Commonwealth Bank Set to Deliver a Solid FY17 Result. AUD 85 FVE Unchanged
Wide-moat Commonwealth Bank of Australia is expected to impress with the Aug. 9 release of fiscal 2017 results. We forecast a AUD 9.82 billion cash profit and a final fully franked dividend of AUD 2.26 per share, taking total dividends to AUD 4.25 per share. Consensus estimates are in line with our forecasts. If achieved, the cash profit will be 4% higher than fiscal 2016 with EPS up a modest 3.2%. We see this is as good outcome and a vote of confidence in the outlook for earnings and balance sh...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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