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CBA Shares Are On Fire Today

Owen Raszkiewicz
Owen Raszkiewicz
Owen Raszkiewicz

Owen Raszkiewicz

Owen is the Chief Investment Officer of Rask Invest and Founder of Rask. Since founding The Rask Group in 2017 in the hillside suburb of Upwey, Victoria, Owen has overseen the growth of the Rask platform to over 200,000 investor followers. Today, Owen oversees the Rask Analyst team, which helps more than 4,000 Aussies build core portfolios from ETFs and shares, he hosts Australia's biggest investing podcast, The Australian Investors Podcast, appears on Rask's other channels, covering Property, Business and Finance; and leads Rask Education - our education platform which has enrolled over 25,000 Australians into free finance courses. Prior to founding Rask, Owen was an investment analyst at the highly regarded managed funds research business and a writer/analyst for one of the most well-known share market publications. Owen’s formal qualifications include a Master of Applied Finance and Master of Financial Planning from Kaplan Professional, Bachelor of Technology (Information Systems) from Swinburne University of Technology, Advanced Diploma of Financial Services (Financial Planning) and Diploma of Mortgage Broking Management. He's also completed level 1 of the Chartered Financial Analyst (CFA) program.
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The Commonwealth Bank of Australia (ASX: CBA) share price rose 2.6% today, making it one of the Australian share market’s top performers, following the release of its 2018 financial report.

What Did CBA Report?

For the year to June 2018, the CBA report had the following highlights:

  • Cash profit rose 3.7% to $10 billion (excluding one-off items)
  • A final dividend of $2.31 will be paid, taking full-year dividends 2 cents per share higher to $4.31
  • CBA’s bill for AUSTRAC fines and regulatory costs were $700 million and $389 million, respectively
  • Home loan arrears increased

“Despite the challenges we have faced this year, the fundamentals of our business remained strong,” CBA CEO Matt Comyn said.

“We are building a simpler, better bank, fully aligned to meeting the needs of customers in our core markets.”

The results were a modest beat on analysts’ expectations, according to Bloomberg data.

The CBA share price ended 2.6% higher at $74.81.

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The information on this website is general financial advice only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. In addition, you should obtain and read the product disclosure statement (PDS) and Target Market Determination before making a decision to acquire any financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms & Conditions and Financial Services Guide before using this website.

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