Commonwealth Bank posts record $10.25 billion profit

Commonwealth Bank has posted a grounds profit of $10.25 cardinal for nan 2024-25 financial year.

The bumper full-year consequence came arsenic nan country's largest lender added different $40 cardinal successful loans to homeowners and businesses successful nan past year, up to a full of $761 billion.

The proportionality of customers down connected their mortgages fell successful nan past 4th arsenic households felt little of a pinch from nan cost-of-living crisis.

"This past twelvemonth has brought immoderate alleviation done easing inflation, little liking rates and taxation cuts," Commonwealth Bank main executive Matt Comyn said.

"Many households are now experiencing a emergence successful disposable income, and nan financial spread betwixt younger and older Australians has narrowed.

"Savings person increased, pinch younger Australians now rebuilding their financial buffers, and discretionary spending has besides picked up, reflecting increasing user confidence.

"And while we recognise galore are still uncovering nan discourse challenging, location is immoderate affirmative momentum."

At nan aforesaid time, CBA's liking separator – nan quality betwixt nan income it raised from liking connected loans, and what it paid successful liking to savings customers – accrued by 9 ground points to 2.08 per cent.

The slope besides announced a last dividend of $2.60 per share, taking it up to $4.85 for nan wide financial twelvemonth successful a move it said delivered $8 cardinal to nan much than 8 cardinal Australian shareholders.

While nan wide results were mostly successful statement pinch expert expectations, CBA's stock value fell pursuing nan announcement, down much than 8.5 per cent successful nan first hr of trading.

In summation to its yearly results, Commonwealth Bank besides announced a caller business pinch ChatGPT genitor institution OpenAI successful a move to amended scam and fraud protection.

CBA besides said nan woody pinch nan artificial intelligence behemoth would present its customers "more personalised services".

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