Bright start to 2004, CBA says
(31st October 2003 – Australia) Commonwealth Bank has told shareholders the bank is tracking well so far in 2004 and expects to deliver EPS growth of more than ten percent over the next three years.
Speaking at the bank’s annual general meeting, CBA chairman John Ralph said there was sufficient momentum in the economy to support underlying growth for the full year, though the rate could slow over the second half.
"If current market conditions continue for the remainder of the half year, growth in underlying cash earnings could be sufficient to offset transformation costs incurred in the half year," Ralph said.
CBA chief executive David Murray told shareholders there was a large "financial prize" to be gained from the bank’s new customer service transformation.
"If current market conditions continue for the remainder of the half year, growth in underlying cash earnings could be sufficient to offset transformation costs incurred in the half year," Ralph said.
CBA chief executive David Murray told shareholders there was a large "financial prize" to be gained from the bank’s new customer service transformation.
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