News: CBA CBA Posts Qtrly Cash Profit From Cont Ops Of About $1.3 Bln

May 13 (Reuters) - Commonwealth Bank of Australia (CBA) :

• QTRLY LOAN IMPAIRMENT EXPENSE $ $1.6BN
• QTRLY UNAUDITED STATUTORY NET PROFIT ABOUT $1.3 BILLION VERSUS $1.75 BILLION REPORTED LAST YEAR
• ADDITIONAL LOAN LOSS PROVISIONS OF $1.5BN FOR POTENTIAL IMPACT OF COVID-19 ON OUR CUSTOMERS
• QTRLY CASH PROFIT FROM CONTINUING OPERATIONS ABOUT $1.3 BILLION VERSUS $1.70 BILLION REPORTED LAST YEAR
• AS AT MARCH 31, COMMON EQUITY TIER 1 RATIO 10.7%
• QTRLY NET INTEREST MARGIN WAS LOWER THAN 1H20
• TROUBLESOME AND IMPAIRED ASSETS WERE HIGHER AT $8.1 BILLION AT MARCH END
• WELL PLACED TO MANAGE CHALLENGING MARKET CONDITIONS, WITH STRONG BALANCE SHEET SETTINGS & FAVOURABLE BUSINESS MIX
• SINCE ONSET OF COVID-19 PANDEMIC, PACKAGE OF SUPPORT MEASURES INCLUDED REPAYMENT DEFERRALS ON ABOUT 240,000 LOANS
• INCREASED COVID-19 RELATED STAFFING LEVELS, AMONG OTHERS WILL IMPACT COSTS IN Q4 AND POTENTIALLY INTO FY21
• INCREASED PROVISIONS FOR FUTURE LOAN LOSSES BY $1.5 BLN, BRINGING TOTAL PROVISIONS FOR FUTURE LOSSES TO $6.4 BLN