Commonwealth Bank of Australia
(ASX:CBA) has announced it has sold its remaining shares in Visa for $439 million.
The bank has indicated it has realised an after tax profit of $278 million as a result.
Also included in CBA’s announcement is news it has undertaken a review of its capitalized software assets, in light of the rapidly changing technology environment.
The review has resulted in a one off acceleration of amortization on certain capitalized software assets, totaling $275 million after tax.
CBA reported a net profit of $9.25 billion at 30 June 2016.
