Commonwealth Bank of Australia (CBA) has reported a cash profit of A$4.8bn for the first half ended 31 December 2015, a rise of 3.9% compared to A$4.62bn in the year ago period.
Operating income stood at A$12.36bn, up 6.1% from A$11.65bn a year ago. While operating expenses rose 6.1% to A$5.22bn from A$4.91bn a year earlier.
CBA’s retail banking services posted a cash profit of A$2.21bn for the half year ended 31 December 2015, a rise of 7.8%from A$2.05bn in the prior year.
During the period, cash profit at the bank’s wealth management division rose 6.5% to A$372m from AS349m a year ago. Cash profit at the business and private banking unit of the bank increased 5.1% year-on-year to A$803m.
CBA CEO Ian Narev said: "Our focus on customers has continued during this period to benefit the people, businesses and communities we exist to serve. Our people remain the key to our on-going success. As a result of their efforts, we ranked outright number one for retail customer satisfaction in the half, and equal first for business customer satisfaction.
"Customer satisfaction has again led to volume growth across our businesses. Operating income grew 6 per cent during this period, with all businesses contributing. This consistency of income, combined with our focus on long-term productivity, sustains our commitment to keep investing in our customer-focused strategy."
