CBA: Result 2015 and rights issue

CBA has declared a full-year profit of $9.1bn and dividends of $6.8bn, but it wants $5bn of it back.

You can see why it’s taken a little while for Commonwealth Bank (CBA) to get its capital raising together. Yesterday the bank issued the small matter of 11 ASX announcements (excluding a change of shareholding notice for OzForex), totaling 449 pages – and that’s without the retail offer document. Most of it is very dull and very uninformative: lots of ‘cultural change driving service and efficiency benefits’ and the like.

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