News: CBA CBA Announces Off-Market Share Buyback Of A$6 Bln

Aug 11 (Reuters) - Commonwealth Bank of Australia (CBA) :

• FY TROUBLESOME AND IMPAIRED ASSETS A$7,523 MILLION
• FY NET INTEREST MARGIN WAS 2.03%, DOWN BY 4 BPTS
• AT FY-END, CET1 RATIO OF 13.1%, UP 150BPTS ON FY20
• FINAL DIVIDEND OF 200 AU CENTS/SHARE
• FY CASH NPAT FROM CONTINUING OPERATIONS A$8,653M, UP 19.8%
• "PREPARED FOR A RANGE OF DIFFERENT ECONOMIC SCENARIOS AND ARE WELL PLACED TO SUPPORT OUR CUSTOMERS"
• FY LOAN IMPAIRMENT EXPENSE A$554 MILLION
• ANTICIPATE ONGOING ECONOMIC IMPACTS AND EARNINGS PRESSURE FROM LOWER INTEREST RATES
• FY TROUBLESOME AND IMPAIRED ASSETS A$7,523 MILLION VERSUS A$8,710 MILLION IN FY20
• ANOUNCES OFF-MARKET SHARE BUYBACK OF A$6 BILLION
• WILL CONTINUE TO TARGET FULL YEAR PAYOUT RATIO OF 70%-80% OF CASH NPAT AND AN INTERIM PAYOUT RATIO OF AROUND 70% OF CASH NPAT
• WILL CONTINUE TO INVEST IN BUSINESS TO REINFORCE PRODUCT OFFERING TO RETAIL AND BUSINESS CUSTOMERS AND EXTEND DIGITAL LEADERSHIP
• PANDEMIC CONTINUES TO HAVE AN IMPACT ON AUSTRALIAN ECONOMY
• FY NET INTEREST INCOME A$18,839 MILLION VERSUS A$18,610 MILLION REPORTED LAST YEAR
• ONGOING ROLL-OUT OF VACCINATION PROGRAM AND GOVERNMENT SUPPORT PACKAGES WILL BE IMPORTANT TO HELP ECONOMY TOWARDS FULL ECONOMIC ACTIVITY

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