Commonwealth Bank has flagged an additional $2 billion share buyback and lifted its interim dividend after delivering a stronger than expected rise in first-half profit despite competitive pressures.
Australia's biggest lender saw pressure mount on margins but offset this by clawing market share from rivals and says it's positive about the outlook for fiscal 2022 as the economy gathers pace despite the challenges from the Omicron variant of COVID-19.
Net cash earnings, the bank's preferred measure of profitability, jumped 23 per cent over the six months to December 31, to $4.7 billion.
