Commonwealth Bank's profits fell more than 6% to $4.6 billion in the first-half of FY19 and the bank kept its interim dividend at $2 per share.
The $4.6 billion NPAT includes discontinued operations: CommInsure Life, CFSGAM and Sovereign. The cash NPAT from continuing operations was $4.7 billion, up 1.7% over H1 of FY18.
The interim dividend (which includes discontinued operations) is flat at $2 per share for the period.
CBA's operating income fell almost 2% to $12.4 million as lower net interest margins, lower markets and fee income and weather events offset the growth in volume.
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Operating expenses were down 3% to $5.3 billion as one-off items from the prior period offset the increased spending on advice, remediation and compliance.
The bank's total spending on remediation now stands at $1.46 billion, including provisions. This includes advice.
Majority of this ($1.2 billion) is for the wealth customers including reviews of its advice and service delivery functions, Credit Card Plus, CommInsureLife Insurance, CommInsureLoan Protection and NewCo Indemnity. $245 million is to be spent on remediating banking customers on package fees, and interest and remediation.
CBA's stock jumped on Tuesday, as the Royal Commission's final report delivered after market close on Monday stayed away from recommending an end to vertical integration.