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Commonwealth Bank Financials Bank Big Four
$100.27 0.20 (0.20%).
| High $100.30 | Low $99.56 | Trades 12,734 | Turnover $260,023,462 | Volume 2,603,014 |
| 30 June 2023 at 5:01pm | ||||
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CBA COMMONWEALTH BANK OF AUSTRALIA. Banks
Commonwealth Bank of Australia provides financial services in Australia, New Zealand, and internationally. It operates through Retail Banking Services, Business Banking, Institutional Banking and Markets, and New Zealand segments. The company offers transaction, savings, and foreign currency accounts; term deposits; personal and business loans; overdrafts; equipment finance; credit cards; international payment and trade; and private banking services, as well as home and car loans. It also provides institutional banking services; funds management, superannuation, and share broking products and services; home, car, health, life, income protection, and travel insurance products, as well as retail, premium, business, offshore services. In addition, the company offers advisory services for high-net-worth individuals; equities trading and margin lending services; debt capital, transaction banking, working capital, and risk management services; and international and foreign exchange services. Commonwealth Bank of Australia was founded in 1911 and is based in Sydney, Australia.
Expand Company Description
| Market Cap (28-Aug) $228,923,113,472 | Close (30-Jun) $100.27 0.2 (0.20%) | Volume (30-Jun) 2,603,014 | Shortsold (15-Aug) 25,647,239 (1.53%) |
| 52w High $139.29 | 52w Low $92.69 | P/E 21.98 | EPS 5.62 |
2022 Full Year Results Presentation
416,823 posts
August 10, 2022 07:39
CBA released this announcement to the ASX on 10 August 2022, 7:39. The announcement is marked as price sensitive, and is 136 page(s) in length and 7.82MB in size.
You can view all announcements from CBA and see how they appear on a price chart on the announcements page .
At the date of this announcement, CBA was 0.995% short sold according to ASIC data. It was ranked the 211th most shorted stock on the ASX. It is now ranked as the 149th most shorted stock on the ASX with 1.532% of total shares short sold as of the latest reported data (15 August 2024).
| Other Recent Announcements from CBA | |
|---|---|
| 30 June 2023, 15:55 | |
| 29 June 2023, 14:55 | |
| 28 June 2023, 9:28 | |
| 2022 Full Year Results Presentation | 10 August 2022, 7:39 |
| 10 August 2022, 7:35 | |
| 10 August 2022, 7:32 | |
| 10 August 2022, 7:30 |
CBA was $101.28 at the close of trade on 09 August 2022, it is now $1.01 (1%) lower
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Announcements
End of day prices.
| Date | Close | Volume | Change |
|---|---|---|---|
| $137.43 | 2,163,558 | -1.38 (0.99%) | |
| $138.81 | 1,888,745 | +2.01 (1.47%) | |
| $136.80 | 1,738,992 | +0.34 (0.25%) | |
| $136.46 | 1,565,951 | +0.43 (0.32%) | |
| $136.03 | 3,533,301 | -3.57 (2.56%) | |
| $139.60 | 1,651,316 | +0.35 (0.25%) | |
| $139.25 | 1,937,287 | +1.12 (0.81%) | |
| $138.13 | 4,427,410 | +3.23 (2.39%) | |
| $134.90 | 2,248,327 | +0.69 (0.51%) | |
| $134.21 | 1,734,568 | +3.68 (2.82%) | |
| $130.53 | 1,457,648 | 0.00 (0.00%) | |
| $130.53 | 886,756 | +0.98 (0.76%) | |
| $129.55 | 1,941,651 | +0.44 (0.34%) | |
| $129.11 | 1,663,083 | +1.42 (1.11%) | |
| $127.69 | 1,815,687 | 0.00 (0.00%) | |
| 11 up, 2 down, and 2 flat days |
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This was published 1 year ago
Investors wary on CBA margins after record $10.2b profit
By millie muroi, save articles for later.
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Investors say Commonwealth Bank’s margins will be squeezed by stiff competition in mortgages and customers moving their cash to higher interest savings accounts, after the bank delivered record earnings and unveiled a surprise $1 billion share buyback.
