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The Commonwealth Bank (“the Group”) today advised that its unaudited cash earnings1 for the three months ended 30 September 2014 (“the quarter”) were approximately $2.3 billion. Statutory net profit on an unaudited basis for the same period was approximately $2.4 billion, with non-cash items treated on a consistent basis to prior periods.
Key outcomes for the quarter are summarised below:
1 Cash earnings is used by Management to present a clear view of the Group’s underlying operating results, excluding a number of items that introduce volatility and/or one-off distortions of the Group’s current period performance. These items are calculated consistently period on period and do not discriminate between positive and negative adjustments. For a more detailed description of these items, please refer to page 15 of the Group’s 30 June 2014 profit announcement.
2 The Group has revised its international measure of CET1 to align to the August 2014 Australian Bankers Association commissioned PwC report.