Includes scope 1 and 2 emissions, developed in accordance with NGERS. ING Australia data has been included from 1 December 2009 when ANZ took operational control. A detailed
GHG profile (Scope 1, 2 and 3) and our full environmental report is available on anz.com. 4. Restated due to new calculation methodologies and the inclusion of additional emission sources inour organisational boundary. 5. Includes both office and print (customer) paper. Data does not include ING Australia. Pending external verification.

Review of Regions

11

Teone, Tina and Arya Sciascia are participating in the MoneyMinded Aotearoa program being piloted among New ZealandSouth Island Māori. “The program is great way to learn the basics of money management, skills which we can share with othermembers of the whanau (family) and which will help us make better money decisions and save for our future,” Teone said.

NEW ZEALAND region
David Hisco Chief Executive Officer

Business Profile

	There was some margin recovery across the year,
up 13 bps in the second half (up 9 bps year on year).

ANZ New Zealand is the country’s largest company
based on assets. As the largest financial services provider
ANZ New Zealand has a banking relationship with nearly
one in two New Zealanders.

	Removed and reduced 29 fees across our two retailbanks delivering annualised benefits to customersof around NZ$55 million.
	Continued to hold the number one market share position
for all banking products across home, rural and business
lending and also for the Kiwisaver superannuation product.

ANZ New Zealand is the country’s largest financial
services provider. We offer retail, commercial, wealthmanagement and institutional customers a broad rangeof banking, finance, insurance and investment products
and services through our branded businesses including
our two retail banks.

Awarded ‘Best Value Mortgages (fixed rate)’ by CANNEX.
	Became Worldwide Partner and Official Bank of Rugby
World Cup 2011 New Zealand.

Our breadth and diversity is reflected in the morethan 9,000 people we employ from a wide range ofbackgrounds and skills.

	Supported New Zealand’s infrastructure development
and export growth, winning the 2010 Institute of Finance
Professionals New Zealand (INFINZ) Bank of the Year Award.

Business Highlights

	Provided NZ$1 million to support the Canterbury
Earthquake Appeal.

	Underlying net profit# was higher driven primarily
by a 48%6 decline in the provision charge.

	Invested over $2.8 million in our community throughdonations, volunteering and in-kind support.

	Credit quality improvement was most evident in the
Retail and Institutional sectors, with some uncertainty
remaining around the Rural and Commercial sectors.

Increasing the Financial
Knowledge of New Zealanders
This year ANZ New Zealandpartnered with Te Rūnanga o Ngāi
Tahu, the governing body for South
Island tribe Ngāi Tahu, to undertakean Indigenous people’s financial
knowledge survey.

12

The 2010 ANZ Ngāi Tahu Financial Knowledge Survey wascompleted by 400 Ngāi Tahu members throughout New
Zealand over three months. To increase the involvement andownership of the project among the Ngāi Tahu community, allinterviewing work was carried out by Ngāi Tahu members who
were employed and trained specifically for the research.
The results of the survey have established an importantbenchmark and will support efforts to grow financial literacy
and ultimately the financial independence of all iwi (tribes)
in New Zealand.
The research will also inform the development of programs
and initiatives to enhance money management skills. ANZ
will support subsequent surveys to monitor improvements
in financial knowledge over time.
Building on this partnership, ANZ New Zealand is now working
with Ngāi Tahu to tailor and adapt ANZ’s MoneyMinded financial
education program to reflect iwi culture and experiences.
MoneyMinded Aotearoa (New Zealand) facilitators have been
trained and the first Ngāi Tahu MoneyMinded workshops will beheld this year. The long-term aim is to offer the MoneyMinded
Aotearoa program to iwi throughout New Zealand.

Financial performance# ($Am)

2010

2009 Movt %NON-Financial performance

Operating income

2,549

2,638

-3%

Operating expenses(1,212)(1,182)

3%

Profit before credit impairment
and income tax

1,337

1,456

-8%

Provision for credit impairment

2009

Retail Customer Satisfaction– ANZ (%) (Source: AC Neilson)

54

61

Retail Customer Satisfaction– NBNZ (%) (Source: AC Neilson)

66

61

9,412

8,879

Total Employees1 (FTE)
(366)

(727)

-50%

Employee Engagement (%)

63

67

Total Women in Management2 (%)

34.5

33.21

Lost Time Injury Frequency Rate1

2.23

1.5

Profit before income tax

971

729

33%

Income tax expenses andnon-controlling interests

(270)

(216)

25%

Profit after tax

2010

701

513

37%

1

Volunteering Hours

18,285

26,778Community Investment (A$m)

2.8

4.6

GHG Emissions (tonnes CO2-e)

14,887

14,496

0.15

0.14

1

4

Total assets% Contribution to group earnings

93,096

101,319

-8%

14%

14%

0%

Paper5 (tonnes per FTE)

Movt

# Underlying profit is adjusted for material items that are not part of the normal ongoing operations of the Group including one-off gains and losses, non-continuing businesses, timing
differences on economic hedges and acquisition related costs. 1. Data includes Institutional employees. 2. Women in management is calculated by ‘PeopleSoft’ which, in addition tocapturing staff currently actively working for and being paid by ANZ (FTE) also captures staff on special leave including leave without pay, parental leave and long-term sick leave
3. The increase in NZ’s LTIFR was expected and is due to an awareness campaign which has increased reporting of incidents. Specific actions are in place to continue to improve our LTIFR
performance. 4. Includes scope 1 and 2 for ANZ NZ, estimates have been made for ING NZ and Radiola from December 2009 when ANZ took operational control. Emissions have been
calculated using 2008 emission factors provided by the Ministry for the Environment. A detailed GHG profile (Scope 1, 2 and 3) and our full environmental report is available on anz.com.
5. Includes both office and print (customer) paper. Data does not include ING New Zealand or Radiola. Pending external verification. 6. Measured in foreign currency terms.

Review of Regions

13

APEA region

ANZ is one of Indonesia’s largest foreign banks with 28 branches across 11 cities and almost 1,000 full time employees.
This year we re-branded our entire Indonesian branch network, building our brand presence throughout the county.

ALEX THURSBY Chief Executive OfficeR

Business Profile	Grew customer deposits and invested in building ANZ’s Retail
Banking and Wealth Management network and products.

The Asia Pacific, Europe and America (APEA) businessincludes 14 Asian markets and 12 countries in the Pacificas well as Europe, America and the Middle East.

	Launched ANZ Signature Priority Banking for affluent
retail clients.

Our strategy is focused on building ANZ’s businesses inpriority markets including Greater China (China, Taiwan andHong Kong), Greater Mekong (Vietnam, Cambodia, Laos),Indonesia, Malaysia and India. We also continue to develop
our business in the Pacific, where we have operated formore than 130 years.
Combined with strong banking hubs in Singapore andHong Kong, and our institutional network markets acrossAsia, the Middle East, Europe and America, ANZ delivers
connectivity for customers across the Asia Pacific region
including Australia and New Zealand.

#	While underlying net profit grew 21% in US dollar terms; amuch stronger AUD/USD exchange rate saw profit slightly
down in Australian dollar terms. The key contributers to
profit were the Institutional business and our partnerships
with momentum building across Retail banking, WealthManagement and the Private Bank.

Indonesia is one of ANZ’s priority markets
as we pursue our growth strategy.
Our aspiration is to be a ‘top four’ bank, and we are wellon the way to achieving that goal. Two years ago, ANZ had
no significant retail banking presence in Indonesia. Today,
we are one of the largest foreign banks with 28 branches
across 11 cities and almost 1,000 full-time ANZ employees.
1

We have significantly built our institutional and corporatebanking business, supporting the onshore needs of clients
as well as connecting them into Singapore and the broader
Asia Pacific region including Australia and New Zealand.
Our growing customer base includes a number of major
corporations specialising in the energy sector, and we continue
to bank major multi-nationals and their Indonesian subsidiaries.

14

We have built strong liquidity over a short period of time,developed a substantial markets business and leveraged ourexpertise in cash and trade, and foreign exchange and rates,
including commodities derivatives.
This year we completed the integration of the Royal Bankof Scotland (RBS) business into ANZ in Indonesia andre-branded our entire branch network, rapidly building
significant brand recognition2.
We continue to strengthen our retail and wealth products
and services for affluent and emerging affluent customers,
and we have established a Private Bank.
ANZ is contributing to Indonesia’s economic growth
agenda and, as our business grows, so does our support
for the Indonesian community. This year, more than 2,000
staff (including staff in our partnerships) took part in the
ANZ-HOPE Indonesia Walkathon to improve access to
education and health services for underprivileged children.

	Secured key licences to underpin ongoing growth, including
becoming the first Australian bank to be locally incorporated
in China, receiving approval for a banking licence in India
and obtaining a Qualifying Full Bank licence in Singapore.
	Provided banking services to people in remote areas
through our rural banking service in the Pacific and WING
in Cambodia.

Business Highlights

Our Super Regional Strategy
Comes to Life

	Completed the acquisition of selected Royal Bank of Scotland
businesses in six key markets, providing 49 branches, as well
as 1.6 million customers, US$6.5 billion in customer deposits
and more than 4,000 staff.

	Opened the Chongqing Liangping ANZ Rural Bank inWestern China and supported training for 2,000 pomelo
farmers covering the latest agricultural and marketing
techniques to help improve the sustainability of thisimportant local industry.
	Invested $1.5 million in our communities throughdonations, volunteering and in-kind support.

Financial performance# ($m)

2010

2009

Movt %

Operating income

2,020

1,967

3%

Total Employees1 (FTE)

Operating expenses(1,094)

(852)

28%

Employee Engagement1 (%)

Profit before credit impairment
and income tax

926

1,115

-17%

Total Women in Management3 (%)

Provision for credit impairment

(154)

(276)

-44%

Profit before income tax

772

839

-8%

Income tax expenses andnon-controlling interests

(83)

(140)

-40%

Profit after tax

689

699

-1%

Total assets

57,16250,400

13%

14%

19%

-5%

% Contribution to group earnings

NON-Financial performance

2010

2009

13,542

8,555

66

–2

42.9

35.41

33,542

20,923

Community Investment (A$m)

1.5

1.5

steadyGHG Emissions (tonnes CO2-e)

4

N/A

–

–

Paper (tonnes per FTE)

N/A4

–

–

Volunteering Hours1

Movt

–

# Underlying profit is adjusted for material items that are not part of the normal ongoing
operations of the Group, including one-off gains and losses, gains and lossess, noncontinuing businesses, timing differences on economic hedges and acquisition related
costs. 1. Data includes Institutional employees. 2. Employee engagement was measured
at a country level in 2009. 3. Women in management is calculated by ‘PeopleSoft’ which, in
addition to capturing staff currently actively working for and being paid by ANZ (FTE) also
captures staff on special leave including leave without pay, parental leave and long-term
sick leave. 4. ANZ is currently developing a method of collecting robust and credible
environmental footprint data for APEA. ANZ will aim to provide environmental footprint
data for APEA in our 2011 report.

