Credit rating• The Overseas Bank has three current credit ratings, issued byStandard and Poor’s, Moody’s Investors Service and Fitch
Ratings, which are applicable to its long term senior unsecured
obligations, including obligations payable in New Zealand in
New Zealand dollars.
• During the two-year period ended 30 September 2009, theStandard and Poor’s credit rating and qualification remained at
AA and Outlook Stable.
• During the two-year period ended 30 September 2009, theMoody’s Investors Service credit rating and qualification
remained at Aa1. On 2 March 2009 the Outlook changed from
Stable to Negative.
• During the two-year period ended 30 September 2009, theFitch Ratings credit rating and qualification remained at AAand Outlook Stable. Fitch Ratings were formally engaged by
the Overseas Bank on 18 March 2008 to provide credit rating
services. Previously Fitch Ratings had rated the Overseas Bankon an unsolicited basis as AA-.

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 to
A$1million in the winding up of the Overseas Bank.
In addition, certain deposits of the Overseas Bank are
guaranteed for amounts over A$1million, and certain wholesale
term funding liabilities of the Overseas Bank are guaranteed
under the Australian Government Guarantee Scheme for Large
Deposits and Wholesale Funding (“Wholesale Funding
Guarantee”). Both the FCS and Wholesale Funding Guarantee
apply to the Registered Bank, as a branch of the Overseas Bank.
Further information about the FCS is available from theAustralian Treasury www.treasury.gov.au. Further information
about the Wholesale Guarantee Scheme is available from theAustralian Government www.guaranteescheme.com.au.
Additional information on each guarantee scheme is available
in the NZ Branch’s most recent General Disclosure Statement
and Supplemental Disclosure Statement.
• The NZ Branch does not have a guarantee under the
New Zealand Deposit Guarantee Scheme or the New Zealand
Wholesale Funding Guarantee Facility as at 24 November 2009.

Australia and New Zealand
Banking Group Limited –New Zealand Branch

Auditor’s Report to the Directors of 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 Disclosure Statement of Australia and New Zealand
Banking Group Limited - New Zealand Branch (the “NZ Branch”) and its
related entities (the “NZ Banking Group”) for the year ended 30 September
2009 prepared in accordance with the Registered Bank DisclosureStatement (Full and Half-Year – Overseas Incorporated Registered Banks)
Order 2008 (the “Order”).

Key Information Summary for the year
ended 30 September 2009
Introductory information

We have audited the financial statements and certain supplementary
information contained within the General Disclosure Statement for theyear ended 30 September 2009, on which we issued an unqualified
opinion dated 24 November 2009.

Directors’ Responsibilities
The Directors are responsible for the preparation and presentation of 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 for compliance with theOrder, and reporting our findings to you.

• The purpose of this Key Information Summary is to provide
customers and potential customers with information about thefinancial condition of their bank.

Key Information Summary
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED- NEW ZEALAND BRANCH• 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?”, 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;

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 Disclosure Statement for the year ended 30 September 2009.

“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 New Zealandoperations of Australia and New Zealand Banking Group
Limited, including those operations conducted throughthe 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.

For the year ended 30 September 2009
No.4 Issued November 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 accordance with
the Order; and• the information contained in the Key Information Summary has been
properly extracted, where applicable, from the information contained in
the General Disclosure Statement for the year ended 30 September 2009.
For a better understanding of the scope of our examination of Australia
and New Zealand Banking Group Limited - New Zealand Branch’s General
Disclosure Statement, and of the balance sheet of the NZ Branch and NZ
Banking Group as at 30 September 2009 and the results of their operations
and cash flows for the year ended on that date, this report should be readin conjunction with the General Disclosure Statement for the year ended
30 September 2009 from which the information in the Key Information
Summary was extracted and our auditor’s report thereon.
Our audit was completed on 24 November 2009 and our unqualifiedstatement of findings is expressed as at that date.

