Shares of Commonwealth bank have opened 2% higher to $84.50 after reporting a record first-half profit of $4.9 billion.
The result was 6% higher than the previous record reported in the first half of last year. An interim fully franked dividend of $1.99 was declared, which was 1 cent higher than expected.
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Upside price momentum could be tempered as the bank announced net interest margin was lowered to 2.11% from 2.15% and their wealth management division saw a net profit drop of 34% compared to the same period last year.
