Commonwealth Bank of Australia
(ASX:CBA) has sweetened its interim payout and shown its net profit climbed in the first half of the 2015 financial year.
Australia’s biggest bank boosted its statutory net profit by 8 per cent to $4.53 billion while its cash net profit grew 8 per cent to $4.62 billion, putting in on track for another record annual result.
CEO Ian Narev says CBA’s revenue momentum has continued and its focus on productivity has delivered a further $300 million of cost savings over the last year.
Looking ahead Mr Narev has warned weak confidence is a significant economic threat but the strength of CBA’s business enables the bank to invest for the long term.
The bank has boosted its interim dividend by 8 per cent to $1.98 per share, fully franked.