Wellington

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

Credit rating• The Overseas Bank has three current credit ratings, issued byStandard and Poor’s, Moody’s Investors Service and Fitch
Ratings, which are applicable to its long term senior unsecured
obligations, including obligations payable in New Zealand in
New Zealand dollars.
• During the two-year period ended 30 September 2009, theStandard and Poor’s credit rating and qualification remained at
AA and Outlook Stable.
• During the two-year period ended 30 September 2009, theMoody’s Investors Service credit rating and qualification
remained at Aa1. On 2 March 2009 the Outlook changed from
Stable to Negative.
• During the two-year period ended 30 September 2009, theFitch Ratings credit rating and qualification remained at AAand Outlook Stable. Fitch Ratings were formally engaged by
the Overseas Bank on 18 March 2008 to provide credit rating
services. Previously Fitch Ratings had rated the Overseas Bankon an unsolicited basis as AA-.

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 to
A$1million in the winding up of the Overseas Bank.
In addition, certain deposits of the Overseas Bank are
guaranteed for amounts over A$1million, and certain wholesale
term funding liabilities of the Overseas Bank are guaranteed
under the Australian Government Guarantee Scheme for Large
Deposits and Wholesale Funding (“Wholesale Funding
Guarantee”). Both the FCS and Wholesale Funding Guarantee
apply to the Registered Bank, as a branch of the Overseas Bank.
Further information about the FCS is available from theAustralian Treasury www.treasury.gov.au. Further information
about the Wholesale Guarantee Scheme is available from theAustralian Government www.guaranteescheme.com.au.
Additional information on each guarantee scheme is available
in the NZ Branch’s most recent General Disclosure Statement
and Supplemental Disclosure Statement.
• The NZ Branch does not have a guarantee under the
New Zealand Deposit Guarantee Scheme or the New Zealand
Wholesale Funding Guarantee Facility as at 24 November 2009.

Australia and New Zealand
Banking Group Limited –New Zealand Branch

Auditor’s Report to the Directors of 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 Disclosure Statement of Australia and New Zealand
Banking Group Limited - New Zealand Branch (the “NZ Branch”) and its
related entities (the “NZ Banking Group”) for the year ended 30 September
2009 prepared in accordance with the Registered Bank DisclosureStatement (Full and Half-Year – Overseas Incorporated Registered Banks)
Order 2008 (the “Order”).

Key Information Summary for the year
ended 30 September 2009
Introductory information

We have audited the financial statements and certain supplementary
information contained within the General Disclosure Statement for theyear ended 30 September 2009, on which we issued an unqualified
opinion dated 24 November 2009.

Directors’ Responsibilities
The Directors are responsible for the preparation and presentation of 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 for compliance with theOrder, and reporting our findings to you.

• The purpose of this Key Information Summary is to provide
customers and potential customers with information about thefinancial condition of their bank.

Key Information Summary
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED- NEW ZEALAND BRANCH• 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?”, 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;

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 Disclosure Statement for the year ended 30 September 2009.

“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 New Zealandoperations of Australia and New Zealand Banking Group
Limited, including those operations conducted throughthe 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.

For the year ended 30 September 2009
No.4 Issued November 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 accordance with
the Order; and• the information contained in the Key Information Summary has been
properly extracted, where applicable, from the information contained in
the General Disclosure Statement for the year ended 30 September 2009.
For a better understanding of the scope of our examination of Australia
and New Zealand Banking Group Limited - New Zealand Branch’s General
Disclosure Statement, and of the balance sheet of the NZ Branch and NZ
Banking Group as at 30 September 2009 and the results of their operations
and cash flows for the year ended on that date, this report should be readin conjunction with the General Disclosure Statement for the year ended
30 September 2009 from which the information in the Key Information
Summary was extracted and our auditor’s report thereon.
Our audit was completed on 24 November 2009 and our unqualifiedstatement of findings is expressed as at that date.

