Proven business model results in sustained profitability

Press Releases Leave a Comment

Commonwealth Bank today reported unaudited total profit of $57.4 million for 2016. Total assets climbed to $1.6 billion at December 31, 2016. Earnings closely paralleled those of 2015 showing only a 0.7% decline. Total assets were up 4.8% over 2015.

Announcement of the Bank’s yearend earnings was made by Executive Chairman William B. Sands, Jr. who noted, “Through continued reinforcement of the Bank’s longstanding business model coupled with a conservative risk assessment process and a sound credit administration program, we were able to effectively weather the economic headwinds experienced during 2016.”


Leave a Reply

Your email address will not be published. Required fields are marked *