Commonwealth Bank Reports $5.1 Billion Half-Year Profit, Surpassing Expectations

Australia's largest bank raises dividends and forecasts economic relief as inflation moderates and interest rate cuts are anticipated.

The Commonwealth Bank posted a half-year net profit of $5.13 billion, a 2% increase from the previous year, exceeding analyst expectations.
Shareholders will receive a fully franked interim dividend of $2.25 per share, a 5% increase compared to the same period last year.
The bank attributed its profit growth to robust performance in core business areas, lower loan impairments, and stable net interest margins of 2.08%.
CEO Matt Comyn highlighted that moderating inflation and expected interest rate cuts in 2025 could provide relief for households and bolster business confidence.
Despite the challenging economic environment, including cost-of-living pressures and weak private sector growth, the bank has supported customers with over 65,000 tailored payment arrangements.