Wellington

Corporate information• The full name of the Overseas Bank is Australia and
New Zealand Banking Group Limited. Australia and
New Zealand Banking Group Limited is a company registeredand domiciled 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 year ended 30 September 2009

Key Information Summary for the year ended 30 September 2009

Overseas Banking Group
Audited
Audited30/09/2009 30/09/2008
A$m
A$m

NZ Banking Group
Audited
Audited30/09/2009 30/09/2008
NZ$m
NZ$m

Profitability
Net profit after tax for the year ended 30 September
Net profit after tax for the year ended 30 September as a percentage of average total assets

2,945
0.6%

3,327
0.8%

194
0.2%

990
0.9%

476,987
1.4%

470,293
19.7%

126,3142.6%

123,078
14.4%

Size as at 30 September
Total assets
The percentage increase in total assets from 1 October to 30 September

Overseas Banking Group

Overseas Bank
(Extended Licensed Entity )Unaudited
30/09/2009%

Unaudited
30/09/2008%

Unaudited
30/09/2009%

Unaudited
30/09/2008
%

10.6
13.7

7.7
11.1

11.6
14.2

8.4
11.6

Capital Adequacy
Tier One Capital as a percentage of risk weighted exposures
Total Capital as a percentage of risk weighted exposures

Overseas Banking Group
Audited
Audited30/09/2009 30/09/2008
A$m
A$m

NZ Banking Group
Audited
Audited30/09/2009 30/09/2008
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
Off-balance sheet impaired assets ($m)

5,060
1.1%
1,526
30.2%
3,000
535

2,498
0.5%
675
27.0%
2,821
167

1,188
0.9%
477
40.2%
804
32

327
0.3%
132
40.4%
534
6

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 Basel II Accord cameinto effect from 1 January 2008. The Overseas Banking Group and the Overseas Bank (Extended Licensed Entity) (as defined by APRA), met theminimum capital adequacy requirements as specified by APRA as at 30 September 2009 and 30 September 2008. APRA specifies a minimum
prudential capital ratio for the Overseas Banking Group, which is not made publicly available.

Peak Credit Exposure Concentrations - for the three months ended 30 September
For the three months ended 30 September 2009, the NZ Banking Group had no peak end-of-day credit exposures, on the basis of limits, to any bank or
non-bank counterparties, equal to or in excess of 10% of the Overseas Banking Group’s equity (30 September 2008: nil). The peak end-of-day exposures
have been calculated using the Overseas Banking Group’s equity as at 30 September 2009. The equity used in calculating the comparatives was as at
30 September 2008. These calculations exclude credit exposures to the central government of any country with a long term credit rating of A- or A3 orabove, 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 class of unsecured
creditors of the Registered Bank on the assets of the Overseas Bank to those of another class of unsecured creditors of the Overseas Bank, inliquidation of the Overseas Bank.
The Banking Act 1959 of the Commonwealth of Australia (the “Banking Act”) gives priority over Australian assets of the Overseas Bank to Australiandepositors if the Overseas Bank is unable to meet its obligations or suspends payment. Accordingly, New Zealand depositors (together with allother senior unsecured creditors of the Overseas Bank) will rank after Australian depositors of 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 theOverseas 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 the 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 in administration of the Financial Claims Scheme in respect of the ADI;c) third, in payment of the ADI’s deposit liabilities in Australia (other than liabilities covered under paragraph (a)); andd) fourth, the ADI’s other liabilities (in order of priority apart from section 13A(3)).
Under section 13A(1) of the Banking Act, in certain circumstances APRA may take control of an ADI or appoint an administrator (defined in 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 respect of APRA’s costs (including
costs in the nature of remuneration and expenses) of being in control of the ADI’s business or of having an administrator in control of the ADI’sbusiness 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 the winding up of companies, but
subject to section 13A(3) of the Banking Act, debts due to the Reserve Bank of Australia by any ADI shall, in a winding up, have priority over all otherdebts other than debts due to the Commonwealth of Australia.
Section 13A(3) affects all of the unsecured deposit liabilities of the NZ Branch which as at 30 September 2009 amounted to $nil (30 September 2008 : $nil).

Non-consolidated activities
The Overseas Bank carries on insurance business in New Zealand through the NZ Banking Group’s 49% share in the ING NZ joint venture. The NZ Banking
Group does not carry on insurance business directly. No non-financial activities are carried on 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 statements of the Overseas Bank and the Overseas Banking Group is contained in the NZ
Branch’s most recent Supplemental Disclosure Statement.

Availability of Disclosure Statements
Copies of NZ Branch’s most recent General 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 NZ Branch’s head office, Level 14, ANZ Tower, 215-229 Lambton Quay, Wellington.
This Key Information Summary, the most recent General Disclosure Statement and Supplemental Disclosure Statement can be accessed at thewebsite addresses www.anz.co.nz and www.nationalbank.co.nz.

