Commonwealth Bank of Australia (CBA) H2 2026 earnings summary

Executive summary

• Cash NPAT rose 7% to $10,982m–$11bn, driven by strong operating income, disciplined growth across all domestic franchises, and robust digital engagement and technology investment supporting customer experience.

• Statutory NPAT increased 7.7% to $10,911m, broadly in line with cash NPAT.

• Return on equity (cash) improved by 50bps to 14.0%, with a final dividend of $2.70 per share, up 20c from FY25.

• Maintained leading consumer net promoter score for 44 consecutive months and added 655,000 retail and 90,000 business transaction accounts.

• Continued investment in technology, AI, and digital banking, with over 9.6 million app users and significant modernization initiatives.

Financial highlights

• Operating income grew 6.2% to $30,224m, supported by lending and deposit volume growth and stable margins.

• Cash NPAT was $10,982m, up 17% on FY25 and 2% on 1H26.

• Underlying operating expenses increased 5.8% to $13,755m, reflecting continued investment, inflationary pressures, and customer remediation.

• Net interest margin at 2.05%, down 3bps year-over-year.

• Final dividend increased to $2.70, full-year dividend $5.05, payout ratio 77%, fully franked.

Outlook and guidance

• Expect mortgage credit growth in the 4%-5% range for FY 2027, with stabilization in application volumes.

• Focus on deepening customer relationships, converting franchise growth into sustainable risk-adjusted earnings, and maintaining discipline in volume, margin, and capital choices.

• Gross benefits from AI expected to exceed investment in FY 2027, with ongoing productivity and technology gains.

• Anticipate continued investment in technology, with IT costs likely to remain above inflation as cloud migration and AI adoption accelerate.

• Capital, funding, and liquidity positions provide flexibility and resilience.