Commonwealth Bank Of Australia FY Profit Down

Commonwealth Bank of Australia (CBA.AX) reported that net profit after tax from continuing operations for the full year ended 30 June 2018 was A$9.375 billion, down 4.0% from last year. Cash net profit after tax from continuing operations was A$9.233 billion, down 4.8% from the prior year. Earnings per share (cash) were A$5.29 per share, down 6.2%.

Operating income was A$25.91 billion, up 2.6% from the previous year.

Operating income excluding one-off items increased (+3.4%) due mainly to higher net interest income (+4.5%). This reflected continuing volume and margin management. Lending volumes were 2% higher and the net interest margin increased 5 basis points on the prior year to 2.15%.

Operating expenses was A$11.60 billion, up 9.2%, largely due to the AUSTRAC civil penalty of A$700 million.

The Board has determined a final dividend of A$2.31 per share, up 1 cent on the second-half of 2017. This brings the full year dividend to A$4.31, fully franked, up 2 cents on fiscal year 2017. The ex-dividend date is 15 August, the Record Date is 16 August, and the final dividend will be paid on 28 September.

by RTTNews Staff Writer

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