1. by revenue 2. 19% unassisted, 91% prompted recall

Review of Regions

15

Mark Clover leads ANZ’s renewable energy Project Finance team which has been providing project finance for renewableenergy projects for the past 18 years including Australia’s first completed wind farm at Challicum Hills, Victoria.

INSTITUTIONAL DIVISION
SHAYNE ELLIOTT Chief Executive OfficeR

Business Profile

Asia Pacific, Europe and America revenue increased 7%.

Institutional provides global financial services to government,
corporate and institutional clients. We are focused onproviding solutions for clients with complex financial needs,
based on a deep understanding of our clients’ businesses
and industries, in particular natural resources, agriculture,
infrastructure and property. We deliver transaction banking,specialised and relationship lending and markets solutions
in Australia, New Zealand, Asia Pacific, Europe and America.

	ANZ is number one in Australia and New Zealand capital
markets1. ANZ raised more debt capital in Asia for Australianand New Zealand corporate borrowers than any other bank.
ANZ moved to number 5 in bond issuance in Asia Pacific(ex-Japan)1. ANZ moved to third overall ranking in the 1H 2010
Thomson Reuters Asia-Pacific (ex-Japan) Loan Arranger
League Table.

Business Highlights
Underlying profit up 23%.
	Record revenue growth despite currency headwinds.
Strong customer revenue up 9% reflecting growth inclient numbers and the strength of client relationships.
	Specialised and Relationship Lending revenue up 15%,
driven by improved margins; Transaction Banking revenue
up 9%, from strong deposit growth, particularly in Asia, andimproved margins. Global Markets, revenue while down on
the unusually strong performance in 2009, recorded
circa 22% compound annualised growth on 2008.
	Provision charge decreased 48% reflecting an improvement in
the economic environment and disciplined risk management.

Responsible Lending in Resources
and Energy Generation
ANZ is one of the leading banks
supporting the Australian natural
resources sector – a significant
contributor to economic growth.
While our economy and communities continue to benefit
from the success of the sector, particularly mining, we aremindful of the potential impacts some businesses can haveon local communities and the environment. We have put inplace clear governance structures, policies and staff training
to help balance and guide our decisions.
For example, we recognise the importance of transitioning
to a lower-carbon future, but that this will take significant
capital investment and time.

16

Secure and reliable energy supplies remain critical to thestrength of our economy where 80% of Australians rely onelectricity generated from coal-fired power stations to run
their households and businesses.
Our approach is to support our clients committed to
managing their impacts responsibly while helping them planfor their future, including a likely price on carbon emissions.
We are a leading renewable energy financier, providing
support to generate 1,145MW of wind power, as well as
landfill gas, waste coal seam methane, hydro andgeothermal power stations.
These renewable energy projects represent around a thirdof our project finance power portfolio and the proportion oflower-carbon energy projects continues to grow significantly,
as demand increases.

	Australia ANZ ranked first, or equal first, on 14 of 26
qualitative relationship categories in the Peter Lee
Associates survey of corporate and institutional clients.
Ranked No. 1 in ‘overall penetration’ (domestic plus offshore),
reflecting strength and quality of client relationships. In
New Zealand, ANZ is ranked first on overall satisfaction,
relationship strength and penetration and performed
very strongly, ranking first across a further 17 measures.
	Increased financing of renewables to around 30% of
our Project Finance energy portfolio.
	Further integrated clear policies, assessment tools
and escalation procedures to actively manage socialand environmental risks and opportunities in ourlending decisions.
1. According to Bloomberg League Tables

Financial performance# ($m)

2010

2009

Movt %

Operating income

4,865

4,965

-2%

Relationship Strength Index1 ranking

Operating expenses(1,706)(1,555)

10%– Australia

Profit before credit impairment
and income tax

3,159

3,419

-7%

Provision for credit impairment(740)(1,410)48%

Employee Engagement (%)

Profit before income tax

2,419

2,000

21%

Total Women in Management2 (%)

Income tax expenses andnon-controlling interests

(665)

(570)

17%

Profit after tax

1,754

1,430

23%

Total assets

183,501

185,082-1%# Underlying profit is adjusted for material items that are not part of the normal ongoing
operations of the Group including one-off gains and losses, non-continuing businesses,
timing differences on economic hedges and acquisition related costs. 1. According to
the Peter Lee Associates Large Corporate and Institutional Relationship Banking report.
2. Women in management is calculated by ‘PeopleSoft’ which, in addition to capturing
staff currently actively working for and being paid by ANZ (FTE) also captures staff on
special leave including leave without pay, parental leave and long-term sick leave.
3. Employee data was collected at a Regional level in 2009.

35%

38%

-3%

% Contribution to group earnings

NON Financial performance– New Zealand
Total Employees (FTE)

2010

2009

(equal) 1

2

1

3

6,044

4,963

66

64

31.4

N/A3

Movt

N/A

We have also applied the Equator Principles, a set ofvoluntary social and environmental standards, to all
Project Finance decisions since 2008.

Review of Regions

17

Katie Rattigan manages ANZ’s financial hardship programs,
which have this year provided support to more than 10,000
customers facing financial diﬃculty.

ANZ INYOUR WORLD
We want to be a role model for responsible business growthand business behaviour as we pursue our goal to become asuper regional bank.

attract the best employees who want to work forrespected companies that are making a sustainable
contribution to society; andencourage and attract investors who target
well-managed companies with superior prospects
for medium to long-term growth.
Each year we set public targets and report progress on abusiness-wide program of work to respond to the mostimportant issues and opportunities for our industry.

TY
ERI
SP

H

elp
THR
IVI
N

CO

po

s

18

Financial capability

ies
nit
rtu

Re

ANZ’s Corporate Responsibility framework guides ourdecisions, investments and initiatives.

ANZ Corporate Responsibility Framework and Priorities

G

More information about our approach, progress andperformance is available at anz.com/cr.

On the following pages we describe how we apply theframework to our decisions, investments and initiatives.
Our goal is to use our resources and skills to make a significant
and lasting contribution to the world we live in.

We live inyour world
RE
ns

ibl

n & rural divides
urba
ge
rid
gb
UNITIESinMM

Our approach and results saw ANZ assessed as the leadingbank globally on the 2010 Dow Jones Sustainability Index.

It emphasises the role we play in society – helping to create
prosperity and build thriving communities while growing
our business responsibly.

SP

ep

ON

ra c tT H itS I B L E G R O W n a b il

ice s

RESpONSIBLE pRACtICES
Governments, regulators, customers,
communities and our employees expect
us to grow our business responsibly. thisis especially important as we enter andexpand in countries where legal andregulatory frameworks are diﬀerent tothose in our traditional markets of Australia
and New Zealand.
We have strengthened our governance structures; areimproving management of social, environmental andreputation risks and opportunities; and continuing toapply the lessons for ANZ, and banks generally, fromthe global financial crisis.

Strengthening Governance
Our Corporate Responsibility (CR) Committee is chairedby our Chief Executive Officer, Mike Smith. It identifies,
responds to, and monitors current and emerging risks
and opportunities for our business. This year, the Committee
guided implementation of our new CR framework andpriorities; human rights standards; carbon neutral
strategy and approach to supporting disaster relief
and recovery efforts.
In addition, ANZ’s Reputation Risk Committee oversees
management of social, environmental and regulatory risks
particularly in our Corporate and Institutional client portfolio
including sensitive sectors such as energy, defence andforestry. It also provides a forum for staff to obtain advice
on complex or controversial issues involving clients,
transactions or products.

ybuild trust among governments and regulators seeking
responsible corporations to invest in their countries;

Our corporate responsibility framework and priorities weredeveloped following consultation with more than 600 people
across our region including our staff, customers, community
groups, government and regulators.

LPRO

show our customers and communities that we live in theirworld, care about and are responding to issues that matterto them both locally and globally;

Shared Priorities

cation & employm
Edu
ent
op
po
V
I
I
D
D
U
N
I
A

Our approach and commitment to corporate responsibility
delivers benefits for our shareholders and the broader
community. It assists us to:

Urb ansus

ta i

ANZ in Your World

19

ANZ IN YOUR WORLDRESpONSIBLE pRACtICES CONtINUED
Providing Safe, Uncomplicated Products and Services
A new Global Product Management Policy provides clear
guidelines for the development of safe, uncomplicatedproducts – from the concept through to decommissioning.
A supporting project is streamlining and simplifying
the number of products we have to ensure they meet
expectations, including those of customers and regulators.

2010

2009

ANZ’s best interests/reputation
on impact

126

20

Compliance with Code, law and ANZ
procedures (mainly related to inappropriate use

1,021

822

Conflicts of interest

911

honesty and integrity

83

167

Improper payments, benefits or gains

6

7

personal transactions and gain

4

12

privacy and confidentiality

16

33

The Board is able to reduce or eliminate deferredperformance-based remuneration which has not yet vested
if it considers the initial grant was not justified in light of
information arising after the grant was made or to protect
the financial soundness of ANZ.

Failure to report breaches of the Code,law and ANZ policies and procedures

13

14

treat others with respect, maintain asafe workplace

16

7

Performance assessments for all employees, including oursenior executives, are based on a combination of financial
and non-financial measures which consider risk, reputation,
stakeholder interests and sustainable practices.

Total

The policy also forms part of our response to the issues
in relation to the marketing and promotion of the ING
Diversified Yield Fund (DYF) and the ING Regular Income
Fund (RIF) in New Zealand. In addition to NZ$500 million
made available by ANZ New Zealand and ING in 2009, we
have reached settlement with the New Zealand CommerceCommission and Securities Commission to pay a further
NZ$45 million to investors in the two funds.
Providing the Right Incentives For Staff
Our Remuneration Policy was reviewed to ensure our pay
and bonus systems encourage and reward appropriate risktaking and achievement of sustainable shareholder returns.

