CommBank

Commonwealth Bank of Australia (CBA)

Stock Code

CBA

Stock Exchange

ax

Commonwealth Bank of Australia (CBA) or Commbank is Australia's leading banking group engaged in providing integrated financial services that include business and institutional banking, retail banking, life insurance, superannuation, funds management, general insurance, broking services and other finance company activities clients from institutional, small business owners to individuals. Though CBA is based in Australia, it also has operations in the US, the UK, Singapore, Japan, Grand Cayman, Hong Kong, Fiji, Malta, China, Vietnam and Indonesia.

CommBank $3.78m Profit in 6 Months


Australian banking giant, CommBank (ASX:CBA) has released its first half profit results to December 31.

  • CBA $3.78 billion half year net profit.
  • CommBank shares jumped $1.85 on the announcement, or 2.7 percent, a new record high of $67.37 per share, Commonwealth Bank market capitalisation at $108 billion.

ASIC Fines CommBank's CommSec


CommBank (ASX:CBA) owned broker, CommSec was fined $50,000 as reported by the ASIC.

  • The Markets Disciplinary Panel (MDP) fined CommSec with a $50,00 penalty for a series of misleading trades executed in late 2010 to early 2011.

CommBank Record $7.09 Billion Profit


Australian banking giant, Commonwealth Bank of Australia (ASX:CBA) have released their full year results.

  • Commbank net profit $7.09 billion (+11 percent)
  • Full year dividend payout: $3.34 per share. $5.3 billion paid to shareholders, or 75 percent of this year's CommBank income.
  • CBA holds 25 percent of the Australian home lending market with $351 billion loans on June 30.

CommBank Record First Half Profit: $3 Billion


Australian Bank, CommBank (ASX:CBA) have seen their first half net profit rise by 5 percent from the previous corresponding period. Commonwealth Bank of Australia's statutory net profit for the six months ended December 31 rose to $3.05 billion, from $2.91bn the previous year. In an announcement to the market, the bank said there was "cautious optimism" about the outlook for the bank for the balance of the 2011 financial year.

Commonwealth Bank Chief: Funding costs to Stay High


Commonwealth Bank CEO Ralph Norris, speaking at yesterday's American Chamber of Commerce in Australia luncheon in Sydney, has said that funding costs were to remain high. "All of the banks have a significant portfolio of debt that has been borrowed at lower rates, prior to the start of the crisis, which has continued to roll over at higher rates.

Commonwealth Bank Acquires 20% of Vietnam Bank


Commonwealth Bank (CBA) has bought 15 percent of Vietnam International Bank (VIB) with the aim of acquiring up to 20 percent more depending upon regulatory approval. Australian Banks are seeking growth opportunities in Asia with NAB seeking a stake in Korea Exchange Bank.

Commonwealth Bank Reports 1H09 Results


Commonwealth Bank of Australia (CBA) released its 1H09 reports yesterday. The bank posted a 16 per cent drop in first-half profit as bad corporate debts linked to the global financial crisis hit the bottom line. Bad debts soared nearly five-fold to more $1.5-billion. As flagged in Commonwealth's surprise profit upgrade earlier this month, the bank's operating performance was sound, highlighted by a 20 per cent increase in banking income due to fee rises and volume and market share gains.

CBA Announces $2 Billion Profit


Commonwealth Bank of Australia (CBA) has announced that it will earn $2 billion profit in the first half of 2009. The company said that it would outperform market expectations by as much as 20 per cent with interim cash profit as large as $2 billion. The ASX requires listed companies to make public any information which substantially differs from consensus earnings estimates. CBA's announcement comes ahead of its interim results which are scheduled for February 11th.

Disclosures Defended by CBA


Commonwealth Bank (CBA), the largest bank in Australia, defends its highly ranked executives in breach of disclosure rules during the issue of $2 billion capital raising. CBA disagreed by saying that, rules were not broken when it warned a small group of shareholders regarding the bad debt raise before a public announcement. The bank said that the information was not materially significant so there was no need to warn the public earlier.

Syndicate content

Recommended Websites