The market is not going to be able to absorb these sorts of increases. We've got to look at ways and means of reducing costs.

The earnings momentum from the prior fiscal year has been maintained despite some slowing in economic activity, particularly consumer credit growth.

The undertakings provided to the ACCC are also designed to give a new entrant, most likely Virgin Blue, unimpeded access to the trans-Tasman and domestic New Zealand market,

I appreciate the support that Mike has given me over the past six months as we have been developing our strategic direction.

In the area of customer service, our scores do remain disappointing.

As an integrated financial services organization, it is important that the bank's leaders understand multiple areas of the business by undertaking different management roles.

We will be very mindful of what our obligations are to our customers.

We haven't been as effective as we could have been in handling our IT operations.

You just can't continue to keep pushing prices up and certainly we've gone probably about as far as we can go with fuel surcharges,

We've got to look at ways and means of being more competitive. We operate in a market.