ANZ National Bank Limited
and Subsidiary Companies
Key Information Summary for the three months
ended 31 December 2009
Government Guarantees· The Bank has guarantees under the:· New Zealand Deposit Guarantee Scheme, whichprior to 1 January 2010 was provided under a
Deed entered into by the Bank and the Crownon 14 November 2008 and supplemented on
9 December 2008 and which from 1 January 2010
was provided under a Deed entered into by the
Bank and the Crown on 18 December 2009 (“Crown
Retail Guarantee”); and· New Zealand Wholesale Funding Facility, which isprovided under a Deed entered into by the Bankand the Crown on 23 December 2008 andsupplemented on 19 February 2009 (“Crown
Wholesale Guarantee”).
· Further information about the Crown Retail Guarantee
and Crown Wholesale Guarantee is available on the
Treasury website www.treasury.govt.nz and in the
Bank’s most recent General Short Form DisclosureStatement and Supplemental Disclosure Statement.

ANZ National Bank Limited
and Subsidiary Companies
Key Information Summary for the three months
ended 31 December 2009

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 Statement of ANZ National
Bank Limited and its subsidiaries (the “Banking Group”) for the threemonths ended 31 December 2009 prepared in accordance with theRegistered Bank Disclosure Statement (Off-Quarter – New Zealand
Incorporated Registered Banks) 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 three months ended
31 December 2009, on which we issued an unqualified review
opinion dated 11 February 2010.
Directors’ Responsibilities
The Directors are responsible for the preparation and presentationof the Key Information Summary in accordance with 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 2009.
Unqualified Statement of Findings
Based on our examination of the Key Information Summary,
we report that:· the Key Information Summary has been prepared in accordancewith the Order; and· the information contained in the Key Information Summary has
been properly extracted, where applicable, from the information
contained in the General Short Form Disclosure Statement for thethree months ended 31 December 2009.
For a better understanding of the scope of our examination of
ANZ National Bank Limited’s General Short Form DisclosureStatement, and of the balance sheet of the Banking Group as at
31 December 2009 and the results of their operations and cash
flows for the three months ended on that date, this report should
be read in conjunction with the General Short Form DisclosureStatement for the three months ended 31 December 2009 fromwhich the information in the Key Information Summary was
extracted and our independent review report thereon.
Our review was completed on 11 February 2010 and our unqualifiedstatement of findings is expressed as at that date.

Wellington

Introductory information· The purpose of this Key Information Summary is toprovide 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 publication“Your Bank’s Disclosure Statement – What’s In It For
You?”. This publication can be obtained from theReserve Bank.

Key Information Summary
ANZ NATIONAL BANK LIMITED GROUP
for the three months ended 31 December 2009
Number 56 issued February 2010

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 Australia.
Credit Rating· The Bank has three current credit ratings, issued byStandard & Poor’s, Moody’s Investors Service, andFitch Ratings which are applicable to its long term
senior unsecured obligations which are payable in
New Zealand in New Zealand dollars.
· During the two-year period ended 31 December 2009,
the Standard & Poor’s credit rating and qualification
remained at AA and Outlook Stable.
· During the two-year period ended 31 December
2009, the Moody’s Investors Service credit rating andqualification remained at Aa2 and Outlook Stable.
· During the two-year period ended 31 December
2009, the Fitch Ratings credit rating and qualification
remained at AA- and Outlook Stable. Fitch Ratings wereformally engaged by the Bank on 18 March 2008 toprovide credit rating services. Previously Fitch Ratings
had rated the Bank on an unsolicited basis as AA-.

ANZ National Bank Limited
and Subsidiary Companies
Key Information Summary for the three months
ended 31 December 2009
Government Guarantees· The Bank has guarantees under the:· New Zealand Deposit Guarantee Scheme, whichprior to 1 January 2010 was provided under a
Deed entered into by the Bank and the Crownon 14 November 2008 and supplemented on
9 December 2008 and which from 1 January 2010
was provided under a Deed entered into by the
Bank and the Crown on 18 December 2009 (“Crown
Retail Guarantee”); and· New Zealand Wholesale Funding Facility, which isprovided under a Deed entered into by the Bankand the Crown on 23 December 2008 andsupplemented on 19 February 2009 (“Crown
Wholesale Guarantee”).
· Further information about the Crown Retail Guarantee
and Crown Wholesale Guarantee is available on the
Treasury website www.treasury.govt.nz and in the
Bank’s most recent General Short Form DisclosureStatement and Supplemental Disclosure Statement.

