CBA’s FY19 Result Likely to be the Turning Point for Australia’s Once Proud Premier Bank
Wide-moat Commonwealth Bank of Australia releases fiscal 2019 results Aug. 7, 2019 and we expect an 11% decline in cash profit to AUD 8.8 billion, slightly higher than consensus. The result will be heavily influenced by AUD 1 billion in customer remediation costs and additional compliance and regulatory spending. Despite the decline in earnings, the fundamental business remains strong, with the stock price up 18% since late December 2018. Our forecast AUD 4.31 fully franked dividend is not under...Commonwealth Bank of Australia provides integrated financial services including retail, business and institutional banking, funds management, superannuation, life insurance, general insurance, broking services and finance company activities. Co. operates in seven segments, Retail banking Services, Business and Private Banking, Institutional Banking and Markets, Wealth Management, New Zealand, Bankwest, as well as International Financial Services and Other Divisions. As of June 30 2016, Co. had total assets of A$933.1 million and total deposits of A$588.0 million.
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