Building an Ethical and Risk-aware Culture
Almost 46,000 employees completed our ’Leading’ or‘Understanding Risk in our World’ learning programs, which
reinforce the message that identifying and managing risk iseveryone’s responsibility.
All staff are also required to complete an annual training
course, ‘Living the Code’, which includes a declarationof compliance with our Code of Conduct and Ethics. Thisconfirms that each employee understands the Code’s
principles and has complied with them over the previous
12 months. We have recorded a 98% completion rate forthis essential training and compliance program. We track
and report breaches of the Code annually.
The majority of breaches of our Code of Conduct and Ethics
relate to ‘Compliance with the Code, law and ANZ procedures’and more specifically the inappropriate use of our email andintranet systems.
Taking into account the increase in staff numbers this year, theproportionate number of breaches of the Code has declined.

20

Responsible Decisions in our Institutional
Lending Portfolio

TYPES OF CODE OF CONDUCT AND ETHICS BREACHES
Based on total head count (including contractors) 54,810 in 2010
and 43,523 in 2009 (a 26% increase in total staff year on year).

of email and systems)

1,294

1,093

Outcomes arising from breaches of the Code included 195
dismissals, 69 resignations, 174 staff being counselled andnumerous reprimands. We continue to improve our reporting
systems and increase awareness of the ethical standards
expected of all our employees.
Whistleblower Protection
Our Whistleblower Protection Program enables all
employees, contractors and consultants to confidentiallyreport concerns about conduct, practices or issues they
are concerned about without fear of reprisal, dismissal
or discrimination.

We have clear policies in place to guide our involvement
in sensitive sectors, such as energy, mining and defence,
and we consult regularly with interested parties in order
to better understand their concerns.
For example, a respected Australian faith-based organisation
approached us concerned about our involvement with ahydroelectric project in the Mekong region and its potential
to adversely impact local people, communities and theenvironment.
ANZ has supported this project over time recognising it
will deliver much needed and secure electricity supplies toa developing nation. Properly managed from a social andenvironmental perspective, the project will also improve
the lives of local communities through the availability ofbetter health, transport and educational infrastructure,and improved household and community income levels.
Our client, with our support, provided a key representativefrom the community organisation with the opportunity
to see first hand how the project sponsor was managing
the issues, working with local people, and seeking to makea positive contribution to the economic and social
development of the impacted communities.
Through the visit, both parties were able to share
perspectives on the positive and negative aspects ofthe project and discuss details of remedial strategies inplace to respond to key issues regarding the social andenvironmental impacts.

Respecting People and Communities– Our Approach to Human Rights

WHISTLEBLOWER PROTECTION
2010

2009

Reports received

18

12

Reports closed

16

101

Reports still under investigation

64

1. Two cases carried over from 2008.

Our shareholders, customers and non-governmentorganisations are increasingly interested in ANZ’s approachto managing social and environmental issues related tolarge corporate clients and projects.

A new set of standards, ‘Respecting people and communities– ANZ’s approach to human rights’ formalises our commitment
to be respectful of local cultures and priorities, comply
with laws and go further in situations where we have theresponsibility, skills, resources and expertise to do so.
The standards were developed in consultation withstakeholders, including shareholders, community groups andour staff, who want to know where we stand on these issues
and to see evidence our commitments are ‘more than words’.
Practical actions we have taken to embed our standards ineveryday business include establishing occupational health,safety and wellbeing plans for countries in our networkand providing training covering social and environmental
issues and opportunities relevant to our lending decisions
for senior bankers.
We also support internationally accepted human rights
standards, including the UN Global Compact and OECD
Guidelines for Multinational Enterprises, and apply the
Equator Principles to all project finance transactions.
In applying our standards, we understand our responsibility
to respect the national sovereignty of host governments.
Our response to human rights issues and ability to effectchange may depend in some cases on local conditions
and cultures, legal frameworks and the extent of ourmanagement control over another entity.
Over the coming year we will work with our customers,
business partners and suppliers to encourage their support for
our approach and standards while further incorporating theminto our business practices including training, communications,contracts, agreements and due diligence processes.

Supporting Customers in Financial Hardship
Dedicated teams in Australia and New Zealand are helping
customers to manage and emerge from periods of financial
difficulty. In Australia for example, our Customer Connect
team assisted over 10,000 customers this year.
A new program has been trialled to identify customers
showing early signs of financial stress so that we can offer
prompt assistance and help them avoid more serious
problems down the track.
More than 3,500 credit card customers were contacted andwhile the majority felt comfortable managing their situation,
11% accepted our offer of support such as changes to their
credit card product, more convenient ways of managing theiraccount or access to financial education and literacy programs.
A new confidential debt advice service is also being piloted
offering customers in financial difficulty direct and timely
access to over-the-phone assistance from independent
financial counsellors. The service will help customers
assess their overall financial situation, prioritise debts,
arrange temporary repayment packages and plan themost appropriate course of action.
These measures enhance our long-term investment toensure our most vulnerable customers are protected frominappropriate offers of credit and that those who findthemselves in financial difficulty receive timely, appropriate
and sensitive support.

ANZ in Your World

21

ANZ IN YOUR WORLD

Andrew Wilson-Annan, an executive in our Regional Commercial Banking business is also a Country Fire
Authority (CFA) volunteer in Woodend, Victoria. We provide Andrew with volunteering leave and flexible
working hours so he can perform his duties to support the CFA’s vital work protecting his community.

RESpONSIBLE pRACtICES CONtINUED
Training Fund Builds New CareersMore than $640,000 in training grants have been provided
to help staff build new careers outside the bank or findalternative positions with us if their roles are offshored.
In partnership with the Finance Sector Union (FSU) in
Australia and FINSEC in New Zealand, the initiatives include:“Our partnership with ANZ ushers in a newera of engagement in the region – it will
be based on participation, mutual learningand an inclusive approach to sustainable
development.”
DIMITY FIFER, CEO, AUSTRALIAN VOLUNTEERS INTERNATIONAL

Committing up to $10 million to a New Career Training
Fund to help impacted employees find new jobs andcareers outside ANZ.

Supporting Our Communities
This year we expanded our volunteer program giving all
employees globally access to one day of paid leave forvolunteering. We also established a partnership with
Australian Volunteers International (AVI) to provide skilled
volunteering opportunities for our employees in Asia Pacific.

Improving processes to support higher rates ofredeployment and retraining for roles within thebank to minimise redundancies.
Establishing a Past Employee Care Fund to help
eligible individuals facing a period of financial
hardship after leaving ANZ.

ANZ and AVI’s first pilot project is with respected community
organisation Bahay Tuluyan, in the Philippines. Our local teamwill share their professional skills in areas such as finance,
governance, IT and human resources so Bahay Tuluayn isbetter equipped over the long term to deliver its services
that create education opportunities for children in need.

In 2010, 80% of staff impacted by offshoring decisions
who have expressed a wish to stay at ANZ have been
redeployed in other roles within the bank.
For staff who have elected to leave ANZ, more than
90 are now pursuing a range of vocations including in
nursing, teaching and photography, after receiving a
New Career Training Fund grant.
Twelve former staff members affected by offshoring
decisions have also been supported by the Past Employee
Care Fund, which provides one-off cash payments of up to$15,000 to help staff through a period of financial hardshipafter leaving ANZ.
TOTAL NUMBER OF EMPLOYEES AND CONTRACTORSIN AUSTRALIA AND NEW ZEALAND IMPACTED BY
OFFSHORING DECISIONS
2010

2009

permanent staﬀ made redundant

56

202

Contractors whose contracts finished

75

353

permanent staﬀ made redundant

7

187

Contractors whose contracts finished

11

55

AUSTRALIANEW ZEALAND

KEY GOALS WE SET OUT TO ACHIEVE IN 2010

PERFORMANCE

Our staff contributed over 91,000 hours of volunteering
this year – short of our 100,000 hours target. With increasedorganisational support and a more stable economic
environment, we aim to achieve this target in 2010–2011.

Implement our new CR framework across the Group with a specific focus on programs and initiatives
in the Greater Mekong region.

A new Disaster Relief and Recovery Policy is helping toensure we provide timely, effective and appropriate
support when our customers and communities are
impacted by natural disasters.

pilot a debt advice service for retail customers in financial diﬃculty.

Following a 7.1 magnitude earthquake which hit thearea around Christchurch, New Zealand in September,
ANZ donated NZ$1 million to the New Zealand Red Cross
Canterbury Earthquake Appeal. We also matched donations
to the appeal from our New Zealand staff, provided
volunteers to assist the New Zealand Red Cross with their
hotline and offered a special package of relief measures
to impacted customers and business clients.
We have also contributed to rebuilding efforts forcommunities affected by earthquakes in Indonesia andChina; Typhoon Ketsana which swept across Vietnam, thePhilippines, Laos and Cambodia; flooding in Queensland
and India; and the tornado which devastated the Liangping
Chongqing region of China.

Implement our revised human Rights Statement across our business.

Implement consistent social and environmental assessment processes and guidance for the evaluationand credit approval of sensitive sector Institutional clients in our Asia pacific operations.
Improve our retail customer satisfaction in Australia and New Zealand.
Improve our performance on the peter Lee and Associates survey of corporate and institutional clients.
Reduce our Lost time Injury Frequency Rate (LtIFR) in Australia and New Zealand by a further 10% andcontinue the global implementation of our health and safety system.
Achieve an employee engagement score of 69% in 2010.
Implement a new Group-wide community investment model and enable staﬀ to contribute 100,000
hours volunteering.
Implement our revised sustainable sourcing framework and publicly report on verification, audit
processes and spot checks used to assess compliance and corrective actions required.
Implement products and services to assist clients and customers with the transition towards
a lower-carbon economy.
Implement a tailored learning program and tools for senior leaders and employees to further embeda strong risk management culture across ANZ.
ACHIEVED OR ON TRACK TO ACHIEVEPARTIALLY ACHIEVED OR IN PROGRESSDID NOT ACHIEVE

See anz.com/cr/performance for more detail22

ANZ in Your World

23

ANZ IN YOUR WORLDJohn Harries, General Manager, Australia Operations, has
led our Disability Action Plan Steering Committee since 2007.
For the second year in a row, ANZ achieved its target to employ
a further 35 people with disability across our business.