ANZ National Bank Limited
and Subsidiary Companies
Key Information Summary for the three months
ended 31 December 2009

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 Statement of ANZ National
Bank Limited and its subsidiaries (the “Banking Group”) for the threemonths ended 31 December 2009 prepared in accordance with theRegistered Bank Disclosure Statement (Off-Quarter – New Zealand
Incorporated Registered Banks) 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 three months ended
31 December 2009, on which we issued an unqualified review
opinion dated 11 February 2010.
Directors’ Responsibilities
The Directors are responsible for the preparation and presentationof the Key Information Summary in accordance with 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 2009.
Unqualified Statement of Findings
Based on our examination of the Key Information Summary,
we report that:· the Key Information Summary has been prepared in accordancewith the Order; and· the information contained in the Key Information Summary has
been properly extracted, where applicable, from the information
contained in the General Short Form Disclosure Statement for thethree months ended 31 December 2009.
For a better understanding of the scope of our examination of
ANZ National Bank Limited’s General Short Form DisclosureStatement, and of the balance sheet of the Banking Group as at
31 December 2009 and the results of their operations and cash
flows for the three months ended on that date, this report should
be read in conjunction with the General Short Form DisclosureStatement for the three months ended 31 December 2009 fromwhich the information in the Key Information Summary was
extracted and our independent review report thereon.
Our review was completed on 11 February 2010 and our unqualifiedstatement of findings is expressed as at that date.

Wellington

Introductory information· The purpose of this Key Information Summary is toprovide 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 publication“Your Bank’s Disclosure Statement – What’s In It For
You?”. This publication can be obtained from theReserve Bank.

Key Information Summary
ANZ NATIONAL BANK LIMITED GROUP
for the three months ended 31 December 2009
Number 56 issued February 2010

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 Australia.
Credit Rating· The Bank has three current credit ratings, issued byStandard & Poor’s, Moody’s Investors Service, andFitch Ratings which are applicable to its long term
senior unsecured obligations which are payable in
New Zealand in New Zealand dollars.
· During the two-year period ended 31 December 2009,
the Standard & Poor’s credit rating and qualification
remained at AA and Outlook Stable.
· During the two-year period ended 31 December
2009, the Moody’s Investors Service credit rating andqualification remained at Aa2 and Outlook Stable.
· During the two-year period ended 31 December
2009, the Fitch Ratings credit rating and qualification
remained at AA- and Outlook Stable. Fitch Ratings wereformally engaged by the Bank on 18 March 2008 toprovide credit rating services. Previously Fitch Ratings
had rated the Bank on an unsolicited basis as AA-.

ANZ National Bank Limited and Subsidiary Companies

ANZ National Bank Limited and Subsidiary Companies

Key Information Summary for the three months ended 31 December 2009

Key Information Summary for the three months ended 31 December 2009
Peak Credit Exposure Concentrations – for the three months ended 31 December

CONSOLIDATED
Unaudited
31/12/2009

Unaudited
31/12/2008· Net profit after tax for the three months ended 31 December ($m)

243

210

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

0.3%

0.9%

Profitability

Size – as at 31 December

The number of individual counterparties (excluding banks or groups of closely related counterparties of which a bank is the parent, connected
persons, and the central government of any country with a long-term credit rating of A-/A3 or above, or its equivalent) where the peak end-of-day
credit exposures equals or exceeds 10% of equity (as at the end of the quarter) in ranges of 10% of equity, on the basis of counterparty limits, is:
CONSOLIDATED
Unaudited
31/12/2009

Unaudited
31/12/2008

1

1

10% to 20% of equity· Total assets ($m)

115,103

132,127· The percentage (decrease) increase in total assets from 1 January to 31 December(12 .9%)

20.7%· Tier One Capital as a percentage of risk weighted exposures

9.6%

8.2%

· Reserve Bank of New Zealand minimum Tier One Capital ratio

4.0%· Minimum Tier One Capital ratio under Crown Wholesale Guarantee

Capital Adequacy – as at 31 December

The number of bank counterparties or groups of closely related counterparties of which a bank is the parent (excluding connected persons) where
the peak end-of-day credit exposures equals or exceeds 10% of equity (as at the end of the quarter) in ranges of 10% of equity, on the basis ofactual counterparty exposures, is:

10% to 20% of equity

2

3

4.0%

20% to 30% of equity

1

1

6.0%

6.0%

30% to 40% of equity-

1· Total Capital as a percentage of risk weighted exposures

13.3%

11.7%

· 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.

