The Commonwealth Bank (ASX:CBA) has reported an 8.1 per cent fall in its full year profit with statutory NPAT at $8.571 million.
Underlying cash profit was $8.5 billion, slightly below market expectations.
Chief Executive Officer, Matt Comyn says this year the bank has made progress on becoming a simpler, better bank.
They simplified their business through the sale of Sovereign, TymeDigital, Count Financial and Colonial First State Global Asset Management, and have announced their exit from aligned advice.
The full year dividend was flat at $4.31 a share.
Shares in Commonwealth Bank (ASX:CBA) closed 1.74 per cent lower at $79.80 yesterday.