CBA profits move up 9%
The Commonwealth Bank (CBA) has reported strong growth in profits for the 2022 financial year, delivering a net profit after tax of $9,673 million, up 9%.
In an announcement to the Australian Securities Exchange, CBA said it had achieved its strong growth by focusing on serving its customers and maintaining disciplined operational and strategic execution.
CBA chief executive, Matt Comyn, said: “We have focused on strengthening our customer engagements and relationships, and this has resulted in further growth in our core deposit and lending volumes to retail, business and institutional customers.
“A highlight of the result is our continued balance sheet strength and capital position that has allowed us to support our customers while delivering consistent and sustainable returns to shareholders.
“As a result, a final dividend of $2.10 per share, fully franked, has been determined, with shareholders receiving full year franked dividends of $3.85.”
AUTHOR
Liam Cormican
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