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 year ended 30 September 2009

Key Information Summary for the year ended 30 September 2009

Overseas Banking Group
Audited
Audited30/09/2009 30/09/2008
A$m
A$m

NZ Banking Group
Audited
Audited30/09/2009 30/09/2008
NZ$m
NZ$m

Profitability
Net profit after tax for the year ended 30 September
Net profit after tax for the year ended 30 September as a percentage of average total assets

2,945
0.6%

3,327
0.8%

194
0.2%

990
0.9%

476,987
1.4%

470,293
19.7%

126,3142.6%

123,078
14.4%

Size as at 30 September
Total assets
The percentage increase in total assets from 1 October to 30 September

Overseas Banking Group

Overseas Bank
(Extended Licensed Entity )Unaudited
30/09/2009%

Unaudited
30/09/2008%

Unaudited
30/09/2009%

Unaudited
30/09/2008
%

10.6
13.7

7.7
11.1

11.6
14.2

8.4
11.6

Capital Adequacy
Tier One Capital as a percentage of risk weighted exposures
Total Capital as a percentage of risk weighted exposures

Overseas Banking Group
Audited
Audited30/09/2009 30/09/2008
A$m
A$m

NZ Banking Group
Audited
Audited30/09/2009 30/09/2008
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
Off-balance sheet impaired assets ($m)

5,060
1.1%
1,526
30.2%
3,000
535

2,498
0.5%
675
27.0%
2,821
167

1,188
0.9%
477
40.2%
804
32

327
0.3%
132
40.4%
534
6

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 Basel II Accord cameinto effect from 1 January 2008. The Overseas Banking Group and the Overseas Bank (Extended Licensed Entity) (as defined by APRA), met theminimum capital adequacy requirements as specified by APRA as at 30 September 2009 and 30 September 2008. APRA specifies a minimum
prudential capital ratio for the Overseas Banking Group, which is not made publicly available.

Peak Credit Exposure Concentrations - for the three months ended 30 September
For the three months ended 30 September 2009, the NZ Banking Group had no peak end-of-day credit exposures, on the basis of limits, to any bank or
non-bank counterparties, equal to or in excess of 10% of the Overseas Banking Group’s equity (30 September 2008: nil). The peak end-of-day exposures
have been calculated using the Overseas Banking Group’s equity as at 30 September 2009. The equity used in calculating the comparatives was as at
30 September 2008. These calculations exclude credit exposures to the central government of any country with a long term credit rating of A- or A3 orabove, 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 class of unsecured
creditors of the Registered Bank on the assets of the Overseas Bank to those of another class of unsecured creditors of the Overseas Bank, inliquidation of the Overseas Bank.
The Banking Act 1959 of the Commonwealth of Australia (the “Banking Act”) gives priority over Australian assets of the Overseas Bank to Australiandepositors if the Overseas Bank is unable to meet its obligations or suspends payment. Accordingly, New Zealand depositors (together with allother senior unsecured creditors of the Overseas Bank) will rank after Australian depositors of 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 theOverseas 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 the 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 in administration of the Financial Claims Scheme in respect of the ADI;c) third, in payment of the ADI’s deposit liabilities in Australia (other than liabilities covered under paragraph (a)); andd) fourth, the ADI’s other liabilities (in order of priority apart from section 13A(3)).
Under section 13A(1) of the Banking Act, in certain circumstances APRA may take control of an ADI or appoint an administrator (defined in 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 respect of APRA’s costs (including
costs in the nature of remuneration and expenses) of being in control of the ADI’s business or of having an administrator in control of the ADI’sbusiness 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 the winding up of companies, but
subject to section 13A(3) of the Banking Act, debts due to the Reserve Bank of Australia by any ADI shall, in a winding up, have priority over all otherdebts other than debts due to the Commonwealth of Australia.
Section 13A(3) affects all of the unsecured deposit liabilities of the NZ Branch which as at 30 September 2009 amounted to $nil (30 September 2008 : $nil).

