CBA profit slides to $4.47b, dividend flat | clancyyeates
The Commonwealth Bank has delivered a first-half cash profit of $4.47 billion and kept its interim dividend unchanged, as the banking giant benefited from market share growth and resilient profit margins.
"In an environment characterised by low interest rates and relatively low credit growth, our banking businesses performed well, leading to strong volume growth in home lending and deposits."and a flat dividend, with some also tipping capital management from the banking giant. In a sign of the impact of the bushfires, the bank took a $100 million provision for exposure to the bushfire and drought, as well as $83 million in bushfire-related insurance claims.
On the economy, Mr Comyn said growth would be affected in the first half of 2019 by the drought, bushfires, and coronavirus, before bouncing back in the second half of the year.
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