After posting a $1.9 billion third quarter profit, Commonwealth Bank looks set to record a record full-year result.
This morning the bank said its net profit for the three months ended 31 March was $1.9 billion, an increase of 9% which puts it on track for a record $7.5 billion full-year result.
Commonwealth bank, which last traded up at $72.74, has posted $5.7 billion in profit this financial year.
In a statement today it said revenue growth continued to reflect conservative business settings and modest system credit growth.
Improvements in global equity markets saw Commonwealth Bank’s funds under administration and advice grow by 4% in the quarter.
This week most of the bank’s staff were told they would receive a $250 gift after achieving a group-wide customer service target.
Now read: Here’s The Email To 38,000 CommBank Staff Advising Of A $250 Bonus
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