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%.

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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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