Edition:
India

CBA Says Received Further Proceeds Of $865 Mln For Divestment Of Life Insurance Business


Wednesday, 1 Apr 2020 

April 1 (Reuters) - Commonwealth Bank of Australia ::RECEIVED FURTHER PROCEEDS OF ABOUT $865 MILLION UNDER REVISED TRANSACTION PATH FOR PLANNED DIVESTMENT OF CBA'S AUSTRALIAN LIFE INSURANCE BUSINESS.PROCEEDS BRING AGGREGATE PROCEEDS RECEIVED TO DATE TO $1.6 BILLION.PROCEEDS RESULT IN A PRO FORMA INCREASE TO GROUP'S CET 1 RATIO OF ABOUT 19 BASIS POINTS ON AN APRA BASIS AS AT 31 DEC 2019.STEPS TOWARDS COMPLETION OF DIVESTMENT OF COMMINSURE LIFE CONTINUE TO BE PROGRESSED IN LINE WITH PREVIOUS ANNOUNCEMENTS.