Indigenous Traineeships Build
Long-term CareersThis year we increased the proportion of women in
management from 36.8% to 38.4% and aim to have
40% female managers by 30 September 2011.

Spanning one to two years, the traineeships provide
practical banking and workplace experience whiledeveloping participants’ capabilities and confidence
to broaden their future employment or academic
aspirations and opportunities.

Despite steady progress, feedback from our own
employees supports global research highlighting thechallenges some women face in their careers, for example,
the loss of career momentum and responsibilities after
taking time out for family.
Affordability and access to childcare remain key issues forour employees, who are also asking us to further develop
and embed flexible work arrangements across our business.

EDUCAtION AND EMpLOYMENt
OppORtUNItIES
Education and employment opportunities
are key to changing people’s lives and are highon the development agendas of individuals
and governments across our region.
We know that a good education leads to employment,
and combined, they can make a significant and sustainabledifference to the lives of disadvantaged groups and people
that are under-represented in the workforce.
By actively improving the diversity of our staff, we are
better able to understand and serve an increasingly wide
range of customers across multiple countries and cultures.
Ideas and views drawn from different backgrounds andlife experiences also contribute to better decisions andinnovation for our customers.

24

Advancing Women at Work
We have invested significantly over many years to develop
an organisational culture that enables and promotes theadvancement of women at ANZ.
This has included setting public targets to increase thenumber of women in management every year since2005 and getting more women into strategic and line
management roles:

In response, we announced a range of measures including a$4,000 childcare allowance for our Australian staff returningfrom parental leave and superannuation payments on all
forms of their paid parental leave.
A Senior Executive Diversity Council chaired by our CEO,mentoring programs, a Gender Action Network and clear
guidelines for recruitment, selection and remuneration of
employees to reduce gender bias are among the initiatives
in place to help to support, develop and promote women.

Our traineeships are continuing to kick-start careersand provide a pathway to long-term prosperity for
Indigenous Australians.

This year we recruited 215 new trainees, with a total of
475 Indigenous youth participating since the program’s
inception in 2003.
A priority is supporting participants to complete the full
duration of their traineeship. We have enhanced interview
and screening processes to include a voluntary weekof work experience before the traineeship commences,helping the prospective trainees to decide if the program isright for them. Greater emphasis on managing expectations
and selecting the most suitable candidates is also in place.
This year, around 70% of participants successfully completed
the traineeship, well in excess of the non-trade Indigenous
sector average of 30%, and on par with traineeship completion
rates for non-Indigenous workers1.
1. National Centre for Vocational Education Research (2008).

ANZ INDIGENOUS EMPLOYMENT PROGRAM KEY FACTS:

WOMEN IN MANAGEMENT 2009–2010
GROUP

2010
%

2009
%

traineeships since 2003

Senior executives

23.9

24.7

Length of traineeship

Senior managers

27.6

27.6

Managers

40.6

38.3

Completion rate for 2009/2010
traineeship programs

70%

Five female country CEOs lead our business in important
markets in Asia such as China, Vietnam and Hong Kong.

total

38.4

36.8

trainees now employed at ANZ

218

Senior women now run key businesses including leading
our operations in Bangalore, India; Private Bank in Australia
and New Zealand; Retail and Wealth businesses in Asiaand the Pacific; Global Capital Markets business; and our
Global Shared Services function.

New ASx diversity requirements

There are now three women on our Management Boardof 12 executives, where in 2007 there was none.

475
1 – 2 years

ANZ is an early adopter of the recently announced Australian Stock Exchange’s (ASx) Governance Principles relating to diversity, having
set and reported on public targets for women in management for the past five years. We also set measurable diversity objectives for theemployment of Indigenous people, people with disability and refugees in our business.

ANZ in Your World

25

ANZ IN YOUR WORLD

Donna Anderson, Branch Manager at Shepparton in Victoria is oneof many staff supporting the delivery of our Saver Plus matched savingsand financial literacy program in 60 communities across Australia.

EDUCAtION AND EMpLOYMENt
OppORtUNItIES CONtINUED
Improving Career Opportunities for People
with Disability
Our second Disability Action Plan (DAP) was launched in
May and reaffirms our long-term commitment to making
ANZ a place that welcomes and supports customers andstaff with disability.
Together with targets to employ more people with disability,
we are boosting information and services to encourage
greater awareness and understanding of disability, mental
health and wellbeing so we can better support our staff
and customers.

A number of our Australian staff voluntarily participate in our
Abilities Network, helping to find better ways to support staff
with disability and their managers. Thirty-seven executives
and senior managers also joined our ‘Willing and Able’program providing mentoring and advice to assist students
with a disability as they transition into full-time employment.
Employment opportunities can also be generated throughprocurement decisions. We are updating our sourcing criteria
to encourage and develop more relationships with inclusivecompanies who employ and support people with disability.

Progress against of first DAP (2008–2010) includes:
exceeding our public target to employ an additional
35 people with disability;
implementing flexible employment policies to support
staff with a disability and those who care for family
members with an impairment;delivering audio-enabling to more than 2,000 ATMs;
making nine of our most commonly used productbrochures available to customers in Braille, large print
and audio CD format; andimproving compliance with the WC3 accessibility
standards for our intranet and external website.

“The Disability Action Plan demonstrates atrue commitment to systemic change within
ANZ towards disability and it also showsleadership on the same front to the sector
and the community at large.”
VISION AUSTRALIA: WWW.VISIONAUSTRALIA.ORG

KEY GOALS WE SET OUT TO ACHIEVE IN 2010

PERFORMANCE

Increase the percentage of women in management across all levels of our business.

Employ an additional 35 people with disability across our global business.

See anz.com/cr/performance for more detail

26

PARTIALLY ACHIEVED OR IN PROGRESS

helping to build individual prosperity in ourcommunities is a fundamental purpose of ourbusiness. We do this by providing simple, fair
and aﬀordable products and services, soundadvice and support, and clear information so
our customers can make informed and eﬀective
decisions about the management of their money.
A significant investment over a number of years has helped
us to create innovative programs that are improving thefinancial capability of people on low-incomes and fromdisadvantaged groups including women, Indigenous
communities, people with disabilities and migrants.

Employ an additional 180 Indigenous trainees.

ACHIEVED OR ON TRACK TO ACHIEVEFINANCIAL CApABILItY

DID NOT ACHIEVE

Successful programs such as Saver Plus and MoneyMinded
are now being adapted for new cultures and contexts sothat more people in our region can benefit.

OUR FINANCIAL CAPABILITY PARTNERS

Brotherhood of St Laurence
the Smith Family
the Benevolent Society
Berry Street
Mission Australia
Anglicare SA
Kildonan UnitingCareFirst Nations Foundation
te Rūnanga o Ngāi tahu
Australian Government (Department of Families, housing,Community Services and Indigenous Aﬀairs, FahCSIA)

ANZ in Your World

27

ANZ IN YOUR WORLD

Alison, pictured with her son Kai, is a single motherand has joined the Saver Plus program to savefor a laptop to support her children’s education.

FINANCIAL CApABILItY CONtINUED
Saver Plus Helps More Communities

Getting MoneyMinded

A further 7,600 Australians are expected to participate in our
Saver Plus matched savings and financial capability program
over 2009–11, supported by a $13.5 million grant from theAustralian Government.

Our MoneyMinded financial education program is being
adapted to increase its reach and impact among local
cultures in Australia, New Zealand and the Pacific.

This year, the program (developed in partnership with
Brotherhood of St Laurence) expanded from 20 to 60
locations across Australia, and continues to help people fromdisadvantaged and low-income backgrounds to improvetheir financial skills, knowledge and confidence and savefor their children’s or their own education expenses.
We work with a range of community partners who provide
Saver Plus participants with financial education, personalcoaching and support to help them reach their savings goal.
Those who complete the program have their earned savings
matched dollar-for-dollar up to $500 by ANZ. Over 86% ofprogram participants are women.
Long-term research conducted by RMIT shows Saver Plus
has a lasting impact on financial habits, overall confidence
and economic and social inclusion of those involved.
96% of participants have successfully met or exceeded
their savings goal.

MoneyMinded is delivered by government and community
partners and provides basic budgeting, savings and money
management skills, empowering people to live within theirmeans, increase their savings and assets, manage credit
and debt, and plan for their future.

“Saver Plus really made me think about
my day-to-day spending, and realise howmuch money you can waste,” says Alison.
“My children knew I was saving for thelaptop and I think that by having a goaland planning for it, I’m sure it will rub off
on my children for their future.”

An adaption called MoneyBusiness has been created for
Indigenous Australian communities and is now available
in 167 communities in partnership with the AustralianGovernment.
MoneyMinded Pacific has been introduced to more than
2,000 of our staff across 11 Pacific countries this year andthere are plans to introduce a community based version of
the program in 2011, in conjunction with local community
partners. While in New Zealand, we are working with the
Te Rūnanga o Ngāi Tahu and the South Island Máori
community to tailor MoneyMinded for local indigenous
culture and experiences.

More than 70% have continued saving at thesame rate or more, long after completing the program.

Over 125,000 people have participated in MoneyMindedsince it commenced, including 31,910 low-income Australians
this year.

More than 48% of participants who met or exceeded
their saving goal decreased their level of debt during
the program.

Participants come from a diverse range of backgrounds
and life experiences, including sole parents, young people
with disabilities, and migrants.

Expansion of the program includes a focus on communities
identified by the Australian Government as more vulnerable
to an economic downturn because of location, industry
composition, demographic profile, skill mix and pasteconomic performance.

Progress Loans for Low-income Earners
We are developing new ways to deliver our small loans program
to more Australians on low-incomes including using
telephone and online sales and through selected branches.
Developed by ANZ and the Brotherhood of St Laurence (BSL),
Progress Loans provide much needed access to small loansof between $500 and $5,000 for people who might normally
have difficulty accessing credit from a mainstream bank.
The loans provide health care and pensioner concession
card holders with affordable, fair and safe access to credit
from a mainstream financial institution, thereby reducing
the need for them to seek alternative financing, which canbe high cost, unsafe and lead to unmanageable debt.
We are piloting the introduction of alternative, lower cost
distribution channels designed to increase the reach of Progress
Loans. Our goal is to achieve 1,000 new Progress Loans between
2009 and 2011 and we are on track to achieve this goal withalmost 500 loans, worth $1.3 million, provided this year.

