Commonwealth Bank has reported a record $10.25 billion profit for the 2024-25 financial year, driven by an additional $40 billion in loans to homeowners and businesses, bringing its total loan book to $761 billion.
The proportion of customers behind on mortgage payments declined in the last quarter, with households benefiting from easing inflation, lower interest rates, and recent tax cuts. CEO Matt Comyn noted that many households now have higher disposable incomes, the wealth gap between younger and older Australians has narrowed, and younger Australians are rebuilding savings while discretionary spending has risen.
CBA’s net interest margin grew by nine basis points to 2.08%, and the bank announced a final dividend of $2.60 per share, taking the total dividend for the year to $4.85 — returning $8 billion to more than 8 million shareholders.
Despite results meeting analyst expectations, CBA’s share price fell by more than 8.5% in the first hour of trading, dragging the ASX200 lower from its record high after the Reserve Bank’s recent interest rate cut.
The bank also announced a new partnership with OpenAI, aiming to strengthen scam and fraud prevention while providing customers with more personalised services.
