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CBA - 2018 Half Year Results

CommBank will pay an interim dividend of $2.00 a share for the six months to 31 December 2017

Key numbers

Some banks in Australia, including CommBank, provide cash earnings in addition to statutory figures to better reflect their underlying operating results. The bank’s statutory NPAT grew 1.2% to $4.895bn, CommBank said in a statement to the Australian Securities Exchange (ASX).

CommBank said its total operating income for the half year increased by 2.3% to $13.122bn and this was “primarily driven by a 6.2% increase in net interest income”.

The group’s net interest margin improved 6 basis points to 2.16%. CommBank identified the key drivers of this increase as changes in asset pricing, higher levels of transaction deposits and improved basis risk.

On a cash earnings basis, return on equity stood at 15% (down from 16% a year earlier), while cash earnings per share were down 3.2% to $2.72.

Total customer deposits were up 5% from this time last year to $568.3bn, contributing 68% to the group’s total funding.

CommBank’s Common Equity Tier 1 (CET1) capital was 10.4% at the end of 2017, up 50 basis points from December 2016. This includes the impact of the provision for the estimated AUSTRAC penalty.

The bank’s CET1 capital position in international standards was 16.3%, up from 14.3% previously, and “maintaining CBA’s position in the top quartile of international peer banks for CET1”, according to CommBank’s statement.



INVESTOR REALATIONS: https://www.commbank.com.au/about-us/investors/shareholders.html

WEBCAST: https://edge.media-server.com/m6/p/c5veqhv3


COMMENT

ABC: Scandals drag Commonwealth Bank's first-half net profit to $4.9 billion
http://www.abc.net.au/news/2018-02-07/commonwealth-banks-unveils-disappointing-first-half-profit/9402806

NEWS.COM.AU: CBA provisions drag profit down to $4.74 billion
http://www.news.com.au/finance/business/banking/cba-provisions-drag-profit-down-to-474-billion/news-story/d5d7a399742db59b915b704fa461e5f2

ZDNET: Commonwealth Bank pumped AU$752m into tech during H1 2018. Putting AU$375 million of its profit aside to pay its expected Austrac bill, Australia's largest bank has reported AU$4.9 billion in after-tax profit for the first half of 2018.
http://www.zdnet.com/article/commonwealth-bank-pumped-au752m-into-tech-during-h1-2018/