As part of the pilot, BSL Loans Officers will be seconded
to selected ANZ branches to build awareness of Progress
Loans among staff, assist with development of the bestprocess for managing applications in the branch andto deliver loans to ANZ customers.
We will also trial an ANZ telesales service with a
specially trained consultant dedicated to managing
phone applications. BSL is also exploring opportunities
to enhance community referrals through a community
champions network.
Recognising the vital role Progress Loans play in helping
people on low incomes to meet household expenses
and reduce their vulnerability to unexpected events, theAustralian Government has provided the partners with
$1 million towards the pilot.

How Saver Plus WorksKEY GOALS WE SET OUT TO ACHIEVE IN 2010

PERFORMANCEWork with our community partners and the Australian Government to enrol 7,600 people in our
Saver plus program over two years.
PARTICIPANT

AGREEMENTSAVEEDUCATION

MATCHING– Over 8,300
participants
since 2003.

Meets with a Saver
plus worker frompartner community
organisation. Makes
agreement tosave an amountof money over a
10-month period.

Opens an ANZ
savings accountand makes regulardeposits.

Attends financial
sessions developed
by ANZ andreceives supportand encouragementfrom Saver plus
worker whenrequired.

Reaches savings– 70% continue
goal. ANZ matches to save samesavings dollar-foramount or moredollar up to $500.
2-3 years later.
Money used for– 96% successfully
their children’s
complete program.
or own education
expenses.

– 86% are women.

28

OUTCOMES

Reach an additional 30,000 low-income and disadvantaged people with our MoneyMindedfinancial education program in partnership with community organisations.
Work with the Brotherhood of St Laurence to write 1,000 new progress Loans over two years using
funding from the Australian Government to pilot new approaches to support long-term financial
and social sustainability.
ACHIEVED OR ON TRACK TO ACHIEVEPARTIALLY ACHIEVED OR IN PROGRESSDID NOT ACHIEVE

See anz.com/cr/performance for more detail

ANZ in Your World

29

ANZ Centre was named the Commercial Building “ANZ Centre will set a global environmentalof the Year in the prestigious Leading European and social sustainability benchmark for others
to follow.” LEAF AWARDS JUDGES COMMENTS
Architects Forum (LEAF) Awards for 2010.

ANZ IN YOUR WORLDANZ CENTRE ENVIRONMENTAL FEATURES
Solar PowerWind Turbines
Tri-generation
Underfloor Air Conditioning

Stormwater Re-use
Passive Sun Shading
Black Water Recycling
River Cooling

Investing in a Renewable Energy Future
Around $20 billion in renewable energy investment will
be needed over the next 10 years to meet Australia’s targetof having 20% of its electricity generated from renewablesources by 2020.
Today, ANZ is a leading renewable energy financier –representing around 30% of our project finance energy
sector lending portfolio. Our involvement has grownsteadily over time, in line with increasing demand.
ANZ’s current wind portfolio extends to some 1,145MW –enough renewable power to supply around 630,000 homes
spread across 14 projects, of which over 80% are in Australia.
We financed Australia’s first renewable energy project in
1992, providing project finance for Energy Developments
BioEnergy landfill gas projects in Victoria. We also financed
New South Wales’ and Australia’s first completed wind farmat Challicum Hills in 2002.

URBAN
SUStAINABILItY

ANZ’s new global headquarters at 833 Collins Street Melbourne
is one of the largest commercial office buildings in the Southern
Hemisphere and also one of the most environmentally andsocially sustainable.

Our growth strategy focuses on urban
markets in Asia where our customers andlocal communities face congestion, air
quality and sanitation challenges, particularly
as populations grow.

Designed to produce 70% less greenhouse gas (GHG)
emissions than a standard commercial office building,
ANZ Centre’s environmental features include the use ofunder floor air distribution, river cooling, on-site generationof electricity using natural gas, wind and solar energy
and black water recycling.

In this context, we seek to better understand the socialand environmental pressures on cities where we operate,and identify how we can help to improve environmental
and social sustainability.

flexible work zones, allowing staff space to work either
collaboratively or individually as required;

Sharing our Knowledge for Better Buildings

floor-to-ceiling glazing and central atriums ensuring
maximum use of natural light;

ANZ Centre, our new global headquarters in Melbourne iscreating a lasting impression, not just on the environment,
but also on the 6,500 staff who work there.

under floor air distribution system, enabling 90% fresh air
intake, which far exceeds Australian building standards;

The ANZ Centre was designed to be one of the mostenvironmentally progressive buildings and has since been
awarded the ‘6 Star Green Star’ Design rating from the Green
Building Council of Australia.
It is also attracting significant interest from builders,architects, governments, and educators with hundreds ofpeople visiting the Centre in the past year to learn more
about these features and how they can implement similar
initiatives in their own properties.

30

It also includes innovative features to support the healthand wellbeing of our staff, including:over 500 bicycle spaces with easy access to bike paths
for staff who wish to reduce the environmental impactof their travel to work; anda wellness centre offering a range of fitness, health andwellbeing programs.

For 2011, we have set a public goal to implement products
and services to assist clients and customers with the transition
towards a lower carbon economy and will continue to increase
the proportion of lending to the renewable energy sector.

Implementing our Commitment to
Carbon Neutrality
ANZ will achieve its commitment to become carbon
neutral across our business globally at the end 2010
by purchasing a range of international carbon offsets.

Our commitment to carbon neutrality is aligned with theAustralian Government’s National Carbon Offset Standard(NCOS), a voluntary framework that provides accreditation
for companies to become carbon neutral.
ANZ’s carbon inventory will include a number of
additional emissions beyond the NCOS standards, suchas hotel accommodation, print paper, road transport andtransmission losses.
Programs are in place to measure, reduce and offset ouremissions associated not only with premises energy but
also with air travel, accommodation and taxis, given thetravel associated with our growing regional footprint.
We also continue to focus on reducing our travel emissions bypromoting alternatives such as advanced video conferencing
technology to communicate between our key offices.
A carbon management services provider has been appointed
and is undertaking portfolio selection, detailed projectassessment and evaluation of benefits.
Consistent with ANZ’s super regional strategy, the projects
supported by ANZ’s carbon offsets will be primarily based
in developing countries where we have a presence such
as India, China, Cambodia, Thailand and Indonesia.
Our original timeframe to achieve carbon neutrality wasdelayed late last year due to a reshaping of our businessand regulatory developments in Australia. However, thecommitment will be applied retrospectively from 1 October
2009, thereby achieving our original target.

KEY GOALS WE SET OUT TO ACHIEVE IN 2010

PERFORMANCE

Implement our carbon neutral strategy and become carbon neutral globally in line with theAustralian Government’s National Carbon Oﬀset Standard.
Work towards achieving our two-year environmental goals in Australia and New Zealand:– Absolute reduction in GhG: -6% AUS / -2% NZ– premises energy per FtE: -6% AUS / -2.5% NZ– paper consumed per FtE: -10% AUS / -10% NZ– Water use per FtE: -10% AUS / Baseline NZ– Waste recycled: +10% (AUS) +10% (NZ)
Review our Environmental Management System (EMS) for implementation across our key markets.
ACHIEVED OR ON TRACK TO ACHIEVEPARTIALLY ACHIEVED OR IN PROGRESSDID NOT ACHIEVE

See anz.com/cr/performance for more detail

ANZ in Your World

31

ANZ IN YOUR WORLDElizabeth Rova, Team Leader Rural Banking in Fiji, joins hercolleagues delivering much needed basic banking services
to rural and remote communities across the Pacific.

hELpING BRIDGE URBAN
AND RURAL ECONOMIC AND
SOCIAL DIVIDESReducing the economic and social divides that exist between urban and rural regions
is a significant priority for governments and communities in many Asian and pacificmarkets where we operate. As one of Australia’s largest investors in the Asia pacificregion, there is much we can do to help bridge these divides.

We support the local and international businesses which
create the industries, jobs, products and services that
underpin thriving communities. We are also working withgovernments, multilateral and community organisations
in a number of markets to improve financial capability andinclusion among under-banked and rural communities –at the same time developing new markets and customers
for our future.

Supporting Economic Developmentin Rural China

32

Since establishing a presence in this region, we have built astrong commercial loans business, providing much needed
access to finance for small business loans among rural Chinese
while sharing our banking expertise to help strengthen thislocal community and economy.
Our CEO, Mike Smith, is a member of the Chongqing Mayor’s
International Economic Advisory Council and we have also
supported a year-long training initiative to improve thesustainability of the pomelo industry, a major contributor
to the Liangping economy.
The training provides farmers with advice on business
management, marketing, branding and trademarks, andplantation and cultivation skills with practical sessions
to improve yields.

As part of our growth strategy and long-term commitment
to China, we opened our Chongqing Liangping Rural Bank
becoming the first Australian bank to invest in China’s ruralfinance area. In addition, we obtained preparatory approvalto establish a city branch in Chongqing and, pending final
regulatory approval, aim to launch the Chongqing branch
by the end of 2010.

Around 2,000 farmers, agricultural committee officials
and representatives of local pomelo industry associations
have participated in the program to date.

This area of Western China is a priority economic development
zone. It is home to more than 31 million people, including
some 900,000 in the county of Liangping, where around
90% are rural residents.

We are continuing to improve access to basic banking
services and loans for individuals and businesses, while
extending the agricultural, marketing and financial
literacy program to more farmers in the region.

Building Prosperity in Rural Fiji
Our rural banking service is playing a significant role in
improving financial inclusion and family wellbeing inrural households across the Pacific.
Launched in Fiji in 2004, the service reaches more than 85,000
people throughout Fiji, the Solomon Islands, Samoa andVanuatu. Purpose-built trucks travel between remote villages
providing access to transactions and savings accounts and, insome areas, micro-loans for small enterprises.
According to a report released this year the service (together
with a supporting United Nations financial education
program), is helping to enhance the lives and livelihoodsof the 300 rural Fijian communities we serve.
The Financial Capability, Financial Competence and Wellbeingin Rural Fijian Households* study measured the financial
skills of rural Indigenous Fijian villagers and used ANZ’s ruralbanking services as a case study to illustrate how providingbanking services creates greater financial inclusion andprosperity for people living in remote locations.
Among its findings, the study found villagers who have accessto banking services and financial education are more likely
to have funds to re-invest in their farm or business and theability to manage spending and re-invest any surplus funds
has a positive impact on the overall family well-being.

