The Commonwealth Bank posts a record profit of $10.2 billion, up 5 per cent on last financial year.
abc.net.au/news/commonwealth-bank-annual-profits-financial-year-2023/102705782The Commonwealth Bank has posted a record profit of $10.2 billion, up 5 per cent on last financial year.CBA reported a significant increase in its net interest margins as the key source of growing profitsCBA analysis shows 3.
"Margins increased year-on-year due to the rising interest rate environment, partly offset by the impact of increased competition, particularly in home lending," the bank said in its results release. "We are seeing consumer demand moderate and economic growth slow and we are closely monitoring the impact of reduced discretionary spend, particularly on our small and medium-sized business customers."
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Commonwealth Bank posts record $10.2 billion profitThe Commonwealth Bank has posted a record full-year profit of $10.2 billion, flagging that it recognises it has been a "challenging period" for customers.
Read more »
‘Good outcome’: Commonwealth Bank posts 2.07 per cent net interest marginCommSec’s Tom Piotrowski says Commonwealth Bank posted a record full year cash profit of $10.16 billion which was up by six per cent and a net interest margin of 2.07 per cent. “The important metrics that the markets are quite focused on at the moment … are things like the net interest margins,” Mr Piotrowski told Sky News Australia. “The net interest margin came in at 2.07 per cent for the full year, so that was a good outcome.” Presented by CommSec.
Read more »
Commonwealth Bank announces major $10,000 change.CommBank has announced a major change to certain payments, in an effort to reduce scams. 7NEWS
Read more »
Zoom has ordered its staff back to the office. Is the era of remote work coming to an end?Zoom, a company which has become synonymous with working from home for many people, has asked its employees to work from the office twice a week. Is the era of remote work coming to an end? Read more:
Read more »
CBA posts $10.2b profit, margins slidingCommonwealth Bank has lifted its cash profits to $10.16 billion – in line with expectations – for the full year and reported a net interest margin of 2.05 per cent for the second half, down 5 basis points on the half year.
Read more »