Commonwealth Bank’s CommInsure life insurance unit has been charged with 87 counts of unlawfully selling life insurance policies over the phone. Picture: Hollie Adams
Commonwealth Bank’s CommInsure life insurance unit has been charged with 87 counts of unlawfully selling life insurance policies over the phone. Picture: Hollie Adams

CBA $4.5bn H1 profit beats expectations

Commonwealth Bank has beaten market expectations with a $4.48 billion first-half cash profit amid pressure from record low interest rates and rising costs.

Australia's biggest bank beat the $4.34 billion figure that had been tipped by analysts, but a flat net operating income result, as well as higher expenses, and a 12.5 per cent increase in loan impairments meant the figure for the six months to December 31 was 4.3 per cent down on last year's $4.68 billion.

Group net interest margin was up one basis point at 2.11 per cent, which the bank said had helped it to hold its interim dividend at a fully-franked $2 per share.


‘Stands for nothing’: Newman’s ScoMo sledge

Premium Content ‘Stands for nothing’: Newman’s ScoMo sledge

"They are a government of spin. No substance and they do nothing."

The town with a minimum temperature of 33C

Premium Content The town with a minimum temperature of 33C

Records are predicted to melt in the first week of summer

The evil monsters who must die in jail

Premium Content The evil monsters who must die in jail

Whole-life orders, set be legislation, are the solution