Commonwealth Bank is expected to shower investors with a larger than usual payout on Wednesday as it delivers a record annual profit, close to $10.3 billion, driven by market share gains in business banking.
CBA, which remains the dominant mortgage lender, has grown its share of business loans – a target area for chief executive Matt Comyn – to 18.9 per cent. That was up 0.53 percentage points over year to June 30, as rival National Australia Bank slipped by 0.19 percentage points to 21.69 per cent, according to the latest figures released by the prudential regulator.
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