CBA optimistic on outlook

Chairman David Turner flags resurgence in business confidence at AGM.

Commonwealth Bank of Australia (CBA) is optimistic of the yeah ahead and hopes the early signs of a revival in business confidence continue to be built upon, the lender's annual general meeting has heard.

CBA chairman David Turner told shareholders in Adelaide the lender was looking forward to similar trading conditions to the previous year, in which it posted a cash net profit after tax was $7.8 billion.

"Overall, we believe that the underlying conditions for our business in the 2014 financial year will be similar to those we experienced last year, although the outlook may be a little stronger," Mr Turner said.

Mr Turner also forecast a resurgence in confidence, though warned all indicators of such an uplift were very preliminary.

"In Australia, neither consumer nor business confidence have been strong over the past year. But more recently, there have been signs that business confidence may be picking up, and our own customer feedback has been more positive, though these are early days," he said.

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