News: CBA Commonwealth Bank Of Australia Posts Qtrly Unaudited Cash NPAT A$2.5 Bln

Nov 15 (Reuters) - Commonwealth Bank of Australia (CBA) :

• COMMONWEALTH BANK OF AUSTRALIA-SEPTEMBER QUARTER 2022 TRADING UPDATE
• QTRLY UNAUDITED CASH NPAT A$2.5 BILLION VERSUS A$2.2 BILLION REPORTED LAST YEAR
• QTRLY UNAUDITED STATUTORY NPAT A$ 2.7 BILLION VERSUS A$2.3 BILLION REPORTED LAST YEAR
• RECOGNISE CONCERN AND PRESSURE MANY CUSTOMERS ARE FEELING DUE TO HIGHER COST OF LIVING, AND INCREASES IN CASH RATE
• AS AT SEPT 30, CET1 RATIO OF 11.1%
• ECONOMY HAS SHOWN RESILIENCE IN FACE OF GROWING COST OF LIVING AND INTEREST RATE PRESSURES
• DESPITE THESE NEAR-TERM CHALLENGES WE REMAIN OPTIMISTIC ON MEDIUM TO LONG TERM OUTLOOK
• DURING QUARTER, TROUBLESOME AND IMPAIRED ASSETS WERE LOWER AT A$6.1BN OR 0.45% OF TOTAL COMMITTED EXPOSURES
• AS AT 14 NOVEMBER 2022, HAD COMPLETED APPROXIMATELY A$1.5 BILLION OF THE A$2 BILLION BUY-BACK
• QTRLY HOME LOAN ARREARS REMAINED LOW
• KEY CREDIT QUALITY INDICATORS IMPROVED IN QUARTER
• LOAN IMPAIRMENT EXPENSE WAS A$222M IN QUARTER
• REMAINDER OF A$2 BILLION BUY-BACK EXPECTED TO BE COMPLETED BY THE END OF THE 2022 CALENDAR YEAR
• TOTAL CREDIT PROVISIONS WERE A$5.4BN DURING QUARTER
• WELL PLACED TO ACCOMMODATE CHANGES UNDER APRA’S NEW CAPITAL FRAMEWORK EFFECTIVE 1 JANUARY 2023
• GROUP EXPECTS TO OPERATE WITH A POST-DIVIDEND CET1 RATIO OF >11% (COMPARED TO REVISED APRA MINIMUM OF 10.25%)
• NET INTEREST INCOME GROWTH OF 16% FOR QUARTER