As markets focus on how a wave of refinancing is affecting Australian banks’ returns from mortgages, CBA chief executive Matt Comyn on Wednesday said he expected the market for home loans and deposits would remain highly competitive, and that late repayments would increase.
“There are signs of downside risks building as rising interest rates have a lagged impact on mortgage customers and other cost of living pressures become a financial strain for more Australians,” he said.
“We are seeing consumer demand moderate and economic growth slow, and we are closely monitoring the impact of reduced discretionary spend, particularly on our small and medium-sized business customers.”
On Wednesday, CBA reported a 6 per cent increase in its cash profits to $10.2 billion, surpassing its previous record of $9.9 billion in 2017. The bank’s earnings were broadly in line with the consensus forecast among analysts.
It also announced it would pay a final dividend of $2.40 a share, taking the total dividend for the year to $4.50 a share, up 17 per cent from the previous year.
Shares in CBA closed 2.7 per cent higher at $104.98 a share.
Morningstar analyst Nathan Zaia said the bank’s net interest margin – what it charges for loans compared with funding costs – was a key contribution to the CBA’s profits, but that it would likely soften.
“There’s still a few things that’ll be a drag,” he said. “These include funding cost pressures from wholesale funding, more customers switching into those online savings and term deposits, and a lot of continued refinancing.”
CBA’s net interest margin increased 17 basis points over the year to 2.07 per cent, but decreased 5 basis points from the first half, with Comyn saying it peaked in late 2022.
CBA will pay a final dividend of $2.40 a share, taking the total dividend for the year to $4.50 a share. Credit: Attila Csaszar
Comyn confirmed that increased competition in home lending partly offset the boon from a rising interest rate environment.
“It will continue to be a very competitive context for home lending certainly in the foreseeable future,” he said.
Moody’s Investors Service vice president Daniel Yu said he expected earnings pressures to emerge for CBA in 2024 and that competition was likely to limit further margin gains.
“Meanwhile, inflationary pressures will make cost management difficult and the operating environment is also likely to weaken, leading to even higher credit impairment charges,” he said.
Australian Eagle Asset Management chief investment officer Sean Sequeira said there had been an uptick in signs that customers were facing pressure in paying back loans, but that CBA’s provisions for bad debt didn’t rise as much as expected.
Although currently at a historically low level, Comyn said consumer arrears had increased in recent months, and he expected the number of people behind on loan repayments to continue to rise over the course of the year as they felt the full effects of previously announced cash rate increases.
Sequeira said the $1 billion buyback suggested the bank was in good shape but that it also implied the bank’s loan growth “may not be that large” going forward.
“When loans are growing very strongly, banks tend to hold on to capital to be able to manage the capital requirements of secure loan growth,” he said.
Commonwealth Bank chief executive Matt Comyn says signs of downside risk are building.
CBA’s household deposits increased by $18.3 billion over the year, but at a slower pace than the banking system more widely – particularly in the first half. Comyn said he anticipated a very competitive environment in the year ahead for household deposits.
Commonwealth Bank grew its business lending portfolio, adding $14.5 billion or 11.4 per cent.
Comyn said the drivers of business lending were varied but that healthcare, agriculture and parts of hospitality and industrial commercial property were the main areas driving business loan growth.
Meanwhile, Comyn said troublesome and impaired assets had increased, primarily driven by increases in the construction and commercial property sectors. “Obviously, there’s been a lot of pressure on construction and particularly in housing construction,” Comyn said.
“But we’ve actually seen the fourth quarter a bit better than the third quarter, so we think that we’ve been through the worst of it in construction. In terms of commercial property ... there will continue to be pressure on valuations in lower grade, commercial property.”
CBA’s provisions for loan impairments increased from $5.3 billion to $6 billion this financial year, which the group said reflected the impact of cost of living pressures and rising interest rates on consumer and corporate portfolios.