Peak Connected Persons Credit Exposures – for the three months ended 31 December

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

1,322

383

· Total impaired assets as a percentage of total assets

1.1%

0.3%

Unaudited 31/12/2009

562

169

Amount$m% of Tier
One Capital

Amount$m% of Tier
One Capital

42.5%

43.0%

794

556

· On a gross basis

4,923

73.1%

5,889

93.1%

-

-

· On a netted basis

2,787

41.4%

3,962

62.6%

· Total individual provisions ($m)
· Total individual provisions as a percentage of total impaired assets· Total collective provisions ($m)
· Non-financial assets acquired through enforcement of security ($m)

CONSOLIDATED
Unaudited 31/12/2008

The peak end-of-day aggregate credit exposures to connected persons were:· On a partial bilateral net basis1
2,136
31.7%
1,927
30.5%
There were no individual provisions on exposures to connected persons and the information stated above excludes exposures of a capitalnature. The Bank and its subsidiaries have complied with the limits on aggregate credit exposures to connected persons and non-bankconnected persons, as set out in the Bank’s Conditions of Registration, at all times during the quarter and comparative quarter.
1

With effect from 11 August 2008, 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 the three months ended 31 December 2009

Availability of Disclosure Statements
Copies of ANZ National Bank Limited’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 ANZ National Bank Limited’s head office, Level
14, 215-229 Lambton Quay, Wellington (at Level 6, 1 Victoria Street, Wellington, New Zealand effective 1 March 2010); and within five working
days where the request is made at any branch or agency of ANZ National Bank Limited.
This Key Information Summary, the most recent General Disclosure Statement and Supplemental Disclosure Statement can be accessed at thewebsite address www.anz.com.

ANZ National Bank Limited and Subsidiary Companies

ANZ National Bank Limited and Subsidiary Companies

Key Information Summary for the three months ended 31 December 2009

Key Information Summary for the three months ended 31 December 2009
Peak Credit Exposure Concentrations – for the three months ended 31 December

CONSOLIDATED
Unaudited
31/12/2009

Unaudited
31/12/2008· Net profit after tax for the three months ended 31 December ($m)

243

210

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

0.3%

0.9%

Profitability

Size – as at 31 December

The number of individual counterparties (excluding banks or groups of closely related counterparties of which a bank is the parent, connected
persons, and the central government of any country with a long-term credit rating of A-/A3 or above, or its equivalent) where the peak end-of-day
credit exposures equals or exceeds 10% of equity (as at the end of the quarter) in ranges of 10% of equity, on the basis of counterparty limits, is:
CONSOLIDATED
Unaudited
31/12/2009

Unaudited
31/12/2008

1

1

10% to 20% of equity· Total assets ($m)

115,103

132,127· The percentage (decrease) increase in total assets from 1 January to 31 December(12 .9%)

20.7%· Tier One Capital as a percentage of risk weighted exposures

9.6%

8.2%

· Reserve Bank of New Zealand minimum Tier One Capital ratio

4.0%· Minimum Tier One Capital ratio under Crown Wholesale Guarantee

Capital Adequacy – as at 31 December

The number of bank counterparties or groups of closely related counterparties of which a bank is the parent (excluding connected persons) where
the peak end-of-day credit exposures equals or exceeds 10% of equity (as at the end of the quarter) in ranges of 10% of equity, on the basis ofactual counterparty exposures, is:

10% to 20% of equity

2

3

4.0%

20% to 30% of equity

1

1

6.0%

6.0%

30% to 40% of equity-

1· Total Capital as a percentage of risk weighted exposures

13.3%

11.7%

· 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.

