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February 15, 2012updated 04 Apr 2017 3:43pm

CBA posts rise in private banking income

Commonwealth Bank of Australias (CBA) income from private banking rose to A$128m ($137.3m) in the second half of 2011 a 4.9% year-on-year increase Net interest income at CBAs private banking division grew from $86m for the second half of 2010 compared to $91m for the same period in 2011, a rise of 5.8%. On the outlook for the 2012 calendar year, CBA group CEO Ian Narev said: With the outlook for the global economy remaining unpredictable, the Group plans to retain its existing conservative business settings

By Thomas McMahon

Commonwealth Bank of Australia’s (CBA) income from private banking rose to A$128m ($137.3m) in the second half of 2011 – a 4.9% year-on-year increase.

Net interest income at CBA’s private banking division grew from $86m for the second half of 2010 compared to $91m for the same period in 2011, a rise of 5.8%.

On the outlook for the 2012 calendar year, CBA group CEO Ian Narev said: “With the outlook for the global economy remaining unpredictable, the group plans to retain its existing conservative business settings. We welcome some positive signs of economic recovery but recognise that in times of uncertainty, banks must remain cautious.”

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