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
Recommended for you
Bell Financial Group has appointed a chief investment officer who joins the firm from Clime Investment Management.
Private markets funds with “unattractive practices” could find themselves facing enforcement activity with ASIC chair Joe Longo stating he cannot rule it out in the future.
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
