Australia's Commonwealth Bank annual net profit up 5%
Australia's Commonwealth
Sydney - Arab Today
Australia's biggest bank, the Commonwealth, on Wednesday reported a five percent rise in full-year net profit to a record Aus$9.063 billion (US$6.62 billion).
The nation's largest company by market capitalisation said net profit for the year to June 30 rose from Aus$8.63 billion the previous year, broadly matching expectations.
Shares in the financial institution went into a trading halt as it announced a Aus$5 billion capital-raising to meet tougher regulatory requirements.
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