We are currently exploring opportunities to use technology
to provide lower-cost and more convenient options to deliverbanking services to rural communities; increasing accessto micro-loans to further support economic developmentin the region; and expanding our MoneyMinded financial
education program across the Pacific.
*The study was conducted by the United Nations Development
Program (UNDP) Pacific Centre in conjunction with Massey
University, New Zealand and the National Centre for Smalland Micro Enterprise Development.

“ The research shows that the combinationof financial literacy and access to reliablefinancial services has a direct impact on
helping to lift communities out of poverty.
“It provides households with the ability to
manage their resources to provide funds foreducation, food, electricity, water, improved
sanitary conditions and medical services.”
KNUT OSTBY, UN RESIDENT COORDINATOR IN FIJI

ANZ in Your World

33

ANZ IN YOUR WORLDOUR 2011 CORPORATE RESPONSIBILITY (CR) TARGETS HAVE BEEN SET TO SUPPORT OUR BUSINESS STRATEGY AND
THE LONG-TERM COMMITMENTS SET OUT IN OUR CR FRAMEWORK. WE REPORT OUR PROGRESS REGULARLY TO
STAKEHOLDERS VIA OUR MONTHLY E-BULLETIN, INTERIM AND ANNUAL REPORTING.

OUR CORpORAtE RESpONSIBILItY
tARGEtS 2011

hELpING BRIDGE URBAN AND RURAL ECONOMIC
AND SOCIAL DIVIDES CONtINUED
Improving Economic and Financial Inclusion
in Cambodia
More than 180,000 Cambodians, many of whom had little
or no access to financial services, have registered for ourmobile banking service, called WING.
Fewer than 5% of Cambodians currently have bank accounts,
while more than 80% have access to mobile phones. Mobilebanking therefore provides affordable, accessible, secure andfast services to a largely unbanked population.
Customers access their WING accounts to make secure,
immediate payments using a personal identification number
via any mobile phone. They can also deposit savings and makeor receive cash payments through more than 600 Cash xpress
outlets located in all of Cambodia’s 24 provinces.
Using WING, customers can avoid the often costly and unsecured
channels of taxis, couriers or middlemen, while gaining thesecurity and speed of using mobile technology. Parents supportingchildren studying away from home, migrant workers sending
money home to their families in villages and farmers receiving
payments from markets all benefit from using WING.

WING customer Kong Chan Ny is a market
trader selling Chinese broccoli grown by local
farmers in the Takhmau market – 15 km outof Phnom Penh. She uses WING to make her
micro business more efficient.
“Getting money to my producers takes a lotof my time and it also can be a security risk.
WING is easy and fast to use, I am encouraging
my producers to use WING so I can transfer
the money I owe for my vegetables.”
KONG CHAN NY

BANKING THE
UNBANKED

In September, we launched goMoneyTM – Australia’s first iPhonebanking application enabling customers to securely transfer
money between friends, relatives and businesses using mobile
phone details.

REACHING THE
POORER SEGMENTS

44%

36%

56%

Enhance the criteria guiding our purchasing decisions, toencourage and develop more relationships with inclusivecompanies who employ and support people with disability.

Improve our performance on the peter Lee and Associates
survey of corporate and institutional clients.

GOVERNANCE

Resolve 90% of retail customer complaints inAustralia/New Zealand within 5 business days.
publicly report evaluations and action plans arising froma review of our initiatives to support customers facing
financial diﬃculty, including our Debt Advice and Early
Assistance pilots in Australia and customer financial
wellbeing initiatives in New Zealand.

BankedUnbanked

EMPLOYEES

Achieve an employee engagement score of 68% andimplement actions to respond to feedback from our2010 My Voice Employee Survey.
Engage 120 of our senior executives in a leadershipprogram to identify and make the most of opportunities
created by our super regional growth strategy.

64%
Above $5K Income
Below $5K Income

Research conducted in partnership with the International Finance Corporation and released this year reveals 56% of WING customers werepreviously unbanked. Of these 67% are women, 48% live outside the capital Phnom Penh and 64% live in households where income is lessthan US$5K per annum.

Implement employee wellbeing programs and reduce
our Lost time Injury Frequency Rate (LtIFR) in Australia(by 5–10%), New Zealand (by 1–5%) and stay under an
LtIFR of 1.0 in India.
Achieve 100,000 hours volunteering globally and undertakeskilled volunteering pilots in Australia, the philippines, papua
New Guinea and Vietnam.
Implement a new approach to payroll giving and achieve
15% employee participation in Australia and New Zealand.
SUPPLIERS

KEY GOALS WE SET OUT TO ACHIEVE IN 2010

PERFORMANCE

Complete and release an evaluation of our programs supporting rural financial inclusion in
Cambodia (WING).
Complete and release an evaluation of our programs supporting rural financial inclusion in thepacific (Banking the Unbanked).
ACHIEVED OR ON TRACK TO ACHIEVEPARTIALLY ACHIEVED OR IN PROGRESSRESPONSIBLE PRACTICES CONTINUED

Maintain our leadership position on customer satisfaction
among the major banks in Australia and improve our
performance in New Zealand.

Implement products and services to assist clients andcustomers with the transition towards a lower-carbon
economy including increasing the proportion of lending
to the renewable energy sector.

A $1.5 million grant from the Australian Government’s AusAID
Enterprise Challenge Fund has helped to extend the availabilityof WING outside urban centres.
Our experience with WING has taught us much about the
emerging market of mobile phone banking and payments,
the ‘next wave’ of banking innovation.

RESPONSIBLE PRACTICESCUSTOMERS

Develop, implement and report on a Global Sourcing policy
and Global Supplier Code of practice incorporating social,environmental and governance standards.
Continue to implement and report on our program ofverification and spot checks for compliance with oursustainability standards among high-risk suppliers.

Continue implementation of our CR framework by
developing clear criteria and flagship programs to support
each of our priority areas.
Continue implementation of our human rights standards
including publicly reporting our progress.
Complete a review of investment portfolios across ourbusiness against the guidelines set out in the UN principles
for Responsible Investment.
Implement enhanced social and environmental policies,
training and evaluation processes for sensitive sector
clients in Asia pacific.
Continue to develop a strong risk-aware culture across thebank through employee training, proactive governancehealth checks and implementation of our Global policy
Governance Framework.

EDUCATION AND EMPLOYMENT OPPORTUNITIES

Increase the proportion of women in management at alllevels of the organisation and achieve at least 40% in total
by 2011.
provide 100 additional traineeships to Indigenous
Australians and convert at least 65% of those whocomplete the program to permanent ANZ employees.
Support the advancement of people with disability
through a business mentoring program; by employing an
additional 35 people with a self nominated disability acrossour global business; and achieve at least a 75% retention
rate for our 2009–2011 intake.
Achieve a 100% completion rate for the 15 participants in
our Australian refugee employment pathway program.
Achieve a 2% increase in the number of Māori graduatesin our New Zealand internship program.
Visit anz.com/cr/targets for more detail

DID NOT ACHIEVE

See anz.com/cr/performance for more detail34

ANZ in Your World

35

ANZ IN YOUR WORLDOUR tARGEtS 2011 CONtINUED
BRIDGING URBAN AND RURAL SOCIAL AND ECONOMIC DIVIDESFINANCIAL CAPABILITY CONTINUED

Implement innovative products and services to supportsocial, economic and financial inclusion.

Implement targeted initiatives that respond to our Financial
Knowledge Survey of the Ngāi tahu Māori community in NZ.

Increase availability of our mobile phone savings andmoney transfer service in Cambodia to 185 districts andassist customers to save a total of $450,000 by reducing
the cost of remittances from urban to regional areas.

Conduct and publicly release our latest benchmark research
into adult financial literacy in Australia.

Achieve 15% growth in deposits and micro-loans in our
Rural banking business in Fiji.
Achieve an above industry average loan-to-deposit ratio
for ANZ Rural Bank in Liangping China and extend our
agricultural education program to a further 2,000 farmers
in the region.
FINANCIAL CAPABILITY

Reach an additional 30,000 people from low-income anddisadvantaged backgrounds with our MoneyMindedfinancial capability program, adapted where appropriate
for local cultures and contexts.
Work with our community partners and the AustralianGovernment to enrol 7,600 people in our Saver plus program
over two years.
Work with the Brotherhood of St Laurence to write 1,000
new progress Loans over two years using funding from theAustralian Government to pilot new approaches to support
long-term financial and social sustainability.

URBAN SUSTAINABILITY

FIVE YEAR
SUMMARY

Support the design, building and construction sectors inadvancing urban sustainability by conducting education
sessions at our 6-Star Green Star Global headquarters.

2010
$m

2009
$m

2008
$m

2007
$m

2006
$m

Net interest income

10,862

9,890

7,855

7,302

6,943

Other operating income

4,920

4,477

4,440

3,765

3,146

Operating expenses(6,971)(6,068)(5,406)(4,953)(4,605)

Profit before provisions and income tax

8,811

8,299

6,889

6,114

5,484

FINANCIAL PERFORMANCE1

Maintain our carbon neutral commitment across ouroperations globally.
Work towards achieving our
two-year environmental goals inAustralia and New Zealand:

AUS

NZ

– Absolute reduction in GhG

–6%

–2%

– premises energy per FtE

–6%

–2.5%

Provision for credit impairment(1,820)(3,056)(2,090)

(567)

(407)

– paper consumed per FtE

–10%

–10%

Income tax expense and non-controlling interests(1,966)(1,471)(1,373)(1,623)(1,490)– Water use per FtE

–10%

Est
base-line

5,025

3,772

3,426

3,924

3,587

(524)

(829)

(107)

256

101

4,501

2,943

3,319

4,180

3,688

531,739

476,987

470,293392,773

334,640– Waste recycled

+10%

+10%

Implement our revised Environmental Management System
in a pilot market in Asia.

