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Commonwealth Bank posts record $10.25bn profit and reveals plan to clamp down on coal lending

The Guardian - Energy · Luca Ittimani · last updated

Australia’s biggest bank delivers bumper payout to shareholders as CBA vows to end lending to coal companies with no net zero plans

Commonwealth Bank has posted a record cash profit while announcing it will cut off lending to coal companies without net zero emissions plans.

Australia’s biggest bank recorded $10.25bn in annual cash profits for the year to June – a 4% lift on the previous year – and delivered a bumper $2.60 payout per share to shareholders.

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