Commonwealth Bank of Australia credits retail biz for 1H profit

The Commonwealth Bank of Australia posted a half-year profit of US$3.78 billion.

This is a one percent on the same period a year ago.

CBA said the result was mainly driven by a stronger performance from its retail bank business, with loans up A$26 billion to A$649 billion.

CBA Chief Executive Officer Ian Narev said the bank had delivered a cash return on equity (ROE) of 18.1 percent for the six months to December despite the subdued market conditions.

Narev said there had been improvement in the global macroeconomic environment since the bank released its full year results in August 2012.

"As a result, we have experienced a period of relative stability, which has had a positive impact on global equity and debt markets," he said.

However, he warned that risk remains in the economy and the bank must remain cautious.

For more.

Also Read

OCBC Ignite aims to double poly graduate intake

Singapore’s big banks aim for 96% emissions cut by 2050

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia