News: CBA CBA Posts Qtrly Unaudited Statutory NPAT Of A$2.5 Billion

Nov 14 (Reuters) - Commonwealth Bank of Australia (CBA) :

• QTRLY UNAUDITED STATUTORY NPAT A$ 2.5 BILLION VERSUS A$2.7 BILLION REPORTED LAST YEAR
• AUSTRALIAN ECONOMY REMAINS RESILIENT, SUPPORTED BY LOW UNEMPLOYMENT AND STRONG POPULATION GROWTH
• QTRLY UNAUDITED CASH NPAT A$2.5 BILLION VERSUS A$2.5 BILLION REPORTED LAST YEAR
• WE HAVE DELIVERED SOLID FINANCIAL OUTCOMES IN QUARTER
• AS AT SEPT-END, CET1 (LEVEL 2) RATIO OF 11.8%
• HIGHER INTEREST RATES ARE RESULTING IN SLOWING GROWTH AND CONSUMER SPENDING, WITH PRESSURE ON SOME HOUSEHOLDS AND BUSINESSES IN AUSTRALIA
• WE ARE VERY CONSCIOUS THAT MANY AUSTRALIANS ARE FEELING UNDER PRESSURE IN CURRENT ENVIRONMENT
• REMAIN OPTIMISTIC ON MEDIUM-TERM OUTLOOK FOR AUSTRALIA
• QTRLY LOAN IMPAIRMENT EXPENSE WAS A$198 MILLION
• WE HAVE SEEN A MODEST INCREASE IN CONSUMER ARREARS OVER RECENT MONTHS
• BALANCE SHEET STRENGTH COMBINED WITH OUR STRONG ORGANIC CAPITAL GENERATION ALLOWS US TO SUPPORT OUR CUSTOMERS THROUGH CHALLENGING TIMES
• HAS COMPLETED THE PURCHASE OF MORE THAN A$700 MILLION OF SHARES ON-MARKET TO NEUTRALISE THE IMPACT OF THE 2H23 DIVIDEND REINVESTMENT PLAN
• KEY CREDIT QUALITY INDICATORS REMAINED SOUND IN QUARTER WITH CONSUMER ARREARS REMAINING AT HISTORICALLY LOW LEVELS
• STRONG BANKS BENEFIT ALL AUSTRALIANS, AND WE REMAIN WELL POSITIONED TO CONTINUE TO SUPPORT OUR CUSTOMERS
• WE REMAIN WELL POSITIONED TO INVEST IN OUR COMMUNITIES AND PROVIDE STRENGTH AND STABILITY FOR BROADER AUSTRALIAN ECONOMY
• HAVE MADE GOOD PROGRESS ON OUR FY24 FUNDING REQUIREMENTS WITH A$17 BILLION RAISED TO DATE, REPRESENTING ABOUT 50% OF FY24 FUNDING TASK