Commonwealth Bank reports $5.02 billion profit

Commonwealth bank makes $5 billion half-year profit

The Commonwealth bank has made a $5 billion half-year profit, and says interest rates may come down before next year.

Commonwealth Bank’s half-year profit down three per cent to $5 billion

Commonwealth Bank shares dropped 1.66 per cent after the bank released its half-year profit figures. CBA's half-year cash profit was down three per cent to $5 billion. Rising costs and strong competition for both home loans and deposits squeezed its net interest margin to 1.99 per cent. The bank interim dividend is up five cents to $2.15 a share, around 72 per cent of profit. Sky News Business Editor Ross Greenwood sat down with Commonwealth Ban…

Commonwealth Bank’s half-year profit down three per cent to $5 billion

Commonwealth Bank shares dropped 1.66 per cent after the bank released its half-year profit figures. CBA's half-year cash profit was down three per cent to $5 billion. Rising costs and strong competition for both home loans and deposits squeezed its net interest margin to 1.99 per cent. The bank interim dividend is up five cents to $2.15 a share, around 72 per cent of profit. Sky News Business Editor Ross Greenwood sat down with Commonwealth Ban…

Commonwealth Bank’s Net Profit Drops to $5 Billion in First Half of 2023-24

Australia’s largest commercial bank has reported a drop in profit in the first half of the 2023-2024 financial year, citing the impact of inflation and challenging economic conditions. According to its latest performance report (pdf), the Commonwealth Bank of Australia (CBA) posted a cash NPAT (net profit after tax) of $5.02 billion (US$3.24 billion) between July 1 and Dec. 31, 2023. While the company’s revenue almost remained the same at $13.6 …

Commonwealth Bank reports $5.02 billion profit amid branch closures

Australia's biggest bank has revealed its earnings for the first half of this financial year.

Commonwealth Bank posts $5bn half-yearly cash profit after ‘deliberate’ shrinking of home loan book

Latest financial results show CBA now targeting savers over mortgage holders, amid concerns over weakening competition among major lendersFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastAustralia’s biggest lender, Commonwealth Bank, is losing market share in its home loan book through a deliberate strategy of not competing for less lucrative mortgage customers.The ban…