Commonwealth Bank of Australia : CBA's Capital Rises After APRA Review

By Alice Uribe

SYDNEY--Commonwealth Bank of Australia has seen the operational risk overlay imposed on it by regulators halved to 500 million Australian dollars (US$364.6 million) from A$1 billion, with immediate effect.

Australia's largest lender on Friday said it followed a review by the Australian Prudential Regulation Authority of progress made against the Prudential Inquiry Remedial Action Plan.

The capital boost lifts CBA's Common Equity Tier 1 capital by 17 basis points.

APRA released its CBA Prudential Inquiry Final Report in May 2018, and in June 2018 the Remedial Action Plan was approved by APRA. CBA reports publicly on progress twice a year.

Write to Alice Uribe at [e-mail]

(END) Dow Jones Newswires

11-19-20 1704ET