CBA completes final stage of regulatory overhaul

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CBA completes final stage of regulatory overhaul
CBA completes final stage of regulatory overhaul
Liezl Gambe
Written by Liezl Gambe
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The Commonwealth Bank of Australia (ASX:CBA) has delivered a robust half-year cash profit of $5.44 billion.

However, the financial result arrived alongside a reminder from independent monitors: the bank must remain "vigilant" to ensure the toxic cultural traits of its past do not resurface.

The findings, released by consultant Promontory, mark the final chapter of a remedial action plan sparked by a scathing 2018 APRA inquiry.

While the report confirms that CBA has successfully overhauled the "complacency" and "insularity" that once led to significant regulatory failures, it warns that maintaining this progress is an ongoing battle.

"Promontory's overall view is that the outcomes achieved have been sustained," the report stated, though it cautioned that the bank continues to navigate "inherent tensions" between aggressive growth and risk management.

At the time of reporting, Commonwealth Bank of Australia's share price was $171.26.

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