Comments on Statement of Financial Position
As at 30 June 2005
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Group Assets
The Group’s assets increased by $23 billion to $329 billion (2004: $306 billion) over the year.
Total lending assets increased by $30 billion from $206 billion to $236 billion at 30 June 2005 reflecting growth across a range of lending products.
The total provisions for impairment for the Group at 30 June 2005 were $1,547 million, broadly consistent with the prior year. This level of provisioning is considered adequate to cover any bad debt write-offs from the current lending portfolio.
The general provision as a percentage of Risk Weighted Assets was 0.73%.
Capital Management
The Group maintains a strong capital position.
As at 30 June 2005, the Capital Adequacy Ratio was 9.75% (well above the regulatory requirement of 8%), compared with 10.25% at 30 June 2004.
Credit Ratings
The long term credit ratings of the Bank remain at AA-, Aa3 and AA
from Standard & Poor’s, Moody’s and Fitch respectively.