ANZ National Bank Limited
Key Information Summary for the three months
ended 31 December 2010
Government Guarantees
The Bank has guarantees under the New Zealand
Wholesale Funding Facility, which is provided undera Crown Wholesale Funding Guarantee in respect of
the Bank entered into by the Crown on 23 December
2008 and supplemented on 19 February 2009(“Crown Wholesale Guarantee”). The government
closed the Crown Wholesale Guarantee to new debt
securities on 30 April 2010. The closure did not affectdebt securities previously issued with the benefit of
the Crown Wholesale Guarantee. Further information
about the Crown Wholesale Guarantee is available
on the Treasury website treasury.govt.nz and in theBank’s most recent General Short Form DisclosureStatement and Supplemental Disclosure Statement.
As at 18 February 2011, the Bank does not have aguarantee under any New Zealand government retaildeposit guarantee scheme.

ANZ National Bank Limited
Independent Examination Report to the Directors of ANZ
National Bank Limited
We have examined the attached Key Information Summary.
The information in the Key Information Summary has been
extracted from the General Short Form Disclosure Statementof ANZ National Bank Limited and its subsidiaries (the “BankingGroup”) for the three months ended 31 December 2010
prepared in accordance with the Registered Bank DisclosureStatement (Off-Quarter – New Zealand Incorporated RegisteredBanks) Order 2008 (the “Order”).
We have reviewed the interim financial statements andcertain supplementary information contained within theGeneral Short Form Disclosure Statement for the three months
ended 31 December 2010, on which we issued an unqualified
review opinion dated 18 February 2011.
Directors’ Responsibilities
The Directors are responsible for the preparation andpresentation of the Key Information Summary in accordancewith the Order.
Auditor’s Responsibilities
In accordance with the Order, we are responsible for examining
the Key Information Summary presented by the Directors forcompliance with the Order, and reporting our findings to you.
Basis of Report
We have examined the information contained in the Key
Information Summary and compared it to the corresponding
information contained in the General Short Form DisclosureStatement for the three months ended 31 December 2010.
Unqualified Statement of Findings
Based on our examination of the Key Information Summary,
we report that:• the Key Information Summary has been prepared inaccordance with the Order; and• the information contained in the Key Information Summary
has been properly extracted, where applicable, from theinformation contained in the General Short Form DisclosureStatement for the three months ended 31 December 2010.
For a better understanding of the scope of our examinationof ANZ National Bank Limited’s General Short Form DisclosureStatement, and of the balance sheet of the Banking Group as
at 31 December 2010 and the results of their operations andcash flows for the three months ended on that date, this report
should be read in conjunction with the General Short FormDisclosure Statement for the three months ended 31 December
2010 from which the information in the Key Information
Summary was extracted and our independent review
report thereon.
Our review was completed on 18 February 2011 and ourunqualified statement of findings is expressed as at that date.
Wellington

Key Information Summary for the three months
ended 31 December 2010
Introductory information
The purpose of this Key Information Summary is
to provide customers and potential customers withinformation about the financial condition of their bank.
The information contained in the Key Information
Summary is explained in the Reserve Bank ofNew Zealand publication “Your Bank’s DisclosureStatement – What’s In It For You?”, which can beobtained from the Reserve Bank of New Zealand.

Key Information Summary
ANZ NATIONAL BANK LIMITEDFor the three months ended 31 December 2010
Number 60 Issued February 2011

Corporate information
The full name of the registered bank is ANZ National Bank
Limited (the “Bank”). The full name of the Ultimate Parent
Bank of the Bank is Australia and New Zealand Banking
Group Limited, which is domiciled in Victoria, Australia.
Credit Rating
As at 18 February 2011 the Bank has three credit ratings,
which are applicable to its long-term senior unsecured
obligations which are payable in New Zealand inNew Zealand dollars. On 16 February 2011 Moody’s
placed the Bank’s Aa2 long-term debt and deposit
ratings on review for possible downgrade. This followed
a similar action on the Ultimate Parent Bank and theother major Australian Banks. On 20 May 2010 Fitchchanged the outlook on the Bank from Stable toPositive. During the two years ended 31 December 2010
there were no other changes to the Bank’s credit ratingsor qualifications.
The Bank’s Credit Ratings are:Rating Agency

