Commonwealth Bank of Australia (CBA) has delivered an 11% uplift in cash net profit after tax of $9.6 billion for the 12 months ending 30 June 2022.
New services were launched for business bank customers including the touchscreen standalone smart payments terminal to support retail and hospitality businesses. The terminal is expected to have 20 apps in the market by the end of this calendar year. It already supports private health claims through CommBank Smart Health and Doshii for pay@table and bill splitting for hospitality customers.
Investment spending is of $1.9 billion as the group continued to invest in its core banking franchises. Underscoring the ongoing improvements at the core business and strategic levels, Matt Comyn, CBA’s CEO said the operating context had changed significantly during the year. Commenting on the outlook for the national economy, Comyn said: “We continue to invest in our business to reinforce our customer propositions and extend our digital leadership position.”