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Commonwealth Bank Of Australia FY Profit Up 6%

Commonwealth Bank of Australia (CBA.AX) reported that its net profit attributable to equity holders of the Bank for fiscal year ended 30 June 2022 rose about 6% to A$10.77 billion from last year's A$10.18 billion, reflecting operational performance and volume growth in core businesses as well as sound credit quality and the reduction of provisions related to the uncertainties associated with the impacts of the COVID-19 pandemic. On a per share basis, net income was 601.4 cents per share compared to 539.7 cents per share in the previous year.

Cash net profit after tax from continuing operations of A$9.60 billion was 11% higher reflecting operational performance, volume growth in core businesses and a loan impairment benefit.

Net interest income for the year grew to A$19.47 billion from A$19.30 billion in the prior year. Other banking income was A$5.46 billion up from A$4.80 billion in the previous year.

The final dividend was A$2.10 per share, fully franked, delivering a total dividend for the year of A$3.85 per share, fully franked. The record date is 18 August 2022, the final DRP participation date is 19 August 2022 and the final dividend will be paid on or around 29 September 2022.

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