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CBA share price on watch after FY22 cash earnings jump to $9.6bn
Here's how CBA performed in FY 2022…
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- CBA has released its full year results for FY 2022
- Australia's largest bank had a strong year, delivering 11% increase in cash earnings to $9.6 billion
- This allowed the bank to pay a fully franked $3.85 per share dividend in FY 2022
The Commonwealth Bank of Australia (ASX: CBA) share price will be one to watch closely on Wednesday.
This follows the release of the banking giant's full year results this morning.
CBA share price on watch amid strong cash profit growth
- Revenue up 3% year over year to $25,143 million
- Net profit after tax up 6% to $10,771 million
- Cash earnings up 11% to $9,595 million
- Fully franked final dividend of 210 cents per share
- Net interest margin (NIM) down 18 basis points to 1.9%
- CET1 ratio of 11.5%
What happened in FY 2022?
For the 12 months ended 30 June, CBA reported a 3% increase in revenue to $25,143 million and an 11% lift in cash earnings to $9,595 million.
This was driven by a solid operational performance and volume growth in core businesses, as well as sound credit quality and the reduction of provisions related to COVID-19. The bank's operating expenses fell 1.5% to $11,190 million.
In respect to volume growth, CBA reported home lending growth of 7.4% (but 0.9 times system growth), household deposit growth in line with system at 13.2%, business lending growth of 13.6%, and business deposit growth of 15.1%. The latter two were 1.3 times and 1.4 times system growth, respectively.
CBA's NIM declined 18 basis points year over year to 1.9%. This was due to a large increase in low yielding liquid assets and lower home loan margins. The good news, though, is that management's medium term outlook remains unchanged. It expects margins to increase in a rising rate environment.
In light of the above, the CBA board declared a final fully franked dividend of 210 cents per share. This will be payable on or around 29 September to shareholders on the company's register at the close of play on 18 August. For the full year, this brought the CBA dividend to 385 cents per share, which was up 10% year over year.
How does this compare to expectations?
The good news for the CBA share price is that this result appears to have come in largely ahead of expectations.
According to a note out of Goldman Sachs , its analysts were forecasting cash earnings of $9,509 million and a fully franked dividend of 380 cents per share in FY 2022.
Based on this, CBA has beaten on both cash earnings and dividends.
Management commentary
CBA's Chief Executive Officer, Matt Comyn, was pleased with the company's performance. He said:
By focusing on serving our customers and maintaining disciplined operational and strategic execution, we have delivered a strong financial result for our shareholders. We have focused on strengthening our customer engagements and relationships, and this has resulted in further growth in our core deposit and lending volumes to retail, business and institutional customers. Our operating performance was higher as a result of this continued volume growth and profitability was further supported by sound portfolio credit quality.
In respect to its credit quality, CBA's loan impairment expense decreased $911 million in FY 2022 to a benefit of $357 million. This was driven by reduced COVID-19 overlays, partly offset by increased forward-looking adjustments for emerging risks including inflationary pressure, supply chain disruptions, and rising interest rates.
Comyn was cautiously optimistic on the future. He commented:
Against many measures, Australian households and businesses are in a strong position given low unemployment, low underemployment, and strong nonmining investment. However inflation is high, and we have seen a rapid increase in the cash rate which is negatively impacting consumer confidence. We expect consumer demand to moderate as cost of living pressures increase. It is a challenging time, but we remain optimistic that a path can be found to navigate through these economic conditions. We remain of the view that the medium term outlook for Australia is a positive one. Our purpose, to build a brighter future for all, reflects the role we play in supporting our customers and the domestic economy during periods of uncertainty. We continue to invest in our business, to reinforce our customer propositions and extend our digital leadership position.
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Commonwealth Bank has showered its shareholders with a record $7.7 billion in dividends, paying out almost 80¢ in every dollar of profit it made in the last financial year.
Investors said the higher returns – a $4.65 dividend per share – represented the strength of the balance sheet. The payments and an extension of its on-market share buyback came as the country’s largest bank reported a $9.8 billion cash profit in the 12 months to June 30, down 2 per cent on the previous year but ahead of market expectations.
