The Commonwealth Bank of Australia (ASX: CBA) share price has made a resurgence back to pre-COVID levels. As the vaccine roll-out continues, economic activity picks up and confidence increases, what’s the outlook for the CBA share price?
Solid half-year results point to a cautious recovery
CBA’s half-year results came in ahead of market expectations for the six months ended 31 December 2020. The company delivered a 0.5% decline in operating income of $11,961 million, driven by COVID-19 impacts and a 10 basis point reduction in net interest margins to 2.01%.
Earnings were slightly lower on the prior corresponding period with cash net profit after tax from continuing operations down 10.8% to $3,886 million. The bank noted…
Warren Ruth is still early into his career as tech and digital marketing reporter but has already had his work published in many major publications including JoyStiq and Android Authority. In regards to academics, Warren earned a degree in business from CSUF. Warren has a passion for emerging technology and covers upcoming products and breakthroughs in science and tech.