Key Information Summary for the nine months
ended 30 June 2010
Credit rating
The Overseas Bank has three current credit ratings, which
are applicable to its long-term senior unsecured obligations,
including obligations payable in New Zealand in New Zealanddollars. The credit ratings are:Rating Agency

Current Credit
Rating

Qualification

Standard & Poor’sAA

Outlook Stable

Moody’s InvestorsServiceAa1

Outlook Negative

Fitch Ratings

AA-Outlook Positive

On 20 May 2010, Fitch changed the outlook on the Overseas Bank
from Stable to Positive. On 2 March 2009, Moody’s changedthe outlook on ANZ Banking Group Limited from Stable toNegative. During the two year period ended 30 June 2010 there
were no other changes to the Overseas Bank’s credit ratingsor qualifications.

Government Guarantees• The Overseas Bank has a guarantee under the Financial Claims
Scheme (“FCS”). This scheme provides for an Australian
government guarantee of “protected accounts” up toA$1million in the winding up of the Overseas Bank. In addition,certain deposits of the Overseas Bank are guaranteed foramounts over A$1million, and certain wholesale term funding
liabilities of the Overseas Bank are guaranteed under theAustralian Government Guarantee Scheme for Large Deposits
and Wholesale Funding (“Wholesale Funding Guarantee”).
Both the FCS and Wholesale Funding Guarantee apply to theRegistered Bank, as a branch of the Overseas Bank. Further
information about the FCS is available from the AustralianTreasury www.treasury.gov.au. Further information about theWholesale Guarantee Scheme is available from the AustralianGovernment www.guaranteescheme.gov.au. Additional
information on each guarantee scheme is available in theNZ Branch’s most recent General Short Form DisclosureStatement and Supplemental Disclosure Statement.
• The NZ Branch does not have a guarantee under theNew Zealand Deposit Guarantee Scheme or the New Zealand
Wholesale Funding Guarantee Facility as at 25 August 2010.

Australia and New Zealand Banking
Group Limited – New Zealand Branch

Independent Examination Report to the Directorsof Australia and New Zealand Banking Group Limited– New Zealand Branch
We have examined the attached Key Information Summary.
The information in the Key Information Summary has been extracted
from the General Short Form Disclosure Statement of Australia andNew Zealand Banking Group Limited - New Zealand Branch and itsrelated entities (the “NZ Banking Group”) for the nine months ended
30 June 2010 prepared in accordance with the Registered Bank
Disclosure Statement (Off-Quarter – Overseas Incorporated RegisteredBanks) Order 2008 (the “Order”).
We have reviewed the interim financial statements and certain
supplementary information contained within the General Short Form
Disclosure Statement for the nine months ended 30 June 2010, on
which we issued an unqualified review opinion dated 25 August 2010.

Key Information Summary for the nine months
ended 30 June 2010
Introductory information

Directors’ Responsibilities

Key Information Summary

Auditor’s Responsibilities

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED– NEW ZEALAND BRANCHThe Directors are responsible for the preparation and presentation ofthe Key Information Summary in accordance with the Order.
In accordance with the Order, we are responsible for examining theKey Information Summary presented by the Directors for compliancewith 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 Disclosure Statement for the ninemonths ended 30 June 2010.

Unqualified Statement of Findings

Based on our examination of the Key Information Summary, we report
that:• the Key Information Summary has been prepared in accordance withthe Order; and• the information contained in the Key Information Summary has been
properly extracted, where applicable, from the information containedin the General Short Form Disclosure Statement for the nine months
ended 30 June 2010.
For a better understanding of the scope of our examination ofAustralia and New Zealand Banking Group Limited - New Zealand
Branch’s General Short Form Disclosure Statement, and of the balance
sheet of the NZ Banking Group as at 30 June 2010 and the results of its
operations and cash flows for the nine months ended on that date,
this report should be read in conjunction with the General Short Form
Disclosure Statement for the nine months ended 30 June 2010 fromwhich the information in the Key Information Summary was extracted
and our independent review report thereon.
Our review was completed on 25 August 2010 and our unqualifiedstatement of findings is expressed as at that date.
Wellington

