News: CBA CBA Posts FY Cash NPAT A$9,595 Mln

Aug 10 (Reuters) - Commonwealth Bank of Australia (CBA) :

• DECLARES FINAL DIVIDEND OF 210 AU CENTS/SHARE
• FY STAT NPAT A$9,673 MILLION VERSUS A$8,843 MILLION REPORTED LAST YEAR
• FY CASH NPAT A$9,595 MILLION VERSUS A$8,653 MILLION REPORTED LAST YEAR
• FY NET INTEREST MARGIN 1.90% VERSUS 2.03% AS REPORTED LAST YEAR
• AS AT FY-END, CET1 CAPITAL RATIO 11.5%
• FY TROUBLESOME AND IMPAIRED ASSETS A$6.4 BILLION
• OUR NIM MEDIUM TERM OUTLOOK REMAINS UNCHANGED, WITH MARGINS EXPECTED TO INCREASE IN A RISING RATE ENVIRONMENT.
• FY NET INTEREST INCOME FROM CONTINUING OPERATIONS A$19,473 MILLION VERSUS A$19,302 MILLION
• INFLATION IS HIGH, AND WE SEEN RAPID INCREASE IN THE CASH RATE WHICH IS NEGATIVELY IMPACTING CONSUMER CONFIDENCE
• FY PRE-PROVISION PROFIT A$13,190 MILLION
• EXPECT CONSUMER DEMAND TO MODERATE AS COST OF LIVING PRESSURES INCREASE
• REMAIN OF THE VIEW THAT THE MEDIUM TERM OUTLOOK FOR AUSTRALIA IS A POSITIVE ONE
• AROUND THE WORLD, GEOPOLITICAL TENSIONS HAVE CREATED ADDITIONAL UNCERTAINTY IN FINANCIAL MARKETS
• WILL CONTINUE TO TARGET FULL YEAR DIVIDEND PAYOUT RATIO OF 70-80% OF CASH NPAT
• WILL CONTINUE TO TARGET INTERIM DIVIDEND PAYOUT RATIO OF ABOUT 70% OF CASH NPAT
• FY OPERATING EXPENSES EXCLUDING ONE-OFFS DECREASED 1.5%
• DIVESTMENT OF OUR GENERAL INSURANCE BUSINESS IS EXPECTED TO PROVIDE FURTHER CAPITAL BENEFITS IN FY23 UPON COMPLETION
• NET STABLE FUNDING RATIO (NSFR) AS AT 30 JUNE 2022 WAS 130%
• DIVIDEND REINVESTMENT PLAN ANTICIPATED TO BE SATISFIED IN FULL BY ON-MARKET PURCHASE OF SHARES
• WELL PLACED TO ACCOMMODATE REVISIONS TO ADI CAPITAL FRAMEWORK CHANGES BY APRA FROM 1 JANUARY 2023
• CONTINUES TO MANAGE PHASED REDUCTION IN USAGE OF THE COMMITTED LIQUIDITY FACILITY (CLF) TO ZERO BY THE END OF CY22
• EXPECTS TO OPERATE WITH A POST-DIVIDEND CET1 RATIO OF >11% AFTER REVISIONS TO ADI CAPITAL FRAMEWORK CHANGES BY APRA