CBA: Result 2016

CBA has reported another good result despite the tough conditions facing it and its competitors.

‘Dividends are not annuities,’ noted CBA chief executive Ian Narev at the bank’s 2016 result presentation. It's an important point to remember whether you’re investing in banks or other companies. You invest in companies for the value they can create, and dividends are just one of the means by which companies can deliver that value to shareholders. If the value creation stalls, then ultimately so to might the dividend.

Loans up 8%; interest income up 7%

Impairments jump 27%, to 0.19% of loans

Cash EPS down 1%; dividend flat

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