Company News Summary
Commonwealth Bank of Australia Announces ASB Half Year Results Media Release
Original announcement: ASB Half Year Results Media Release
Commonwealth Bank of Australia noted that ASB reported statutory (NPAT) of $525m for the six months ended 31 December 2016. This represents an 11% increase on the pcp. Cash NPAT was $507m, an increase of 6% on the pcp. Cash NPAT is the preferred measure of financial performance as it presents ASB's underlying operating results and excludes items that introduce volatility and/or one-off distortions, and are not considered representative of ASB's on-going financial performance. Home loans increased by 10% against the pcp while business, commercial and rural lending grew by 13%. Customer deposits also continued to grow (5%), despite increased competitor intensity and slowing market growth.
See more ASX300 News Announcements