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Commonwealth Bank (ASX:CBA) - CEO, Matt Comyn
CEO, Matt Comyn
Source: Commonwealth Bank of Australia
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  • Commonwealth Bank (CBA) says it wrapped up its $6 billion of market share buy-back, reporting strong demand for its offer
  • The big four bank acquired back 67.7 million CBA Shares – or roughly 3.8 per cent of the issued share capital in Commonwealth Bank
  • The price of the CBA buy-back shares is $88.62, representing a discount of 14 per cent, with the bank set to cancel all of the shares it bought
  • The ASX-20 lister says it had to scale back applications after strong demand, with shareholders to receive their payments from October 8
  • CBA shares are up 4.13 per cent at $104.21 during afternoon trade on Monday

Commonwealth Bank (CBA) has wrapped up its $6 billion off-market share buyback, reporting strong demand for its offer.

The big four bank acquired back 67.7 million CBA Shares – or roughly 3.8 per cent of the issued share capital in Commonwealth Bank.

CBA reported on Monday it had to scale back applications after strong demand from shareholders, with discounted offers given priority.

Shareholders sold their shares at a market price of just over $103, but Commbank ended up paying roughly $88.62 per share – representing a 14 per cent discount.

The ASX-20 lister plans to cancel all of the shares it bought back, with shareholders to receive their payments from Friday, October 8.

The bank first announced the $6 billion share buyback when it tabled its full-year results for the 2021 financial year.

CBA ended FY21 with a cash net profit after tax of $8.65 billion, an increase of 19.8 per cent compared to FY20’s profit.

Now the buy-back is complete, Commbank said it expects its ‘Common
Equity Tier 1 capital ratio’ to have reduced by around 133 basis points.

Shares in Commonwealth Bank were up 4.13 per cent at $104.21 during afternoon trade on Monday

CBA by the numbers
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