Peak Connected Persons Credit Exposures – for the three months ended 31 December

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

1,322

383

· Total impaired assets as a percentage of total assets

1.1%

0.3%

Unaudited 31/12/2009

562

169

Amount$m% of Tier
One Capital

Amount$m% of Tier
One Capital

42.5%

43.0%

794

556

· On a gross basis

4,923

73.1%

5,889

93.1%

-

-

· On a netted basis

2,787

41.4%

3,962

62.6%

· Total individual provisions ($m)
· Total individual provisions as a percentage of total impaired assets· Total collective provisions ($m)
· Non-financial assets acquired through enforcement of security ($m)

CONSOLIDATED
Unaudited 31/12/2008

The peak end-of-day aggregate credit exposures to connected persons were:· On a partial bilateral net basis1
2,136
31.7%
1,927
30.5%
There were no individual provisions on exposures to connected persons and the information stated above excludes exposures of a capitalnature. The Bank and its subsidiaries have complied with the limits on aggregate credit exposures to connected persons and non-bankconnected persons, as set out in the Bank’s Conditions of Registration, at all times during the quarter and comparative quarter.
1

With effect from 11 August 2008, 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 the three months ended 31 December 2009

Availability of Disclosure Statements
Copies of ANZ National Bank Limited’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 ANZ National Bank Limited’s head office, Level
14, 215-229 Lambton Quay, Wellington (at Level 6, 1 Victoria Street, Wellington, New Zealand effective 1 March 2010); and within five working
days where the request is made at any branch or agency of ANZ National Bank Limited.
This Key Information Summary, the most recent General Disclosure Statement and Supplemental Disclosure Statement can be accessed at thewebsite address www.anz.com.

ANZ National Bank Limited
and Subsidiary Companies
Key Information Summary for the three months
ended 31 December 2009
Government Guarantees· The Bank has guarantees under the:· New Zealand Deposit Guarantee Scheme, whichprior to 1 January 2010 was provided under a
Deed entered into by the Bank and the Crownon 14 November 2008 and supplemented on
9 December 2008 and which from 1 January 2010
was provided under a Deed entered into by the
Bank and the Crown on 18 December 2009 (“Crown
Retail Guarantee”); and· New Zealand Wholesale Funding Facility, which isprovided under a Deed entered into by the Bankand the Crown on 23 December 2008 andsupplemented on 19 February 2009 (“Crown
Wholesale Guarantee”).
· Further information about the Crown Retail Guarantee
and Crown Wholesale Guarantee is available on the
Treasury website www.treasury.govt.nz and in the
Bank’s most recent General Short Form DisclosureStatement and Supplemental Disclosure Statement.

ANZ National Bank Limited
and Subsidiary Companies
Key Information Summary for the three months
ended 31 December 2009

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 Statement of ANZ National
Bank Limited and its subsidiaries (the “Banking Group”) for the threemonths ended 31 December 2009 prepared in accordance with theRegistered Bank Disclosure Statement (Off-Quarter – New Zealand
Incorporated Registered Banks) 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 three months ended
31 December 2009, on which we issued an unqualified review
opinion dated 11 February 2010.
Directors’ Responsibilities
The Directors are responsible for the preparation and presentationof the Key Information Summary in accordance with 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 2009.
Unqualified Statement of Findings
Based on our examination of the Key Information Summary,
we report that:· the Key Information Summary has been prepared in accordancewith the Order; and· the information contained in the Key Information Summary has
been properly extracted, where applicable, from the information
contained in the General Short Form Disclosure Statement for thethree months ended 31 December 2009.
For a better understanding of the scope of our examination of
ANZ National Bank Limited’s General Short Form DisclosureStatement, and of the balance sheet of the Banking Group as at
31 December 2009 and the results of their operations and cash
flows for the three months ended on that date, this report should
be read in conjunction with the General Short Form DisclosureStatement for the three months ended 31 December 2009 fromwhich the information in the Key Information Summary was
extracted and our independent review report thereon.
Our review was completed on 11 February 2010 and our unqualifiedstatement of findings is expressed as at that date.

Wellington

Introductory information· The purpose of this Key Information Summary is toprovide 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 publication“Your Bank’s Disclosure Statement – What’s In It For
You?”. This publication can be obtained from theReserve Bank.

