Commonwealth Bank of Australia has delivered a jump in half-year profit as it benefited from rising interest rates and stronger business lending growth.
The country's biggest lender on Wednesday reported a cash profit of $5.15 billion for the six months to December 31, a 9.0 per cent increase from the year earlier, and in line with analyst estimates.
Its statutory bottom-line result was up 10 per cent to $5.22 billion.
It allowed the lender to lift fully franked interim dividend by 20 per cent to $2.10 per share.
CBA will also increase its on-market share buyback by an additional $1 billion.
Chief executive Matt Comyn attributed the stronger result to volume growth and a recovery in margins as interest rates rose from historic lows.
"Our continued balance sheet strength and capital position creates flexibility to support our customers and manage potential economic headwinds, while delivering predictable and sustainable returns to shareholders," he said in a statement.
