FY2017 results reported
It's been a tumultuous week for the Commonwealth Bank of Australia (CBA), to say the very least!
Onwards to the results for financial year 2017...
CBA reported statutory NPAT of $9.928 billion for FY2017, up by +8 per cent on the prior year.
Loan impairment expense fell sharply, accounting for much of the improvement, with return on equity still humming along at 16 per cent.
A look at consumer arrears shows the home loan portfolio with moderate 0.60 per cent arrears.
In Western Australia, home loan arrears are now quite elevated at 1.23 per cent.
Elsewhere, arrears are low at just 0.49 per cent, despite some ongoing challenges in regional Queensland.
A juicy final
dividend of $2.30 per share was determined, delivering a full
year dividend of $4.29 - and that's fully franked.