Commonwealth Bank posts record $10.25bn profit and reveals plan to clamp down on coal lending

Australia’s biggest bank delivers bumper payout to shareholders as CBA vows to end lending to coal companies with no net zero plans

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Commonwealth Bank has posted a record cash profit while announcing it will cut off lending to coal companies without net zero emissions plans.

Australia’s biggest bank recorded $10.25bn in annual cash profits for the year to June – a 4% lift on the previous year – and delivered a bumper $2.60 payout per share to shareholders.