Australia's CBA FY14 cash profit climbs 12 pct to record

SYDNEY Tue Aug 12, 2014 7:01pm EDT

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SYDNEY Aug 13 (Reuters) - Commonwealth Bank of Australia (CBA), the country's top lender by market value, said its full-year cash profit met expectations, rising about 12 percent to a record high on strong lending growth and lower bad debt provisions.

CBA said cash profit rose to A$8.68 billion ($7.99 billion)in the year to June 30, compared with a consensus forecast of A$.62 billion from 10 analysts polled by Reuters and up from A$7.76 billion a year ago.

It declared a final dividend of A$2.18 per share, taking its full-year dividend payout to A$4.01 a share, a 10 percent rise. ($1 = 1.0794 Australian dollar) (Reporting by Swati Pandey; editing by G Crosse, Edwina Gibbs)