CBA dividend surprises, profit drops 11.3 per cent

James Eyers and James Frost

Updated Aug 12, 2020 – 11.28am, first published at 7.43am

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Key Points

Revenue ($m) 23926.0, up 1.2%
Cash profit ($m) 7296.0, down-11.3%
Net profit ($m) 9634.0, up12.0%
Final dividend (c) 98.0, down-57.6%, payable on Sept 30

Commonwealth Bank has revealed the scale of the damage from the coronavirus crisis, saying its full-year cash profit fell 11.3 per cent to $7.3 billion as it increased provisions against loan losses.

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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay

James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years.