Current Credit
Rating

Qualification

Standard & Poor’sAA

Outlook StableMoody’s InvestorsServiceAa2

Review forPossible
Downgrade

Fitch Ratings

AA-Outlook Positive

ANZ National Bank Limited

ANZ National Bank Limited

Key Information Summary for the three months ended 31 December 2010

Key Information Summary for the three months ended 31 December 2010
Peak credit exposure concentrations – for the quarter ended 31 December

BANKING GROUP
Unaudited
31/12/2010

Unaudited
31/12/2009

Profitability
Net profit after tax for three months ended 31 December ($m)

258

243

Net profit after tax for the year ended 31 December as a percentage of average total assets

0.7%

0.3%

Size – as at 31 December

The number of individual counterparties (excluding OECD Governments and connected persons), where the Banking Group’s quarter end andpeak end-of-day credit exposure over the quarter equals or exceeds 10% of equity (as at the end of the quarter) in ranges of 10% of equity, on thebasis of limits, are:BANKING GROUP
Unaudited 31/12/2010
Number of counterparties

Unaudited 31/12/2009

As at

Peak forthe quarter

As at

Peak forthe quarter

113,803

115,103

Concentrations of credit risk to bank counterparties(1.1)%(12.9)%

10% to 20% of equity

3312Capital Adequacy – as at 31 December

20% to 30% of equity---

1Tier One Capital as a percentage of risk weighted exposures

10.1%

9.6%

Concentrations of credit risk to non bank counterparties

Reserve Bank of New Zealand minimum Tier One Capital ratio

4.0%

4.0%

10% to 20% of equity

111

1Total Capital as a percentage of risk weighted exposures

13.4%

13.3%

Reserve Bank of New Zealand minimum Total Capital ratio

8.0%

8.0%

There were no individual provisions on the exposures included in the disclosures above. No account is taken of security and/or guarantees which
the Bank may hold in respect of the various counterparty limits and exposures.

Total assets ($m)
The percentage increase / (decrease) in total assets from 1 January to 31 December

Peak connected persons credit exposures – for the quarter ended 31 December

Asset Quality – as at 31 December
Total impaired assets ($m)

2,006

1,322

Total impaired assets as a percentage of total assets

1.8%

1.1%

Unaudited 31/12/2010

588562

29.3%

42.5%

Amount$m% of Tier
One Capital

Amount$m

738794On a gross basis

4,785

68.8%

4,923

73.1%

Amount netted off

3,361

48.4%

2,787

41.4%

On a partial bilateral net basis1

1,424

20.5%

2,136

31.7%

Total individual provisions ($m)
Total individual provisions as a percentage of total impaired assets
Total collective provisions ($m)

BANKING GROUP
Unaudited 31/12/2009% of Tier
One Capital

The peak end-of-day aggregate credit exposures to connected persons were:

1. Netting has occurred in respect of certain transactions which are the subject of a bilateral netting agreement disclosed in the Bank’s most recent Supplemental Disclosure Statement for thethree months ended 31 December 2010.

There were no individual provisions on exposures to connected persons and the information stated above excludes exposures of acapital nature. The Bank and its subsidiaries have complied with the limits on aggregate credit exposures to connected persons andnon-bank connected persons, as set out in the Bank’s Conditions of Registration, at all times during the period and comparative period.
Availability of Disclosure Statements
Copies of the Bank’s most recent General Short Form Disclosure Statement and Supplemental Disclosure Statement will
be provided at no charge immediately to any person requesting a copy where the request is made at the Bank’s head office,Level 6, 1 Victoria Street, Wellington; and within five working days where the request is made at any branch or agency of theBank. This Key Information Summary, the most recent General Short Form Disclosure Statement and Supplemental DisclosureStatement can be accessed at the website addresses anz.co.nz and nationalbank.co.nz.