The Commonwealth Bank of Australia (CBA) has posted a cash profit of A$9.14bn for the financial year ended 30 June 2015, an increase of 5.26% compared to A$8.68bn a year ago.
Group net interest income rose by 5%, with average interest earning assets increasing A$50bn to A$755bn and retail and business average interest bearing deposits increasing A$32bn to A$445bn.
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Cost-to-income ratio increased by 10 basis points to 42.8%, supported by the focus on productivity initiatives which reaped A$260m in savings over the last 12 months.
CBA’s retail banking services registered full year net profit of A$3.87bn, up 5.13% from A$3.68bn in the year ago period.
CBA CEO Ian Narev said: "This financial year saw all-time highs in retail customer satisfaction, with the Group returning to the number one position at year-end, and ongoing high levels of customer satisfaction in our other businesses.
"As a result, our balance sheet continued to grow, and combined with ongoing margin discipline, this resulted in good levels of revenue growth given market conditions. We also maintained our focus on productivity, which is particularly important given increasing levels of regulatory and compliance costs."
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By GlobalDataThe bank declared a final dividend of A$2.22 per share, an increase of 2% on the 2014 final dividend. Total dividend for the year was A$4.20, up 5%.
Meanwhile, the bank also announced a A$5bn capital-raising to meet stricter regulatory requirement.
