Fiji loss for Commonwealth Bank

The Commonwealth Bank of Australia has recorded a $30 million loss on the sale of Colonial National Bank to Bank South Pacific at the end of 2009, CBA’s full year financials show.

Fiji produced $6 million in cash net profit for CBA over the five months to the date of sale to the PNG-based BSP.
 
One other curious loss noted by CBA, though not given a value, is a loss on disposal of the bank’s share in Visa.
 
Many banks sold their Visa shares at a profit in the months following the listing of the payments provider in early 2008.

Source: Pacnews