Its operating income grew 8 per cent to $3.18b while its operating expenses only rose 3 per cent to A$1.179b resulting in a cost to income ratio of 37.1 per cent - down 190 basis points on the prior financial year.
Expenses were up due to higher staff and annual leave costs, investment spend and IT costs partly offset by a release of a provision relating to historical holiday pay.
Its funds management income fell 1 per cent to $149m.
Chief executive Vittoria Shortt's remuneration climbed to A$3.65 million (NZ$4.04m), up from A$2.87 million the previous year, according to CBA's annual report.
Shortt said in an environment where interest rates, inflation and cost of living were top of mind the bank was continuing to identify ways to help customers navigate uncertain times.
"We know the rising cost of living is keeping New Zealanders awake at night, but there is plenty we can do together to help take some pressure off. The first and most important step is to talk to us."
The bank had taken the step of removing, rebating or reducing fees, saving its personal and business customers almost $50m over the year, she said.
Reporting from its parent Commonwealth Bank of Australia show ASB's net promoter score placed it third with consumers but number one out of the major banks with businesses.
Its home lending business grew 6.3 per cent over the year - slightly below the system rate of 6.5 per cent.
While its business lending was well below the system at 6.1 per cent compared to 8.6 per cent.
CBA reported an 11 per cent jump in full-year cash profit to A$9.595b.
CBA will pay a final dividend of A$2.10. When added to the interim dividend of A$1.75, the total dividend is A$3.85, up A35¢ for the period and A2¢ higher than the market expected.
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