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BHP positioned for strong copper growth with more expansion on the horizon
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BHP CEO Mike Henry
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27th August 2024
By: Mariaan Webb
Creamer Media Senior Deputy Editor Online
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Copper is taking centre stage in diversified mining giant BHP’s growth strategy, with CEO Mike Henry on Tuesday outlining the group’s plans to double its copper production in Australia, while continuing to invest in its South American assets and building a robust portfolio through early-stage investments.
“In copper, we are in a very good position today,” Henry told investors during the presentation of the group’s full-year results. “We have a pathway towards well over two-million tonnes a year of copper production, so our strong position is set to become even stronger.”
BHP, which earlier this year stepped away from a takeover of Anglo American – a move that would have significantly bolstered its copper portfolio – produced 1.9-million tonnes in the 2024 financial year. This marks the second consecutive year of 9% growth, adding 300 000 t of additional copper production between the 2022 and 2024 financial years.
While a 44-billion-tonne resource at 0.59% copper grade sets BHP apart from its competitors, Henry emphasised that having the resource alone was not enough. He highlighted that BHP had delivered the largest absolute growth over the past two years – outpacing the annual production of several other companies.
“We are one of the world’s largest copper producers and our strong position is set to become even stronger,” Henry said, pointing to a pipeline of copper projects under development in Chile and Australia.
In South Australia, BHP’s strategy aims to ramp up production to 650 000 t/y by the mid-2030s – up from the current output of between 310 000 t/y to 340 000 t/y.
Beyond Australian growth, BHP has made significant strides in narrowing down its expansion plans at its Chilean copper operations.
At Escondida, Henry sees the potential to add about 200 000 t/y of incremental copper production. Further, BHP is considering expanding the concentrator at Spence and extending the life of its leaching operations.
Cerro Colorado also presents opportunities, with 1.7-billion tonnes of inferred resources potentially justifying a restart of operations.
In July, BHP further bolstered its copper resource base and early-stage options by agreeing to acquire a 50% stake in the promising Filo del Sol and Josemaria copper projects in Argentina. These additions complement BHP’s existing assets, including Resolution in the US and ongoing greenfield exploration efforts.
“This is a rare opportunity to grow our pipeline of long-term copper options by securing access to what we consider to be one of the most significant copper discoveries globally in recent decades,” Henry said.
The transaction with Canada’s Lundin Mining is expected to close in the March 2025 quarter.
Looking ahead, BHP anticipates a 70% growth in global copper demand between 2021 and 2050. However, Henry expressed concerns over the industry's ability to meet this demand, citing significant challenges in bringing new supply online.
“The challenges to bringing on new supply remain significant,” the mining CEO stated.
BHP also remains optimistic about its potash prospects, in which it holds a major resource in Canada.
“Similar to copper, we expect global demand for potash to grow by around 70% by 2050 – again driven by rising population and improving living standards, but also changing diets and the need to improve productivity of existing land. And as an indicator of the strong appetite for this product, and excitement about having another supplier in a relatively concentrated market, we already have memorandums of understanding in place with buyers around the world with respect to sales as the mine ramps up,” said Henry.
Stage 1 of the Jansen project is about 50% complete with production expected to start in about two years.
About two-thirds of BHP’s forecast $11-billion-a-year capital expenditure over the medium term is expected to go towards future-facing commodities, including more spend at Jansen and its copper growth assets, said CFO Vandita Pant .
She reported that BHP would also spend on its steelmaking commodities, particularly at Western Australian Iron Ore, as production expands to more than 305-million tonnes a year.
Edited by Creamer Media Reporter
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Moscow Exchange operates Russia's largest public trading markets for equity, fixed income, derivative, foreign exchange and money market products as well as Russia's Central Securities Depository (CSD) and the country's largest clearing service provider, National Clearing Centre. It also provides information services relating to the Russian securities market as well as software solutions and other technology services. In 2018 it ranked among the world's top-25 exchanges for equity trading by value traded and among top-ten exchanges for exchange-traded derivatives by number of contracts traded. It also was the third among global exchanges in bond trading (by value traded).
