Commonwealth Bank of Australia
(ASX:CBA) has delivered a record net profit of $7.67 billion and lifted its dividend.
Net profit beat analyst expectations, rising 8 per cent in the year to June, and the lender will raise its final dividend to $2 a share.
Cash profit, which is the bank’s preferred measure of performance, grew 10 per cent on year to $7.8 billion.
CEO Ian Narev says the lender has momentum in all of its businesses and has achieved a six-year goal of becoming the leader in customer satisfaction.
He says the outlook for 2014 is similar to fiscal 2013, but the bank is well-positioned to meet the needs of customers if the economy rebounds faster than expected.
