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NS Commonwealth Bank of Australia (ASX: CBA) The report Fiscal Year 2021 Revenue (FY21) Last week. Not only did CBA report significant growth and dividend increases, but major banks also announced a $ 6 billion off-market share repurchase.Correspondingly, the market will change the stock price of CBA New record best..
But how was it compared to its small, locally focused competitors? Bendigo and Adelaide Bank Limited (ASX: BEN)??
The two banks work in the same sector, Market first It’s very different. Therefore, comparing performance in 2009 can be a useful exercise.
So how did CBA’s revenue overlap with Australia’s fifth-largest retail bank’s revenue? Let’s take a look.
CBA stock price soars in FY2009 financial results
If you miss CBA revenue, the bank’s 2009 highlights are:
- Net profit after tax is about $ 8.84 billion, up 19.7% from FY2008
- Cash income worth about $ 8.65 billion, up 19.8%
- Net interest margin decreased by 4 basis points to 2.03%
- Common stock Tier 1 ratio rose 150 basis points to 13.1%
- $ 2 Full Frank Final dividend
- Off-market share buybacks expected to reduce the number of shares by about 3.5%
As you can see, 2009 was a successful time for CBA and stocks responded positively.
CBA’s share price rose 1.5% after the bank announced its earnings. Needless to say, intraday trading reached a record high of $ 109.03.
But since then it has fallen 8.2% to trade at $ 99.27.
How does this compare to Bendigo Bank’s FY21 earnings?
Bendigo Bank Fiscal year earnings are just A little after CBA. However, the results were not received by the warm welcome of the CBA.Bendigo Bank Stock Price 9.9% decline depending on revenue in FY2009..
Here is a sample of what Bendigo Bank reported:
- Legal net income of $ 524 million – up 172%
- After-tax cash revenue was $ 457.2 million, 51.5% higher than the previous corresponding period.
- Net interest margin decreased by 7 basis points to 2.26%
- Common Equity Tier 1 ratio increased 32 basis points to 9.57%
- 50 cents full Frank final dividend
As Motley Fool Australia reported at the time, Bendigo Bank recorded extraordinary growth, but its net margin and common stock tier ratio probably disappointed it.
CBA earnings also showed a decrease in net interest margin, which was a much smaller decrease.
Overall, both banks have reported significant increases in profits and returns, and the CBA is relatively behind.
CBA stock price snapshot
Despite the market’s enthusiastic welcome to CBA earnings, bank stocks have since fallen.
Currently, CBA’s share price is 18% higher than in early 2021. It has increased by 42% since this time last year.
How does CBA (ASX: CBA) revenue result compare to Bendigo Bank?
Source link How does CBA (ASX: CBA) revenue result compare to Bendigo Bank?