Underlying profit1
Adjustments between statutory and underlying profit
Profit attributable to shareholders of the Company
FINANCIAL POSITION

AssetsVisit anz.com/cr/targets for more detail

Net assets

34,15532,42926,552

22,04819,906

2

10.1%

10.6%

7.7%

6.7%

6.8%

Return on average ordinary equity3

13.9%

10.3%

14.5%

20.9%

20.7%

Return on average assets

0.9%

0.6%

0.8%

1.2%

1.1%

Cost to income (underlying)1

44.2%

42.2%

44.0%

44.9%

45.6%

1.9%

40.3%

–33.5%

15.6%

17.1%

60,61461,08538,26355,38249,331

126 cents

102 cents

136 cents

136 cents

125 cents$23.68$24.39$18.75$29.70$26.86

1,394

1,352

1,340

1,327

1,265

Number of employees (full-time equivalent)

46,917

37,68736,92534,35332,256

Number of shareholders

411,692

396,181

376,813327,703291,262

Tier 1 capital ratio

REpORtING At ANZ
Our 2010 corporate responsibility (CR) reporting comprises
the information contained in this review and the information
contained on our website.
ASSURANCEANZ uses the London Benchmarking Group (LBG) framework
for measuring and reporting community contributions andachievements. Positive Outcomes has provided an assurance
statement available at www.anz.com/lbg.
BEYOND THIS REPORTANZ has used the AA1000 Accountability Principles Standard(AA1000APS – 2008) in the preparation of our 2010 reporting.
Corporate Citizenship has provided an external assurance
statement in keeping with the International Standard on
Assurance Engagements (ISAE 3000) and the Accountability
Assurance Standard (AA1000AS – 2008).

Our website anz.com contains detailed information
about ANZ and our CR agenda including our programs
and initiatives, our performance against our goals and ourapproach to governance, stakeholder engagement anddecision making.

GLOBAL REPORTING INITIATIVE

We are interested in your views on how we report our
performance, whether it’s specific to your experienceswith us or suggestions on how to make our business orreporting better.

We used the Global Reporting Initiative (GRI) Sustainability
Guidelines (including the Financial Services Sector
Supplement) and our engagement with stakeholders
throughout the year, including customers, governments,
regulators, employees, NGOs and external experts indetermining the content for our reporting.

36

LONDON BENCHMARKING GROUPFEEDBACK

Feedback is always welcome and you can tell us what
you think by emailing: aboutus@anz.com.

1

SHAREHOLDER VALUE – ORDINARY SHARES

Total return to shareholders(share price movement plus dividends)
Market capitalisation
Dividend
Share price – 30 September closing price
OTHER INFORMATION

Points of representation

4

1. Adjusted for material items that are not part of the normal ongoing operations of the Group including one-off gains and losses, non-continuing businesses, timing differences on
economic hedges and acquisition related costs. 2. Basel II has been applied from 1 January 2008. Prior to that values were calculated using Basel I methodology. 3. Average ordinary
shareholders’ equity excludes non-controlling interests and preference share dividend. 4. Excludes employees whose only ANZ shares are held in trust under ANZ employee share schemes.

Five Year Summary

37

YOUR DIRECtORS

the Board is responsible to shareholders for the governance of ANZ, and oversees ANZ’s operations
and financial performance. It approves the strategic direction, financial objectives and appropriate
risk appetite for the organisation.

FINANCIALYEARSHORT-TERM
EMPLOYEEBENEFITS$POSTEMPLOYMENT$TERMINATIONBENEFITS
$

TOTAL
$

2010

566,250

14,646–580,8962009

272,987

13,924–

286,9112010

261,000

14,646–

275,6462009

251,083

13,924–265,0072010

276,000

14,646–

290,646

2009

207,973

13,343–

221,3162010

235,000

14,646–249,646

2009

139,412

10,149–149,5612010

272,000

14,646–286,646

2009

265,000

13,924–

278,9242010

306,000

14,646–

320,6462009

287,000

13,924–300,9242010

303,000

14,646–317,646

2009

231,943

13,477–

245,420

CB Goode (Appointed Director July 1991;
appointed Chairman August 1995;
retired February 2010)
Independent Non-Executive Director

2010

334,483

7,231

1,398,845

1,740,559

2009

783,000

13,924–

796,924JK Ellis (Appointed October 1995;
retired December 2009)
Independent Non-Executive Director

2010

51,5463,615

478,333

533,4942009

253,014

13,924–

266,938

2,605,279

113,368

1,877,178

4,595,825

DIRECTORS’ REMUNERATION 2009 AND 2010

Current Non-Executive Directors
JOHN MORSCHEL
Chairman
Chair of GovernanceCommittee

GREGORY CLARK
Chair of Technology
Committee

PETER HAY

IAN MACFARLANE, AC

LLB (Melb), FAICD

Chair of Risk Committee
BEc (Hons), MEc, Hon DSc (Syd),
Hon DSc (UNSW), Hon DCom
(Melb), Hon DLitt (Macq), Hon
LLD (Monash)

BSc (Hons), PhD, FAPS, FTSE

DipQS, FAICD

Director since October 2004.
Chairman since March 2010.
Ex officio member all Board
Committees.

Director since February 2004.
Member of the GovernanceCommittee and Human
Resources Committee.

Director since November 2008.
Member of the Audit Committee,
Human Resources Committee
and Risk Committee.

Director since February 2007.
Member of the GovernanceCommittee and Technology
Committee.

JP Morschel (Appointed Director October 2004:
Appointed Chairman March 2010)
Independent Non-Executive Director, Chairman
GJ Clark (Appointed February 2004)
Independent Non-Executive Director
PAF Hay (Appointed November 2008)
Independent Non-Executive Director
HY Lee (Appointed February 2009)
Independent Non-Executive Director
IJ Macfarlane (Appointed February 2007)
Independent Non-Executive Director
DE Meiklejohn (Appointed October 2004)
Independent Non-Executive Director

DAVID MEIKLEJOHN, AM
Chair of Audit Committee
BCom, DipEd, FCPA, FAICD,
FAIM

Director since October 2004.
Member of the Human
Resources Committee andRisk Committee.

ALISON WATKINS
Chair of Human
Resources Committee

LEE HSIEN YANG
MSc, BA

BCom, FCA, F Fin, FAICD

Director since November 2008.
Member of the Audit Committee
and Risk Committee.

Director since February 2009.
Member of the Risk Committee
and Technology Committee.

The above information sets out Board Committee memberships as at 30 September 2010.
Full biography details can be found on our website: www.anz.com/about-us/our-company/executive/board-of-directors.

38

MICHAEL SMITH, OBE
Chief Executive Officer
Executive Director
BSc (Hons)

Chief Executive Officer since
1 October 2007.

AM Watkins (Appointed November 2008)
Independent Non-Executive Director
Former Non-Executive Directors

2010 Total of all Non-Executive Directors

Your Directors

39

REMUNERATIONOVERVIEW

Executives – Key Management Personnel
The following tables cover those disclosed Executives who were employed at the Executive level for 2009/10
and for comparison include tables for 2008/09 from last year’s remuneration report. The tables detail:The actual amounts or grants made in respect of the years 2008/09 and 2009/10;
Any amounts which had to be deferred in respect of the years 2008/09 and 2009/10; andThe actual amounts received in respect of the years 2008/09 and 2009/10.

The following provides a summary of the remuneration for the Chief Executive Officer and Key Management Personnel*.
The summary delineates between remuneration paid or realised in the current year and that awarded in the current yearthat is realised in subsequent years. A more detailed Remuneration Report is contained in the Annual Report pages 15 to 45.
The Report can be accessed via the ANZ website as well as in hard copy.
ANZ designed its remuneration framework to focus our people on creating and building value for our shareholders andother stakeholders. We aim to ensure there is a strong alignment between the short and long-term interests of both ourshareholders and the executive team.
There are three components to remuneration – fixed pay, short term incentive and long term incentive. In the case of the
Chief Executive Officer his remuneration opportunity is split evenly between the three components. In the case of Executives,a significant portion of their remuneration is ‘at risk’ but will differ from executive to executive.

Remuneration Structure – Chief Executive Officer
The following table, relating to the CEO, shows:
The actual amounts or grants made in respect of the years 2008/09 and 2009/10;
Any amounts which had to be deferred in respect of the years 2008/09 and 2009/10; andFixed Pay
($)

STI
($)

LTI
($)

Other
grants/benefits
($)

TOTAL
($)

Amounts paid or granted in respect of 2009/10 year

1,000,000

1,140,000

500,000

2,595

2,642,595

less amounts which must be deferred in respect of 2009/10 year
Amounts received in respect of 2009/10 year–
1,000,000

470,000
670,000

500,000–––

970,000
1,672,595

Amounts paid or granted in respect of 2008/09 year

1,000,000

850,000

500,000–

2,350,000

less amounts which must be deferred in respect of 2008/09 year
Amounts received in respect of 2008/09 year–
1,000,000

325,000
525,000

500,000–––

825,000
1,525,000

Amounts paid or granted in respect of 2009/10 year

1,100,000

1,320,000

425,000

60,5652,905,565

less amounts which must be deferred in respect of 2009/10 year
Amounts received in respect of 2009/10 year–
1,100,000

560,000
760,000

425,000––
60,565985,000
1,920,565

Chief Financial Officer(P MARRIOTT)1

2009/10

2008/09

Chief Risk Officer(C PAGE)2

The actual amounts received in respect of the years 2008/09 and 2009/10.

2009/10

Fixed Pay
($)

STI
($)

LTI2
($)

Other
grants/benefits
($)

TOTAL
($)

Chief Executive Officer(M smith)1

2008/09

2009/10Amounts paid or granted in respect of 2008/09 year

850,000

1,600,000

425,000

301,988

3,176,988–
850,000

700,000
900,000

425,000––
301,988

1,125,000
2,051,988

Amounts paid or granted in respect of 2009/10 year

1,000,000

1,140,000

500,000

17,3092,657,309

less amounts which must be deferred in respect of 2009/10 year
Amounts received in respect of 2009/10 year–
1,000,000

470,000
670,000

500,000––
17,309970,000
1,687,309

Amounts paid or granted in respect of 2008/09 year

1,000,000

860,000

500,000

145,940

2,505,940

less amounts which must be deferred in respect of 2008/09 year
Amounts received in respect of 2008/09 year–
1,000,000

330,000
530,000

500,000––
145,940

830,000
1,675,940

Amounts paid or granted in respect of 2009/10 year

3,000,000

4,750,000–

5,5003

7,755,500

less amounts which must be deferred in respect of 2008/09 year
Amounts received in respect of 2008/09 year

less amounts which must be deferred in respect of 2009/10 year
Amounts received in respect of 2009/10 year–
3,000,000

2,250,000
2,500,000–––
5,50032,250,000
5,505,500

DEPUTY Chief Executive Officer(G HODGES)3

Amounts paid or granted in respect of 2008/09 year

3,000,000

4,500,000–

1,594,0003,4

9,094,000

less amounts which must be deferred in respect of 2008/09 year
Amounts received in respect of 2008/09 year–
3,000,000

2,100,000
2,400,000––

1,589,0004
5,00033,689,000
5,405,000

2008/09

1. On commencement with ANZ, M Smith was granted three tranches of equity valued at $3 million each. The first of these tranches of deferred shares became available
on 2 Oct 08 – price at vesting $19.0610 (based on 1 day VWAP as at 2 Oct 08). Therefore the value of this tranche at date of vesting was $2,096,920. The second tranche
became available on 2 Oct 09 – price at vesting $23.5600 (based on 1 day VWAP as at 2 Oct 09). Therefore the value of this tranche at date of vesting was $2,591,859.
These amounts are not reflected in the table above as they relate to a specific equity arrangement associated with his commencement and are not a part of his standard
remuneration arrangements. 2. LTI grants covering the CEO’s first three years in the role were granted on his commencement and, therefore, no further grants were madein 2009/10 or 2008/09. A LTI grant is proposed for 2010/11, subject to approval by shareholders at the 2010 AGM. No value was received from previous LTI grants in either
the current or previous years. 3. Provision of Australian taxation return services by PricewaterhouseCoopers. 4. Special equity grant – Dec 08 – 700,000 options valued @$2.27 per option.
* The term Key Management Personnel is defined under the Corporations Act.

