Commonwealth Bank reports record $8.63 billion profit; Sensis rebrands as part of “new digital focus”: Midday Roundup

Commonwealth Bank reports record $8.63 billion profit; Sensis rebrands as part of “new digital focus”: Midday Roundup

The Commonwealth Bank has posted a full-year profit of $8.63 billion, up 13% year-on-year, with the bank’s board declaring a final dividend of $2.18 per share.

The result was off the back of an increase in group net interest income of 8%, while other banking income grew 4%, with average interest earning assets up $52 billion to $705 billion.

In its official statement on the results, Commonwealth Bank group chief executive officer Ian Narev described the result as “building a strong Australia”.

“During this financial year, we lent over $130 billion to Australian households and businesses, held $26 billion more deposits, and increased the investments we helped manage by over $20 billion,” he said.

Sensis rebrands as part of “new digital focus”

Telephone directories business Sensis has announced a change in its branding, including a new logo, in a bid to reposition itself as an online marking services company targeting SMEs.

In a statement, Sensis chief executive John Allan said the new logo is based around a mouse named Dash.

“Dash represents the characteristics we need to continue to succeed in the future: agility, adaptability and resourcefulness. He is a metaphor for our ambition to help our customers,” said Allan.

“Regardless of their size, most Australian businesses have a number of things in common. They’re hardworking, resourceful and nimble; just like Dash. They solve problems, take calculated risks and keep a close eye on their resources.”

Shares down on open

The Australian share market opened slightly lower this morning, with investors again waiting for more profit releases from some of the big players, including CBA.

The S&P/ASX200 benchmark was down 22.7 points to 5507.6 points at 11.47am AEST. On Tuesday, the Dow Jones closed 9.44 points lower, down 0.06% to 16560.5 points.

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