The Courier-Mail

Which bank records $9b profit

Ashes burn but WAGs are to stay


THE na­tion’s big­gest bank has recorded the big­gest ever an­nual profit, record­ing a $9.1 bil­lion net profit for the year to June.

Un­veil­ing the 5 per cent profit rise for the year to June, Com­mon­wealth Bank chief Ian Narev said the Aus­tralian econ­omy had some “good foun­da­tions” for growth.

The in­sti­tu­tion’s 800,000 mum and dad share­hold­ers are set to share in the healthy bot­tom line, with the bank rais­ing its fi­nal div­i­dend by four cents to $2.22 per share, tak­ing the to­tal for the year to $4.20 per share. This will pay out about $6.8 bil­lion in div­i­dends.

The CBA will also tap share­hold­ers for bil­lions to strengthen its cash buf­fers as the reg­u­la­tor asks all big lenders to for­tify their books to guard against another fi­nan­cial cri­sis. CRICKET se­lec­tor Rod Marsh says there will be no change to the pol­icy of hav­ing wives and girl­friends on tour, de­spite be­hind-the-scenes ar­gu­ments be­ing blamed in part for Aus­tralia’s woe­ful Ashes cam­paign.

He said the ar­gu­ment over sig­nif­i­cant oth­ers be­ing a fac­tor in this Ashes catas­tro­phe was “codswal­lop”.

“You can’t – in this day and age (ban the wives and girl­friends),” said Marsh, the chair­man of se­lec­tors.

“The sched­ul­ing is such that you can’t play cricket un­less you see your fam­ily.”

Coach Dar­ren Lehmann said WAGs would never be banned from tour­ing as long as he was in charge.

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