Australia’s largest lender Commonwealth Bank on Wednesday posted a 16 per cent rise in first-half net profit to $4.21 billion (US$3.80 billion), with all of its businesses delivering a strong performance.
The bank’s result for the six months to December 31 was up from $3.66 billion in the same period the previous year.
Its cash profit, a measure often preferred by financial institutions, jumped 14 per cent to $4.27 billion.
Chief executive Ian Narev said the strong result again demonstrated the benefits of the bank’s long-term strategic priorities, which he defined as “people, technology, strength and productivity”.
“All of our businesses have performed well,” he said.
“We have strengthened our focus on enhancing the financial wellbeing of our customers and have used our leading technology platform to deliver innovative products and services to business and personal customers.
Read More: http://www.news.com.au/finance/business/commonwealth-bank-increases-profit-16-to-421-billion-in-six-months-to-december-2013/story-fnkjidjt-1226824484516
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