CBA Provided Information On Non-cash Items And First Half Financial Comparatives: A Brief Look

  • Jan 18, 2019 AEDT
  • Team Kalkine
CBA Provided Information On Non-cash Items And First Half Financial Comparatives: A Brief Look

Commonwealth Bank of Australia (ASX: CBA) had made an announcement related to the non-cash items. The bank also provided information on financial comparatives for the first half. As per the press release dated January 19, 2018, the bank’s non-cash losses, which stood at $169 million (on the post-tax basis), would be included in Statutory NPAT in the interim result. The company stated that the amount happens to possess two primary components. First, the losses related to the disposals of businesses which amounted to -$74 million (on the post-tax basis). Second, the losses related to the IFRS volatility as well as hedging which amounted to -$91 million (on the post-tax basis) which was seen largely because of Australian dollar’s depreciation against NZ dollar.

The release issued by Commonwealth Bank of Australia also provided information about financial reporting which happens to arise because of the operating model’s simplification. The bank had stated that, since they are working towards the strategy of becoming a simpler bank, they have undertaken several changes with regards to the operating model recently. The bank had stated that the changes did not impact the Commonwealth Bank of Australia’s cash net profit after tax. However, these changes have led to the changes in Income Statement as well as Balance Sheets’ presentation of the divisions which have been affected.

The issued release stated that as a result of Australian retail businesses’ consolidation, the retail banking services division of Commonwealth Bank of Australia now also consists Bankwest. Moreover, for the consolidation of Commonwealth Bank of Australia’s business banking, the transfer of small business banking division had been done to the Business and Private Banking.  The release also stated that, on February 6, 2019, the bank would be announcing the interim results and the briefing related to the results would be handled by Mr. Matt Comyn (Chief Executive Officer) as well as by Mr. Alan Docherty (Chief Financial Officer).

It is important to note that the market players would be closely tracking the performance of Commonwealth Bank of Australia largely because, lately, the banking sector in Australia had been dealing with several issues. Let us now understand how Commonwealth Bank of Australia had performed today. The bank’s stock ended the session on the positive note as it got closed in green. On January 18, 2019, Commonwealth Bank of Australia ended the session at A$73.230 per share which implies the rise of A$0.460 per share or 0.632%. Commonwealth Bank of Australia’s market capitalization stood at $128.82 billion.

However, Commonwealth Bank of Australia’s annual dividend yield stood at 5.92%. Talking about the past performance of the stock, it had delivered the return of -2.31% in the span of previous six months. Moreover, over the time frame of the previous three months, the stock posted the return of 8.77%.


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