(Adds details on results, background)
Aug 10 (Reuters) - Commonwealth Bank of Australia (CBA) posted its highest annual cash earnings in four years on Wednesday, as it rode a first-half surge in home lending amid record low interest rates and booked a loan impairment benefit as COVID-19 risks eased.
The results wrapped up a solid fiscal year in which CBA beat out rivals to home buyers when rates were ultra-low, before the central bank began tightening its policy which halted the surge in the real estate market seen last year.
The over 100-year old bank said cash net profit after tax was A$9.60 billion in the twelve months to June 30, compared with A$8.65 billion a year earlier.
Its net interest margin, a key measure of profitability, however, fell 18 basis points to 1.90% amid stiff competition in home lending and an increase in low-yielding liquid assets.
It declared a final dividend of A$2.10 per share, compared with A$2.00 last year.
(Adds details on results, background) Aug 10 (Reuters) -...
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Last
$182.46 |
Change
1.660(0.92%) |
Mkt cap ! $305.3B | |||
| Open | High | Low | Value | Volume |
| $180.48 | $183.47 | $180.00 | $630.3M | 3.632M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 51 | $182.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $182.88 | 7 | 1 |
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| CBA (ASX) Chart |