May 12 (Reuters) - Commonwealth Bank of Australia (CBA) : MARCH...

May 12 (Reuters) - Commonwealth Bank of Australia (CBA) :

• MARCH QUARTER 2022 TRADING UPDATE
• AS AT MARCH-END, CET1 RATIO OF 11.1%
• QTRLY UNAUDITED CASH NPAT OF ABOUT A$2.4BN
• AS AT MARCH-END, TROUBLESOME AND IMPAIRED ASSETS WERE LOWER AT A$6.6 BILLION
• FOR QUARTER, OPERATING EXPENSES EX. REMEDIATION REDUCED BY 1% ON H122 QUARTER AVERAGE
• QTRLY NET INTEREST INCOME WAS 2% LOWER VERSUS 1H22 QUARTER AVERAGE
• IMPROVEMENTS IN ECONOMIC CONDITIONS AND SOUND PORTFOLIO CREDIT QUALITY RESULTED IN POSITIVE OUTCOME FOR LOAN IMPAIRMENT EXPENSE IN QUARTER
• DURING QUARTER, BANK COMMENCED PHASED REDUCTION IN USAGE OF COMMITTED LIQUIDITY FACILITY TO ZERO BY END OF 2022, IN LINE WITH APRA’S REQUIREMENT
• HOME LOAN ARREARS REMAINED LOW IN THE QUARTER
• CONTINUED GROWTH IN HOUSEHOLD DEPOSITS, HOME LOANS, BUSINESS LENDING AND BUSINESS DEPOSITS WAS A FEATURE OF QUARTER
• CREDIT CARD & PERSONAL LOAN ARREARS BEGAN TO NORMALISE IN QUARTER IN LINE WITH SEASONAL TRENDS
• LOOKING AHEAD, WE ARE WELL POSITIONED TO SUPPORT BUSINESS INVESTMENT TO BUILD AUSTRALIA’S FUTURE ECONOMY
• GROUP MAINTAINED STRONG BALANCE SHEET SETTINGS FOR QUARTER
• QTRLY LOAN IMPAIRMENT CHARGE BENEFIT OF A$48M
• CONTINUE TO MAINTAIN CAUTIOUS APPROACH TO MANAGING POTENTIAL RISKS, FROM HIGHER INTEREST RATES, INFLATIONARY PRESSURES & SUPPLY CHAIN DISRUPTIONS
• POST THE BUY-BACK, BANK WILL REMAIN WELL PLACED TO ACCOMMODATE CHANGES UNDER APRA’S NEW CAPITAL FRAMEWORK
• IN HOME LENDING, BANK RECORDED BALANCE GROWTH OF A$6.9BLN FOR QUARTER