January 17, 2019 / 11:27 PM / a month ago

Commonwealth Bank of Australia sees half-year profit charge of $121 million

A view of a Commonwealth Bank of Australia branch in Sydney, Australia, April 18, 2018. REUTERS/Edgar Su

(Reuters) - Commonwealth Bank of Australia (CBA.AX) said on Friday that it expects non-cash losses of about A$169 million ($121.4 million) to be recorded in its interim results, arising from the disposal of assets as well as currency fluctuations.

Australia’s largest lender said in a statement that it had also made a number of changes to its operating model. The changes would be reflected in the presentation of some of the bank’s income statements, and would not affect its cash net profit after tax.

The bank said it would report its results for the six months to Dec. 31 on Feb. 6.

Reporting by Ambar Warrick in Bengaluru; Editing by Stephen Coates

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