Commonwealth Bank of Australia (AU:CBA) has released an update.
ASB, a subsidiary of Commonwealth Bank of Australia, reported a 10% decline in cash net profit after tax to $1,364 million for the fiscal year 2024. Despite the drop, the bank saw a modest 1% growth in home and business lending, while customer deposits increased by 5%. Operating expenses rose 3% due to investments in technology and fraud prevention, but the bank’s regulatory capital improved, indicating solid financial health amid challenging economic conditions.
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