The Moscow Exchange was formed in December 2011 as a result of a merger between Russia's two main exchange groups. The merger brought together MICEX Group, the oldest domestic exchange and operator of the leading securities, foreign exchange and money market platform in Russia, and the RTS Group, at the time the operator of Russia's leading derivatives market. This combination created a vertically integrated public trading market across most major asset classes. Following the merger the Company became an open joint stock company (OJSC) and was named Moscow Exchange.
| The Moscow Exchange operates Russia's largest public trading markets for equity, bonds, derivatives, foreign exchange and money market products as well as Russia's Central Securities Depository (CSD) and the country's largest clearing service provider, National Clearing Centre. It also provides information services relating to the Russian securities market as well as software solutions and other technology services to its members. In the year ended 31 December 2012, it ranked among the world's top-20 exchanges for equity trading by market capitalisation and among the top-ten exchanges for bond trading by trading volume (by value) and for exchange-traded derivatives by number of contracts traded. Moscow Exchange has 694 companies listed on its securities exchange, as at 31 December 2012, including many of Russia's largest companies. The Moscow Exchange was formed in December 2011 as a result of a merger between Russia's two main exchange groups. The merger brought together MICEX Group, the oldest domestic exchange and operator of the leading securities, foreign exchange and money market platform in Russia, and the RTS Group, at the time the operator of Russia's leading derivatives market. This combination created a vertically integrated public trading market across most major asset classes. Following the merger the Company became an open joint stock company (OJSC) and was named Moscow Exchange. INVESTOR CALENDAR
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Is directed at legal entities that are qualified investors as defined in the Prospectus Regulation (Regulation (EU) 2017/1129); is only intended to be available to qualifying high net worth companies, unincorporated associations, trustees and other persons who fall within the exemption created by article 49 of the FSMA (Financial Promotion ...
Full Year Results Presentation (PDF) Commonwealth Bank Basel III Pillar 3 - capital adequacy and risk disclosures as at 30 June 2024 (PDF) ... capital adequacy and risk disclosures as at 31 December 2022 (PDF) Items impacting CBA's financial reporting ... Read our Annual Reports from 1997-2022. We can help Shareholder FAQs. Share registry ...
2022 Annual General Meeting. The 2022 Annual General Meeting was held on Wednesday, 12 October 2022. Learn more. Our Annual Report for 2022 contains detailed information on our strategy, financial results and sustainability performance.
2022 Full Year Results Presentation. The release of this announcement was authorised by the Continuous Disclosure Committee. The material in this presentation is general background information about the Group and its activities current as at the date of the presentation, 10 August 2022.
Results Presentation and Investor Discussion Pack ... in this presentation is general background information about the Group and its activities current as at the dateof the presentation, 09 February 2022. It is information given in summary form and does not purport to be complete. ... CBA Growth . 12 months to Dec 21 +12.2% +12.5% +14.1%. 8. 18 ...
Australia's biggest bank has announced its results for the 2022 financial year. The Commonwealth Bank (CBA) has posted a full-year cash net profit after tax of $9.595 billion, 11 per cent higher than in the previous financial year. In its results released on Wednesday, CBA said the profit increase was supported by operational performance and ...
Commonwealth Bank (ASX:CBA) announcement released to the ASX: 2022 Full Year Results Presentation at 2022-08-10 07:39:48 (AEDT) - announcement is 136 page(s) in length
Results Presentation and Investor Discussion Pack For the half year ended 31 December 2022. 2 Important information Commonwealth Bank of Australia | Media Release 006/2023 | ACN 123 123 124 | Commonwealth Bank Place South, Level 1, 11 Harbour Street, Sydney NSW 2000. ... Investors should consider these factors, and consult with their own legal ...
CBA - 1H23 Profit Announcement - Analyst and Investor Briefing. Date: 14 February 2023 Time: 3:30 pm (America/Los_Angeles UTC-07:00) Duration: 01:00. Information; Please join Chief Executive Officer Matt Comyn and Chief Financial Officer Alan Docherty to announce the 2023 half year results briefing.