Non-consolidated activities
The Overseas Bank carries on insurance business in New Zealand through the NZ Banking Group’s 49% share in the ING NZ joint venture. The NZ Banking
Group does not carry on insurance business directly. No non-financial activities are carried on 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 statements of the Overseas Bank and the Overseas Banking Group is contained in the NZ
Branch’s most recent Supplemental Disclosure Statement.

Availability of Disclosure Statements
Copies of NZ Branch’s most recent General 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 NZ Branch’s head office, Level 14, ANZ Tower, 215-229 Lambton Quay, Wellington.
This Key Information Summary, the most recent General Disclosure Statement and Supplemental Disclosure Statement can be accessed at thewebsite addresses www.anz.co.nz and www.nationalbank.co.nz.

Credit rating• The Overseas Bank has three current credit ratings, issued byStandard and Poor’s, Moody’s Investors Service and Fitch
Ratings, which are applicable to its long term senior unsecured
obligations, including obligations payable in New Zealand in
New Zealand dollars.
• During the two-year period ended 30 September 2009, theStandard and Poor’s credit rating and qualification remained at
AA and Outlook Stable.
• During the two-year period ended 30 September 2009, theMoody’s Investors Service credit rating and qualification
remained at Aa1. On 2 March 2009 the Outlook changed from
Stable to Negative.
• During the two-year period ended 30 September 2009, theFitch Ratings credit rating and qualification remained at AAand Outlook Stable. Fitch Ratings were formally engaged by
the Overseas Bank on 18 March 2008 to provide credit rating
services. Previously Fitch Ratings had rated the Overseas Bankon an unsolicited basis as AA-.

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 to
A$1million in the winding up of the Overseas Bank.
In addition, certain deposits of the Overseas Bank are
guaranteed for amounts over A$1million, and certain wholesale
term funding liabilities of the Overseas Bank are guaranteed
under the Australian Government Guarantee Scheme for Large
Deposits and Wholesale Funding (“Wholesale Funding
Guarantee”). Both the FCS and Wholesale Funding Guarantee
apply to the Registered Bank, as a branch of the Overseas Bank.
Further information about the FCS is available from theAustralian Treasury www.treasury.gov.au. Further information
about the Wholesale Guarantee Scheme is available from theAustralian Government www.guaranteescheme.com.au.
Additional information on each guarantee scheme is available
in the NZ Branch’s most recent General Disclosure Statement
and Supplemental Disclosure Statement.
• The NZ Branch does not have a guarantee under the
New Zealand Deposit Guarantee Scheme or the New Zealand
Wholesale Funding Guarantee Facility as at 24 November 2009.

Australia and New Zealand
Banking Group Limited –New Zealand Branch

Auditor’s Report to the Directors of 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 Disclosure Statement of Australia and New Zealand
Banking Group Limited - New Zealand Branch (the “NZ Branch”) and its
related entities (the “NZ Banking Group”) for the year ended 30 September
2009 prepared in accordance with the Registered Bank DisclosureStatement (Full and Half-Year – Overseas Incorporated Registered Banks)
Order 2008 (the “Order”).

Key Information Summary for the year
ended 30 September 2009
Introductory information

We have audited the financial statements and certain supplementary
information contained within the General Disclosure Statement for theyear ended 30 September 2009, on which we issued an unqualified
opinion dated 24 November 2009.

Directors’ Responsibilities
The Directors are responsible for the preparation and presentation of 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 for compliance with theOrder, and reporting our findings to you.

• The purpose of this Key Information Summary is to provide
customers and potential customers with information about thefinancial condition of their bank.

Key Information Summary
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED- NEW ZEALAND BRANCH• 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?”, 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;

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 Disclosure Statement for the year ended 30 September 2009.

“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 New Zealandoperations of Australia and New Zealand Banking Group
Limited, including those operations conducted throughthe 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.

For the year ended 30 September 2009
No.4 Issued November 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 accordance with
the Order; and• the information contained in the Key Information Summary has been
properly extracted, where applicable, from the information contained in
the General Disclosure Statement for the year ended 30 September 2009.
For a better understanding of the scope of our examination of Australia
and New Zealand Banking Group Limited - New Zealand Branch’s General
Disclosure Statement, and of the balance sheet of the NZ Branch and NZ
Banking Group as at 30 September 2009 and the results of their operations
and cash flows for the year ended on that date, this report should be readin conjunction with the General Disclosure Statement for the year ended
30 September 2009 from which the information in the Key Information
Summary was extracted and our auditor’s report thereon.
Our audit was completed on 24 November 2009 and our unqualifiedstatement of findings is expressed as at that date.

