Commonwealth Bank of Australia (CBA.AX) reported that its statutory net profit after tax for the half year ended 31 December 2023 was A$4.76 billion, down 8% from the prior year.
On a cash basis, net profit after tax from continuing operations was A$5.02 billion down 3% from the prior year, reflecting flat operating income and higher operating expenses, offset by a decrease in loan impairment expense.
On a cash basis, operating income was flat at A$13.65 billion, supported by volume growth and higher volume based fee income, offset by margin compression.
The interim dividend was 2% higher at A$2.15 per share, fully franked. The dividend payout ratio is 72% of cash net profit after tax. The Bank will continue to target a full year payout ratio of 70-80% Cash net profit after tax.
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