Commonwealth Bank (CBA) notes speculation in this morning’s Australian Financial Review regarding the AUSTRAC proceedings and the potential costs to CBA.  

As part of CBA’s accounts preparation process, the CBA Board will consider a range of factors, including any potential penalty, in determining whether it is appropriate to recognise a provision in accordance with the requirements of Australian Accounting Standards in the half year financial statements in relation to the proceedings. The recognition of any provision in the half year financial statements is subject to finalisation of CBA’s half year financial statements, auditor processes and CBA Board approval. CBA’s half year results and financial report will be released on 7 February 2018.