40

2009/10

2008/09

 . Marriott – Equity which has been previously disclosed in remuneration reports in prior years that first vested in 2009/10 included STI Deferred Shares and Options granted 31 October
1
2008 and LTI Performance Rights granted 24 October 2006. At the respective vesting dates the total value of the equity was $1,600,774. Other grants/benefits includes car parking.
2. Page – Other grants/benefits for 2009/10 includes relocation expenses and taxation services provided by PricewaterhouseCoopers and for 2008/09 includes relocation expenses.
No equity from prior years first vested in 2009/10. 3. Hodges – Other grants/benefits for 2009/10 includes taxation services provided by PricewaterhouseCoopers and for 2008/09 includes
relocation expenses including an annual leave payment on change of contracts on transfer from New Zealand to Australia. Equity which has been previously disclosed in remuneration
reports in prior years that first vested in 2009/10 included STI Deferred Options and Rights granted 31 October 2008 and LTI Performance Rights granted 24 October 2006. At the respective
vesting dates the total value of the equity was $1,698,143.

Remuneration Overview

41

REMUNERAtION OVERVIEW CONtINUED

Executives – Key Management Personnel Continued

FIxED PAY($)

HANDY CONTACTS

STI
($)

LTI
($)

OTHER
GRANTS/
BENEFITS
($)

TOTAL
($)

CHIEF ExECUTIVE OFFICER, ASIA PACIFIC, EUROPE AND AMERICA(A THURSBY)4

2009/10Amounts paid or granted in respect of 2009/10 year
less amounts which must be deferred in respect of 2009/10 year
Amounts received in respect of 2009/10 year

1,000,000–
1,000,000

2,500,000
1,150,000
1,350,000

550,000
550,000–

23,570–23,5704,073,570
1,700,000
2,373,570

Amounts paid or granted in respect of 2008/09 year
less amounts which must be deferred in respect of 2008/09 year

1,000,000–

2,600,000
1,200,000

550,000
550,000

88,351–4,238,351
1,750,000

Amounts received in respect of 2008/09 year

1,000,000

1,400,000–

88,351

2,488,351

CHIEF ExECUTIVE OFFICER, AUSTRALIA(P CHRONICAN)5

2009/10Amounts paid or granted in respect of 2009/10 year

1,079,000

1,400,000

650,000

296,974

3,425,974

less amounts which must be deferred in respect of 2009/10 year
Amounts received in respect of 2009/10 year–
1,079,000

600,000
800,000

650,000––
296,974

1,250,000
2,175,974

CHIEF ExECUTIVE OFFICER, INSTITUTIONAL(S ELLIOTT)6

2009/101,000,000–
1,000,000

2,500,000
1,150,000
1,350,000

550,000
550,000–

12,334–
12,3344,062,334
1,700,000
2,362,334

FORMER ExECUTIVESFORMER CHIEF ExECUTIVE OFFICER, NEW ZEALAND(J FAGG)7

2009/10Amounts paid or granted in respect of 2009/10 year
less amounts which must be deferred in respect of 2009/10 year
Amounts received in respect of 2009/10 year

782,000–
782,000

892,400
354,200
538,200

391,000
391,000–

105,359–
105,359

2,170,759
745,200
1,425,559

4. Thursby – Other grants/benefits includes relocation expenses. Equity which has been previously disclosed in remuneration reports in prior years that first vested in 2009/10
included STI Deferred Shares and Options granted 31 October 2008. At the vesting dates the total value of the equity was $778,843. In addition to remuneration shown above,Thursby received an equity grant in 2008/09 in accordance with his employment arrangements on joining ANZ. ANZ agreed to provide Thursby with three separate tranchesof deferred shares to the value of $1 million per annum. The first grant was made on 3 September 2007, the second on 28 August 2008 and the final tranche was granted on
22 September 2009. The shares are restricted and held in trust for three years from the date of allocation. The first tranche became available on 3 September 2010, valued at$804,989 at vesting. 5. Chronican – Chronican commenced on 30 November 2009 so payments reflect amounts received for the partial service for the 2009/10 year. Other grants/
benefits includes relocation expenses and car parking. In addition to the remuneration shown above, Chronican received a LTI equity grant in December 2009. As Chronican joined ANZ
in November 2009 he was not included in the LTI grants made to other Management Board members in early November. Accordingly, this grant was made in December on similar terms
and conditions as those provided to Management Board for 2009, apart from the allocation value which varied to reflect different values at the respective grant dates. 6. Elliott – Other
grants/benefits includes relocation expenses and taxation services provided by Ernst & Young. No equity from prior years first vested in 2009/10. In addition to remuneration shown
above, Elliott received an equity grant in 2008/09 in accordance with his employment arrangements on joining ANZ. ANZ agreed to provide Elliott with shares to the value of$125,000 deferred for 1 year and shares to the value of $125,000 deferred for two years. The shares were granted on 11 June 2009. The one year deferred shares became available
on 11 June 2010, valued at $172,589 at vesting. 7. Fagg – Fagg stepped down on 1 September 2010 so actual payments have been prorated based on time as a Key Management
Personnel in the 2009/10 year. Other grants/benefits includes relocation expenses and taxation services provided by PricewaterhouseCoopers. Equity which has been previously
disclosed in remuneration reports in prior years that first vested in 2009/10 included LTI Performance Rights granted 24 October 2006. At the vesting date the total value of the equity
was $804,743. In addition to remuneration shown above, Fagg received a special equity grant in 2006/07 for retention purposes. ANZ agreed to provide Fagg with an allocation of
three year deferred shares to the maximum value of $300,000, granted on 3 September 2007. The deferred shares became available on 3 September 2010, valued at $241,483 at vesting.

42

INVESTOR RELATIONSCORPORATE AFFAIRSAUSTRALIA

Level 9, 833 Collins Street
Docklands VIC 3008 Australia
Telephone +61 3 8654 7682
Facsimile +61 3 8654 9977
Email: investor.relations@anz.com
Website: shareholder.anz.com

Level 9, 833 Collins Street
Docklands VIC 3008 Australia
Telephone +61 3 8654 3276
Facsimile +61 3 8654 9911

Computershare Investor Services Pty Ltd
GPO Box 2975 Melbourne
VIC 3001 Australia
Telephone 1800 11 33 99 (Within Australia)+61 3 9415 4010 (International Callers)
Facsimile +61 3 9473 2500
anzshareregistry@computershare.com.au

Group General Manager Investor
Relations: Jill Craig

Group General Manager
Corporate Affairs: Gerard Brown

NEW ZEALAND
CORPORATE RESPONSIBILITY

2008/09

Amounts paid or granted in respect of 2009/10 year
less amounts which must be deferred in respect of 2009/10 year
Amounts received in respect of 2009/10 year

SHARE REGISTRARCOMPANY SECRETARY’S OFFICE

Private Bag 92119 Auckland 1142
New Zealand
Telephone 0800 174 007
Facsimile +64 9 488 8787

Level 9, 833 Collins Street
Docklands VIC 3008 Australia
Telephone +61 3 8654 8587
Facsimile +61 3 8542 5252

Level 9, 833 Collins Street
Docklands VIC Australia 3008
Telephone +61 3 8654 3221
Facsimile +61 3 8654 9911
Website: anz.com/cr

Company Secretary:
John Priestley

Head of Corporate Responsibility:
Julie Bisinella

OUR INTERNATIONAL PRESENCEIMPORTANT DATES FOR SHAREHOLDERS*UNITED KINGDOMThe Pavilions
Bridgwater Road Bristol BS99 6ZY
United Kingdom
Telephone +44 870 702 0000
Facsimile +44 870 703 6101

Australia

DATE

EVENT

New Zealand

3 MAY 2011

Interim Results Announcement

Asia – Cambodia, China, Hong Kong,
India, Indonesia, Japan, Korea, Laos,
Malaysia, the Philippines, Singapore,
Taiwan, Thailand, Vietnam

12 MAY 2011

Interim Dividend Ex-Date

18 MAY 2011

Interim Dividend Record Date

1 JULY 2011

Interim Dividend Payment Date

3 NOVEMBER 2011

Annual Results Announcement

10 NOVEMBER 2011

Final Dividend Ex-Date

16 NOVEMBER 2011

Final Dividend Record Date

Europe16 DECEMBER 2011

Final Dividend Payment Date

Middle East

16 DECEMBER 2011

Annual General Meeting

Pacific – American Samoa,
Cook Islands, East Timor, Fiji,
Guam, Kiribati, New Caledonia,
Papua New Guinea, Samoa,
Solomon Islands, Tonga, Vanuatu

United Kingdom
United States of America* If there are any changes to these dates, the Australian Securities Exchange
will be notified accordingly.

Lynx Opaque is an FSC Mixed Sources Certified
paper, which ensures that all virgin pulp is derived
from well-managed forests and controlled sources.
It is elemental chlorine free and is manufacturedby an ISO 14001 certified mill.

Five Year Summary

43

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anz.com
Australia and New Zealand Banking Group Limited
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