Commonwealth Bank - Report to Shareholders 2003 - Statement of Financial Performance for the year ended 30 June 2003
 

Statement of Financial Performance for the year ended 30 June 2003

  Group
2003
$M
Group
2002
$M

Interest income
11,528
10,455
Interest expense
6,502
5,745

Net interest income
5,026
4,710
Other income:
 
 
Revenue from sale of assets
128
718
Written down value of assets sold
(106)
(628)
Other
2,675
2,462

Net banking operating income
7,723
7,262
 
 
Funds management income including premiums
1,125
1,083
Investment revenue
8
(393)
Claims and policyholder liability expense
(91)
457

Net funds management operating income
1,042
1,147
 
 
Premiums and related revenue
1,011
866
Investment revenue
620
293
Claims and policyholder liability expense
(997)
(500)

Life insurance margin on services operating income
634
659
 
 
Net funds management and life insurance operating income
before appraisal value (reduction)/uplift
1,676
1,806

Total net operating income before appraisal value (reduction)/uplift
9,399
9,068
 
 
Charge for bad and doubtful debts
305
449
Operating expenses:
 
 
Comparable business
5,292
5,201
First time
259

5,551
5,201

Appraisal value (reduction)/uplift
(245)
477
Goodwill amortisation
(322)
(323)

Profit from ordinary activities before income tax
2,976
3,572
Income tax expense
958
916

Profit from ordinary activities after income tax
2,018
2,656
Outside equity interests in net profit
(6)
(1)

Net profit attributable to members of the Bank
2,012
2,655
Foreign currency translation adjustment
(129)
(146)
Revaluation of properties
3
(1)

Total valuation adjustments
(126)
(147)

Total changes in equity other than those resulting from
transactions with owners as owners
1,886
2,508

 
 
Cents
per share
Cents
per share

Earnings per share based on net profit distributable to members of the Bank    
Basic
157.4
209.6
Fully Diluted
157.3
209.3
Dividends per share attributable to shareholders of the Bank:
 
 
Ordinary shares
154
150
Preference shares (issued 6 April 2001)
1,019
970

 
 
$M
$M

Net Profit after Income Tax comprises  
 
Net Profit after Income Tax (“cash basis”)
2,579
2,501
Less Appraisal value (reduction)/uplift
(245)
477
Less Goodwill amortisation
(322)
(323)

Net Profit after Income Tax (“statutory basis”)
2,012
2,655