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News: CBA H1 profit climbs, sweetens dividend

  1. 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.  

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