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Article: COMMONWEALTH BANK OF AUSTRALIA LTD - HALF YEARLY REPORT.
- Article from:
- AsiaPulse News
- Article date:
- February 9, 2000
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(Full text of statement released to the Australian Stock Exchange on Feb 9, 2000. Contact details below.)
COMMONWEALTH BANK OF AUSTRALIA.(ASX:CBA)
Half Yearly Report/ASIC accounts
MEDIA RELEASE
The Commonwealth Bank today announced a net operating profit of $840 million for the half-year ended 31 December 1999.
The Managing Director, Mr David Murray, said that the result was the outcome of strong growth in business against the background of a heightened competitive environment and reducing margins.
The profit result reflects a number of factors, including lower than expected bad debt expense, further erosion of ...