CBA reports 26% profit increase
The Commonwealth Bank has reported a 26% increase in statutory net profit after tax to $4,741 million.
The bank’s cash net profit after tax was up 23% to $4,746 million which it said was due to above system growth in all core markets, lower collective provisions from an improvement in the economic outlook and a reduction in remediation expenses.
The half-year result has prompted the board to declare a fully franked dividend of $1.75 per share.
Commenting on the result, the bank’s chief executive, Matt Comyn said the firm expected the Australian economy to have a strong year in 2022 despite early challenges from the Omicron strain.
However, he noted that the Commonwealth Bank Economics team was forecasting a modest modesty monetary policy tightening cycle through the new financial year, with the first official interest rate increase forecast for August, this year.
Its in existing law.SOCIAL SECURITY ACT 1991 - SECT 1223Ahttps://www.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ssa1991186/s1223a.html
Can someone point out where, in the Exposure Draft, the Centrelink assessment would be from the start of the pension…
Offer the exit door on these old products, then set a 5 year Centrelink clawback Hammer to the head. Awesome…
Wholesale should be opt in for all clients, and be extended to super advice and risk.
Misses the point. Plus I don't get it. Then SMSF Trustees should also need to sit an exam, AND people…