CBA’s Messy FY18 Profit Hides a Strong Underlying Business Franchise. FVE AUD 83 Intact
As expected wide-moat-rated Commonwealth Bank of Australia's fiscal 2018 result was messy. But the underlying cash profit from continuing operations--excluding the one-off AUSTRAC penalty--increased a solid 3.7% to AUD 10 billion. The AUD 2.31 per share final dividend increased marginally from a year ago, taking total fully franked dividends to AUD 4.31, based on a 75% payout excluding one-offs. A slightly higher divided is a vote of confidence in the outlook from the Board. Net interest margins...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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