For the nine months ended 30 June 2010
Number 7 Issued August 2010

• The purpose of this Key Information Summary is to provide
customers and potential customers with information about thefinancial condition of their bank.
• The information contained in the Key Information Summaryis explained in the Reserve Bank publication “Your Bank’sDisclosure Statement - What’s In It For You?”, which can beobtained from the Reserve Bank.
• In this Key Information Summary, reference is made to thefollowing:•“Overseas Banking Group” refers to the worldwide
operations of Australia and New Zealand Banking Group
Limited including its controlled entities;•“Overseas Bank” or “Ultimate Parent Bank” refers to theworldwide operations of Australia and New Zealand
Banking Group Limited excluding its controlled entities;•“NZ Banking Group” refers to the aggregated NewZealand operations of Australia and New Zealand
Banking Group Limited, including those operations
conducted through the NZ Branch and controlled
entities of the Overseas Bank registered in New Zealand;•“NZ Branch” or “Registered Bank” refers to the New
Zealand operations of the Overseas Bank, as conducted
through the NZ Branch.

Corporate information• The full name of the Overseas Bank is Australia and New Zealand
Banking Group Limited which is a company registered anddomiciled in Victoria, Australia.

Australia and New Zealand Banking Group Limited – New Zealand Branch

Australia and New Zealand Banking
Group Limited – New Zealand Branch

Key Information Summary for the nine months ended 30 June 2010
Overseas Banking Group
Unaudited
Unaudited
31/03/2010 31/03/2009
A$m
A$m
Profitability
Net profit after tax for the six months ended 31 March

1,925

1,417

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

0.7%

0.6%

506,708

502,798

0.8%

14.9%

Size as at 31 March
Total assets
The percentage increase in total assets from 1 April to 31 MarchNZ Banking Group
Unaudited
Unaudited
30/06/2010 30/06/2009NZ$m
NZ$m
Profitability
Net profit after tax for the nine months ended 30 June
Net profit after tax for the year ended 30 June as a percentage of average total assets

620
0.3%

4780.5%

122,359(3.1)%

126,2309.8%

Size as at 30 june
Total assets
The percentage increase / (decrease) in total assets from 1 July to 30 June
Overseas Banking Group

Overseas Bank

Unaudited
30/06/2010%

Unaudited
30/06/2009%

Unaudited
31/03/2010%

Unaudited
31/03/2009
%

10.3%
12.6%

9.7%
12.4%

11.9%
13.7%

9.0%
11.5%

Capital AdequacyTier One Capital as a percentage of risk weighted exposures
Total Capital as a percentage of risk weighted exposures

Overseas Banking Group
Unaudited
Unaudited
31/03/2010 31/03/2009
A$m
A$m

NZ Banking Group
Unaudited
Unaudited
30/06/2010 30/06/2009
NZ$m
NZ$m

Asset Quality
Total impaired assets (on-balance sheet)
Total impaired assets as a percentage of total assets
Total individual provisions
Total individual provisions as a percentage of total impaired assets
Total collective provisions
Non-financial assets acquired through the enforcement of security

5,8881.2%
1,593
27.1%
3,037-

4,141
0.8%
1,341
32.4%
2,742-

1,831
1.5%
629
34.4%
854-

873
0.7%
404
46.3%
634
-

For calculation of minimum capital requirements under Pillar I of the Basel II Accord, the Overseas Banking Group has been accredited by theAustralian Prudential Regulation Authority (“APRA”) to use the Advanced Internal Ratings Based (“AIRB”) methodology for calculation of credit
risk weighted assets and the Advanced Measurement Approach (“AMA”) for the operational risk weighted asset equivalent. The Overseas
Banking Group and the Overseas Bank (Extended Licensed Entity), as defined by APRA, met the minimum capital adequacy requirements as
specified by APRA as at 30 June 2010 and 30 June 2009. APRA specifies a minimum prudential capital ratio for the Overseas Banking Group,
which is not made publicly available.

Key Information Summary for the nine months
ended 30 June 2010
Peak credit exposure concentrations – for the quarter
ended 30 June
For the quarter ended 30 June 2010, the NZ Banking Group had nopeak end-of-day credit exposures, on the basis of limits, to any bank ornon-bank counterparties, equal to or in excess of 10% of the Overseas
Banking Group’s equity (30 June 2009: nil). The peak end-of-day
exposures have been calculated using the Overseas Banking Group’sequity as at 31 March 2010. The equity used in calculating thecomparatives was as at 31 March 2009. These calculations exclude
credit exposures to the central government of any country with a longterm credit rating of A- or A3 or above, or its equivalent.

