CBA has delivered a solid result that should boost its share price on the open and help claw back some of last week’s losses. CBA delivered a 4.6% rise in FY cash profit to $9.88bn which was in line with analyst expectations of $9.813bn. Its Net Interest Margin was also up 2.11%. EPS was also up, rising 3.6% to $5.74 per share. The highlight however was the bank’s announcement to sell its life insurance division CommInsure. The banks said “We are in discussions with third parties in relation to their potential interest in our life insurance businesses in Australia and New Zealand.” Here is a summary of the results: The bank’s common equity tier 1 capital (CET1) ratio came in at 10.1% which is lower than APRA’s 10.5% benchmark. All eyes however are on the money laundering…

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