Key Information Summary
ANZ NATIONAL BANK LIMITED GROUP
for the three months ended 31 December 2009
Number 56 issued February 2010

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 Australia.
Credit Rating· The Bank has three current credit ratings, issued byStandard & Poor’s, Moody’s Investors Service, andFitch Ratings which are applicable to its long term
senior unsecured obligations which are payable in
New Zealand in New Zealand dollars.
· During the two-year period ended 31 December 2009,
the Standard & Poor’s credit rating and qualification
remained at AA and Outlook Stable.
· During the two-year period ended 31 December
2009, the Moody’s Investors Service credit rating andqualification remained at Aa2 and Outlook Stable.
· During the two-year period ended 31 December
2009, the Fitch Ratings credit rating and qualification
remained at AA- and Outlook Stable. Fitch Ratings wereformally engaged by the Bank on 18 March 2008 toprovide credit rating services. Previously Fitch Ratings
had rated the Bank on an unsolicited basis as AA-.

ANZ National Bank Limited
and Subsidiary Companies
Key Information Summary for the three months
ended 31 December 2009
Government Guarantees· The Bank has guarantees under the:· New Zealand Deposit Guarantee Scheme, whichprior to 1 January 2010 was provided under a
Deed entered into by the Bank and the Crownon 14 November 2008 and supplemented on
9 December 2008 and which from 1 January 2010
was provided under a Deed entered into by the
Bank and the Crown on 18 December 2009 (“Crown
Retail Guarantee”); and· New Zealand Wholesale Funding Facility, which isprovided under a Deed entered into by the Bankand the Crown on 23 December 2008 andsupplemented on 19 February 2009 (“Crown
Wholesale Guarantee”).
· Further information about the Crown Retail Guarantee
and Crown Wholesale Guarantee is available on the
Treasury website www.treasury.govt.nz and in the
Bank’s most recent General Short Form DisclosureStatement and Supplemental Disclosure Statement.

ANZ National Bank Limited
and Subsidiary Companies
Key Information Summary for the three months
ended 31 December 2009

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 Statement of ANZ National
Bank Limited and its subsidiaries (the “Banking Group”) for the threemonths ended 31 December 2009 prepared in accordance with theRegistered Bank Disclosure Statement (Off-Quarter – New Zealand
Incorporated Registered Banks) 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 three months ended
31 December 2009, on which we issued an unqualified review
opinion dated 11 February 2010.
Directors’ Responsibilities
The Directors are responsible for the preparation and presentationof the Key Information Summary in accordance with 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 2009.
Unqualified Statement of Findings
Based on our examination of the Key Information Summary,
we report that:· the Key Information Summary has been prepared in accordancewith the Order; and· the information contained in the Key Information Summary has
been properly extracted, where applicable, from the information
contained in the General Short Form Disclosure Statement for thethree months ended 31 December 2009.
For a better understanding of the scope of our examination of
ANZ National Bank Limited’s General Short Form DisclosureStatement, and of the balance sheet of the Banking Group as at
31 December 2009 and the results of their operations and cash
flows for the three months ended on that date, this report should
be read in conjunction with the General Short Form DisclosureStatement for the three months ended 31 December 2009 fromwhich the information in the Key Information Summary was
extracted and our independent review report thereon.
Our review was completed on 11 February 2010 and our unqualifiedstatement of findings is expressed as at that date.

Wellington

Introductory information· The purpose of this Key Information Summary is toprovide 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 publication“Your Bank’s Disclosure Statement – What’s In It For
You?”. This publication can be obtained from theReserve Bank.

Key Information Summary
ANZ NATIONAL BANK LIMITED GROUP
for the three months ended 31 December 2009
Number 56 issued February 2010

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 Australia.
Credit Rating· The Bank has three current credit ratings, issued byStandard & Poor’s, Moody’s Investors Service, andFitch Ratings which are applicable to its long term
senior unsecured obligations which are payable in
New Zealand in New Zealand dollars.
· During the two-year period ended 31 December 2009,
the Standard & Poor’s credit rating and qualification
remained at AA and Outlook Stable.
· During the two-year period ended 31 December
2009, the Moody’s Investors Service credit rating andqualification remained at Aa2 and Outlook Stable.
· During the two-year period ended 31 December
2009, the Fitch Ratings credit rating and qualification
remained at AA- and Outlook Stable. Fitch Ratings wereformally engaged by the Bank on 18 March 2008 toprovide credit rating services. Previously Fitch Ratings
had rated the Bank on an unsolicited basis as AA-.