CBA to muscle in on business banking

James FrostFinancial services writer

Feb 12, 2020 – 8.04pm

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Key Points

Half-year Total income ($m) 12416.0 , up 0.1%
Pre-tax profit ($m) 6341.0 , down -3.1%
Cash net profit ($m) 4477.0 , down -4.3%
Interim dividend ($) 2.0 , flat 0.0%
Date dividend payable March 31

Commonwealth Bank of Australia is preparing to attack rivals for a bigger share of the spoils from business banking after delivering one of the standout results of the reporting season and further entrenching its dominance of retail banking in Australia.

CBA chief executive Matt Comyn delivered a bullish outlook for the bank and the economy on Wednesday when he revealed it had extended its lead on its rivals with strong gains in the key product areas of mortgages, deposits and business accounts.

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.