Ranking of local creditors in liquidation
There are material legislative restrictions in the Overseas Bank’s
country of incorporation which subordinate the claims of a classof unsecured creditors of the Registered Bank on the assets of theOverseas Bank to those of another class of unsecured creditorsof the Overseas Bank, in liquidation of the Overseas Bank.
The Banking Act 1959 of the Commonwealth of Australia (the “BankingAct”) gives priority over Australian assets of the Overseas Bank todeposits/liabilities in Australia if the Overseas Bank is unable to meetits obligations or suspends payment. Accordingly, deposits/liabilities
in New Zealand (together with all other senior unsecured creditorsof the Overseas Bank) will rank after deposits/liabilities in Australiaof the Overseas Bank in relation to claims against Australian assets.
Specifically, pursuant to section 13A(3) of the Banking Act, if an
Authorised Deposit Taking Institution (defined in that Act to include
a Bank like the Overseas Bank) (an “ADI”) becomes unable to meet its
obligations or suspends payment, the assets of the ADI in Australia
are to be available to meet the ADI’s liabilities in the following order:a) first, the ADI’s liabilities to APRA (if any), because of the rights APRA
has against the ADI because APRA has made, or is required tomake, payments to depositors under the Financial Claims Scheme;(b) second, the ADI’s debts to APRA for costs incurred by APRA inadministration of the Financial Claims Scheme in respect of the ADI;(c) third, the ADI’s liabilities (if any) in Australia in relation toprotected accounts that account-holders keep with the ADI(d) fourth, the ADI’s debts (if any) to the Reserve Bank of Australia(e) fifth, the ADI’s liabilities (if any) under an industry support contractthat is unified by APRA; and(f ) fourth, the ADI’s other liabilities (in order of priority apart fromsection 13A(3)).

Under section 13A(1) of the Banking Act, in certain circumstances
APRA may take control of an ADI or appoint an administrator (definedin the Banking Act) to take control of its business. Section 16(1) and(2) of the Banking Act provide that, despite anything contained in any
law relating to the winding up of companies, but subject to section
13A(3) of the Banking Act, the debts of an ADI to APRA in respectof APRA’s costs (including costs in the nature of remuneration andexpenses) of being in control of the ADI’s business or of having
an administrator in control of the ADI’s business have priority
in a winding up of the ADI over all other unsecured debts.
Section 86 of the Reserve Bank Act 1959 provides that
notwithstanding anything contained in any law relating to thewinding up of companies, but subject to section 13A(3) of theBanking Act, debts due to the Reserve Bank of Australia by any ADI
shall, in a winding up, have priority over all other debts other thandebts due to the Commonwealth of Australia.
Section 13A(3) affects all of the unsecured deposit liabilities of the NZ
Branch which as at 30 June 2010 amounted to $nil (30 June 2009: $nil).

Non-consolidated activities
On 30 November 2009, the NZ Banking Group purchased ING Groep’s
51% interest in ING (NZ) Holdings Limited group (“ING NZ”) and ING
NZ has been fully consolidated since that date. Insurance business isconducted directly through ING NZ since its acquisition in November
2009. Prior to this, the Overseas Bank had carried on insurance
business in New Zealand through the NZ Banking Group’s 49% sharein the ING NZ joint venture and the NZ Banking Group did not carryon insurance business directly. No non-financial activities are carriedon in New Zealand outside of the NZ Banking Group.

Financial statements of the Overseas Bank and Overseas
Banking GroupA copy of the most recent publicly available financial statementsof the Overseas Bank and the Overseas Banking Group is containedin the NZ Branch’s most recent Supplemental Disclosure Statement.

Availability of Disclosure Statements
Copies of NZ Branch’s most recent General Short Form DisclosureStatement and Supplemental Disclosure Statement will be provided
at no charge immediately to any person requesting a copy where
the request is made at the NZ Branch’s head office, Level 6,
1 Victoria Street, Wellington.
This Key Information Summary, the most recent General Short Form
Disclosure Statement and Supplemental Disclosure Statement canbe accessed at the website address www.anz.com.