September 12, 2022
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Commonwealth Bank believes it would have come close to matching 2022’s “extraordinary” nine-month profitability had it not been for $3m in new Business Licence fees and utility costs “more than doubling”.
Commonwealth Bank yesterday revealed its $19.58m first quarter profits "exceeded expectations by 54 percent" despite having to contend with a more than one-third year-over-year increase in licence fees.
Commonwealth Bank yesterday said it beat 2022 profit targets by 10 percent as it used its record net income to return $18m to shareholders via two extraordinary dividend payments.
Commonwealth Bank is targeting its growing deposit base for new borrowers after hitting its 2022 full-year profit goal in just nine months through a $58.22m bottom line.
Commonwealth Bank will this month “double” its quarterly dividend payment, and return more than 27 percent of year-to-date profits back to shareholders, as it forecasts returning to pre-Dorian annual profits of $50m-$60m for 2022.