Wellington

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

Credit rating• The Overseas Bank has three current credit ratings, issued byStandard and Poor’s, Moody’s Investors Service and Fitch
Ratings, which are applicable to its long term senior unsecured
obligations, including obligations payable in New Zealand in
New Zealand dollars.
• During the two-year period ended 30 September 2009, theStandard and Poor’s credit rating and qualification remained at
AA and Outlook Stable.
• During the two-year period ended 30 September 2009, theMoody’s Investors Service credit rating and qualification
remained at Aa1. On 2 March 2009 the Outlook changed from
Stable to Negative.
• During the two-year period ended 30 September 2009, theFitch Ratings credit rating and qualification remained at AAand Outlook Stable. Fitch Ratings were formally engaged by
the Overseas Bank on 18 March 2008 to provide credit rating
services. Previously Fitch Ratings had rated the Overseas Bankon an unsolicited basis as AA-.

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 to
A$1million in the winding up of the Overseas Bank.
In addition, certain deposits of the Overseas Bank are
guaranteed for amounts over A$1million, and certain wholesale
term funding liabilities of the Overseas Bank are guaranteed
under the Australian Government Guarantee Scheme for Large
Deposits and Wholesale Funding (“Wholesale Funding
Guarantee”). Both the FCS and Wholesale Funding Guarantee
apply to the Registered Bank, as a branch of the Overseas Bank.
Further information about the FCS is available from theAustralian Treasury www.treasury.gov.au. Further information
about the Wholesale Guarantee Scheme is available from theAustralian Government www.guaranteescheme.com.au.
Additional information on each guarantee scheme is available
in the NZ Branch’s most recent General Disclosure Statement
and Supplemental Disclosure Statement.
• The NZ Branch does not have a guarantee under the
New Zealand Deposit Guarantee Scheme or the New Zealand
Wholesale Funding Guarantee Facility as at 24 November 2009.

Australia and New Zealand
Banking Group Limited –New Zealand Branch

Auditor’s Report to the Directors of 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 Disclosure Statement of Australia and New Zealand
Banking Group Limited - New Zealand Branch (the “NZ Branch”) and its
related entities (the “NZ Banking Group”) for the year ended 30 September
2009 prepared in accordance with the Registered Bank DisclosureStatement (Full and Half-Year – Overseas Incorporated Registered Banks)
Order 2008 (the “Order”).

Key Information Summary for the year
ended 30 September 2009
Introductory information

We have audited the financial statements and certain supplementary
information contained within the General Disclosure Statement for theyear ended 30 September 2009, on which we issued an unqualified
opinion dated 24 November 2009.

Directors’ Responsibilities
The Directors are responsible for the preparation and presentation of 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 for compliance with theOrder, and reporting our findings to you.

• The purpose of this Key Information Summary is to provide
customers and potential customers with information about thefinancial condition of their bank.

Key Information Summary
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED- NEW ZEALAND BRANCH• 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?”, 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;

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 Disclosure Statement for the year ended 30 September 2009.

“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 New Zealandoperations of Australia and New Zealand Banking Group
Limited, including those operations conducted throughthe 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.

For the year ended 30 September 2009
No.4 Issued November 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 accordance with
the Order; and• the information contained in the Key Information Summary has been
properly extracted, where applicable, from the information contained in
the General Disclosure Statement for the year ended 30 September 2009.
For a better understanding of the scope of our examination of Australia
and New Zealand Banking Group Limited - New Zealand Branch’s General
Disclosure Statement, and of the balance sheet of the NZ Branch and NZ
Banking Group as at 30 September 2009 and the results of their operations
and cash flows for the year ended on that date, this report should be readin conjunction with the General Disclosure Statement for the year ended
30 September 2009 from which the information in the Key Information
Summary was extracted and our auditor’s report thereon.
Our audit was completed on 24 November 2009 and our unqualifiedstatement of findings is expressed as at that date.

Wellington

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