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If As a Shareholder You Wish to Continue to Receive This Annual

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If As a Shareholder You Wish to Continue to Receive This Annual Commonwealth Bank of Australia ACN 123 123 124 Annual Report 2000 COMMONWEALTH BANK OF AUSTRALIA AND CONTROLLED ENTITIES Table of Contents Group Performance Summary................................................................................................................................................. 3 Banking Performance Summary.............................................................................................................................................. 6 Life Insurance and Funds Management Performance Summary ............................................................................................. 7 Results Overview .................................................................................................................................................................... 8 Main Financial Indicators......................................................................................................................................................... 9 Products and Services........................................................................................................................................................... 13 Strategy................................................................................................................................................................................. 17 Financial Review Selected Consolidated Financial Data ............................................................................................................................. 20 Integrated Risk Management........................................................................................................................................... 29 (i) Credit Risk........................................................................................................................................................... 29 (ii) Operational Risk .................................................................................................................................................. 30 (iii) Market Risk ......................................................................................................................................................... 30 Capital Management ....................................................................................................................................................... 32 Funding and Liquidity ...................................................................................................................................................... 32 Credit Rating ................................................................................................................................................................... 33 Expansion........................................................................................................................................................................ 33 Guarantee ....................................................................................................................................................................... 33 Year 2000 Compliance .................................................................................................................................................... 33 Capital Adequacy ............................................................................................................................................................ 33 Description of Business......................................................................................................................................................... 35 Corporate Governance.......................................................................................................................................................... 40 Directors’ Report ................................................................................................................................................................... 43 Five Year Financial Summary................................................................................................................................................ 49 Financial Statements............................................................................................................................................................. 52 Statements of Profit and Loss.......................................................................................................................................... 52 Balance Sheets ............................................................................................................................................................... 53 Consolidated Statements of Changes in Shareholders’ Equity........................................................................................ 54 Statements of Cash Flows............................................................................................................................................... 55 Notes to and Forming Part of the Financial Statements................................................................................................... 56 Directors’ Declaration .......................................................................................................................................................... 153 Independent Audit Report.................................................................................................................................................... 154 Shareholder Information ...................................................................................................................................................... 155 Appendix Pro Forma Profit and Loss for the Year Ended 30 June 2000........................................................................................ 158 Pro Forma Consolidated Balance Sheet of the combined Commonwealth Bank and Colonial Group as at 30 June 2000...................................................................................... 159 Pro Forma Life Insurance and Funds Management Business for the Year Ended 30 June 2000 .................................. 160 2 Group Performance Summary Half-year Ended Full Year Ended 30/06/00 30/06/00 31/12/99 30/06/99 31/12/98 30/06/00 30/06/99 vs 30/06/99 $M $M $M $M $M $M % Profit and Loss - Summary Operating profit after tax and abnormal items 1,860 840 709 713 2,700 1,422 90 Income Interest income 4,694 4,148 3,795 3,950 8,842 7,745 14 Interest expense 2,834 2,289 2,025 2,193 5,123 4,218 21 Net interest income 1,860 1,859 1,770 1,757 3,719 3,527 5 Other operating income 1,306 1,206 1,002 995 2,512 1,997 26 Total operating income 3,166 3,065 2,772 2,752 6,231 5,524 13 Expenses Staff expenses 867 838 805 799 1,705 1,604 6 Occupancy and equipment expenses 223 214 243 212 437 455 (4) Information technology services 290 281 261 244 571 505 13 Other expenses 394 300 270 236 694 506 37 Total operating expenses 1,774 1,633 1,579 1,491 3,407 3,070 11 Underlying profit (1) 1,392 1,432 1,193 1,261 2,824 2,454 15 Charge for bad and doubtful debts (100) (96) (131) (116) (196) (247) (21) Goodwill amortisation (34) (23) (24) (23) (57) (47) 21 Operating profit before abnormal items and income tax 1,258 1,313 1,038 1,122 2,571 2,160 19 Income tax expense 363 457 318 396 820 714 15 Operating profit after income tax 895 856 720 726 1,751 1,446 21 Outside equity interests (22) (16) (11) (13) (38) (24) 58 Operating profit after income tax and before abnormal items 873 840 709 713 1,713 1,422 20 Abnormal items 967 - - - 967 - - Income tax credit on abnormal items 20 - - - 20 - - Operating profit after income tax attributable to members of the Bank 1,860 840 709 713 2,700 1,422 90 Contributions to profit (after tax) Banking Australia 666 708 591 608 1,374 1,199 11 New Zealand (ASB Bank) 63 55 55 49 118 104 13 Other countries (2) 51825435968(13) 780 771 671 700 1,551 1,371 10 Life insurance and funds management 149 108 73 49 257 122 large Profit after tax from operations 929 879 744 749 1,808 1,493 21 Goodwill amortisation (34) (23) (24) (23) (57) (47) 21 Outside equity interests (3) (22) (16) (11) (13) (38) (24) 58 Operating profit after income tax and before abnormal items 873 840 709 713 1,713 1,422 20 Abnormal items after tax 987 - - - 987 - - Operating profit after income tax 1,860 840 709 713 2,700 1,422 90 (1) Represents operating profit before tax, charge for bad and doubtful debts and goodwill amortisation. (2) United Kingdom, United States of America, Japan, Singapore, Hong Kong, Grand Cayman and Fiji. (3) Represents 25% interest in ASB Group. 3 COMMONWEALTH BANK OF AUSTRALIA AND CONTROLLED ENTITIES Group Performance Summary Half-year Ended Full Year Ended 30/06/00 30/06/00 31/12/99 30/06/99 31/12/98 30/06/00 30/06/99 vs 30/06/99 $M $M $M $M $M $M % Balance Sheet – Summary Loans, advances and other receivables 132,263 107,024 101,837 95,982 132,263 101,837 30 Total Assets 217,671 161,108 138,096 134,957 217,671 138,096 58 Deposits and other public borrowings 112,594 100,311 93,428 91,097 112,594 93,428 21 Total Liabilities 199,824 153,832 131,134 127,524 199,824 131,134 52 Shareholders' Equity 17,847 7,276 6,962 7,433 17,847 6,962 large Assets held and Funds under management On Balance Sheet Banking Assets 185,108 149,911 136,787 133,953 185,108 136,787 35 Life Insurance Assets 32,563 11,197 1,309 1,004 32,563 1,309 large 217,671 161,108 138,096 134,957 217,671 138,096 58 Off Balance Sheet (1) Funds under Management 73,914 18,190 17,290
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