Of Special Interest
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- Newslink Trends-The Global Strategic Perspective
- Juniper Research says digital wallet users to exceed 4.4 billion by 2025, as mobile drives digital payments’ revolution
- Criminals exploit COVID-19 pandemic with rise in scams targeting victims online
- Equifax says Open Banking proving pivotal to pandemic lending
- Consumer confidence in banks, credit card providers and investments remain stable as demand supercharges digital finance says Toluna research
- Mintos says Europeans are starting to embrace investing
- US banks see IT modernisation as a way to improve customer experience
- Risk mitigation in global trade depends on digitisation-Andrew Raymond, CEO, Bolero International comments
- Juniper Research new study says the volume of B2B payments facilitated by non-banks will exceed 53 billion in 2022, from a COVID-related low of 38 billion in 2020
- CMA issues fifth publication over 3 years of the service quality league table of personal and business current account providers
- Barclays says scammers take advantage of COVID-19, cashing in on nations’ uncertainty
- S&P Global report says financial market infrastructure sector's earnings likely to cool off In second half
- Global banking market capitalisation slumps by over 30% amid pandemic says Buyshares research
- Digital wallet spend in Europe & North America to increase by 40% in 2019, finds study
- Juniper forecasts mobile money transactions will exceed 200 billion by 2024
- Banks can save the world from climate change, says former UN climate chief
- Research by NatWest reveals gender divide over attitudes to saving
- Europe’s big bank problem: too much capital is trapped in the US, says Scope
- Later-Life lending market set to almost double in the next 10 years, finds report
- Barclays/Cebr report challenges nation to think differently about wealth
- Fifth of UK investors looking to debt investment, new research reveals
- Regtech will play a more important role in PSD2, says Mitek
- Banks turn to Fintech partnerships to improve customer experience, finds Fraedom
- New industry code to tackle fraud must deliver, says Which?
- New TTF report highlights loss of trust in financial services
- Arxan highlights financial app vulnerability epidemic
- SAS asks whether banks really need to choose between operations and innovation
- Which? raises alarm as almost 1,700 free ATMs become fee-charging
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
17th February 2012
Commonwealth Bank first half profit up 19%
Commonwealth Bank of Australia reported net attributable for the six months to the end December of A$3,624m (€2,972m £2,481m $3,891m ¥305.2bn Y24,490m), UP 19% on the year ago figure.
The main generators of the increased profit were higher net interest income combined with lower loan losses whilst restricting the expense increase. The result was further helped by proportionately lower tax. The result was better than consensus forecast and arch-rival National Australia.
Income summary six months ending Dec2011 June2011 Dec2010
A$M A$M A$M
Interest income 19,235 18,834 18,470
Interest expense (12,698) (12,356) (12,341)
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Net interest income 6,537 6,478 6,129
Other banking income 2,172 1,850 1,780
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Net banking operating income 8,709 8,328 7,909
Funds management income 981 1,030 966
Investment (expense)/revenue (135) 224 630
Claims and policyholder liability revenue 111 (223) (585)
Net funds management operating income 957 1,031 1,011
Premiums from insurance contracts 1,006 942 942
Investment revenue 218 240 307
Insurance-Claims and policyholder liability (602) (650) (663)
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Net insurance operating income 622 532 586
Total net operating income 10,288 9,891 9,506
Loan impairment expense (545) (558) (722)
Operating expenses (4,682) (4,598) (4,462)
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Net profit before income tax 5,061 4,735 4,322
Corporate tax expense (1,388) (1,320) (1,161)
Policyholder tax expense (40) (66) (100)
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Net profit 3,633 3,349 3,061
Non-controlling interests (9) (7) (9)
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Net attributable to Equity holders of the Bank 3,624 3,342 3,052