Investors wary on CBA margins after record $10.2b profit. ... with Comyn saying it peaked in late 2022. ... Commonwealth Bank grew its business lending portfolio, adding $14.5 billion or 11.4 per ...
Key points. CBA has released its full year results for FY 2022. Australia's largest bank had a strong year, delivering 11% increase in cash earnings to $9.6 billion. This allowed the bank to pay a ...
For all other enquiries contact the Commonwealth Bank Investor Relations team. Find the latest Commonwealth Bank Group information for investors including information on corporate profile and share prices.
Final dividend (¢) 200, up 104pc from 98, payable Sept. 29. Commonwealth Bank of Australia will return almost $10 billion to shareholders through buybacks and dividends after reporting a 19.8 per ...
Commonwealth Bank of Australia's (BRSE:CBA) dividend yield is 3.38%. Dividend payments have increased over the last 10 years and are covered by earnings with a payout ratio of 82.05%. ... 2022, Payable on March 30, 2023 Feb 15. ... Current Payout to Shareholders. Earnings Coverage: At its current payout ratio (82.1%), CBA's payments are covered ...
Gold rush for CBA investors with $7.7b cash splash. James Eyers and Lucas Baird. Updated Aug 14, 2024 - 5.05pm, first published at 7.59am. Commonwealth Bank has showered its shareholders with a ...
Commonwealth Bank of Australia (CBA) is scheduled to announce its half year results on 9 February 2022. A virtual results briefing will be webcast with Chief Executive Officer, Matt Comyn, and Chief Financial. Officer, Alan Docherty, at 11:00am (Australian Eastern Daylight Savings Time) on 9 February 2022. This.
Performance Highlights. Solid earnings in Q2 2022 with fully-diluted EPS of $0.73 on a GAAP-basis and $0.85 on an operating-basis1. Quarterly cash dividend of $0.43 per share, up 2.4% from the comparable year quarter. In July 2022, the Company announced a quarterly dividend increase of $0.01, or 2.33%, to $0.44 per share.
CREDIT BANK OF MOSCOW. IFRS Financial statements. 2024. 2023. 2022. 2021. 2022. Summary Consolidated Financial Statements as at 31 December 2022.
Delivering for shareholders. The final dividend is $2.50 per share, delivering a total dividend for FY24 of $4.65 per share fully franked - an increase of 15 cents on the previous year. This represents a full-year payout ratio of 79 per cent of the bank's cash earnings. The final dividend is expected to be paid to shareholders on or around ...
Your investor relations contact. Soumya Chandramouli - Chief Financial Officier Tel: +32 10 47 58 90 Send us an email.
4Q 2023 Earnings presentation 3Q 2023 Earnings presentation MOEX Strategy 2028 webcast transcript Webcast recording on MOEX Strategy 2028 2Q 2023 Earnings presentation 1Q 2023 Earnings presentation 4Q 2022 Earnings presentation 3Q 2022 Earnings presentation 2Q 2022 Earnings presentation Investor presentation, March 2022 Investor presentation, February 2022 Investor presentation, January 2022 ...
3Q20. March quarter trading update, announced 13 May 2020. ASX announcement. Presentation. Commonwealth Bank Basel III Pillar 3 - capital adequacy and risk disclosures as at 31 March 2020. Listen to 3Q20 briefing. Transcript of opening remarks - 3Q20 briefing. CEO's video message. Transcript of CEO's message.
BHP, which earlier this year stepped away from a takeover of Anglo American - a move that would have significantly bolstered its copper portfolio - produced 1.9-million tonnes in the 2024 ...
Investor Relations. Moscow Exchange operates Russia"s largest public trading markets for equity, fixed income, derivative, foreign exchange and money market products as well as Russia"s Central Securities Depository (CSD) and the country"s largest clearing service provider, National Clearing Centre. It also provides information services relating to the Russian securities market as well as ...