The group recorded $249 billion in funds under administration for the quarter.
CBA’s funds under administration benefited from combined platform net flows of $1 billion. However, the completion of a number of property transactions saw an $11 billion reduction.
A further $4 billion reduction is expected to follow in the fourth quarter.
In its quarterly results announcement to the ASX, CBA said “investment performance remained strong with 89 per cent of assets outperforming the benchmark over a three-year period”.
According to the results, insurance in force premiums increased by one per cent, while “lapse rates continued to improve in response to retention initiatives”.
CBA said it managed to maintain strong liquidity and funding positions during the quarter with “liquid assets standing at $144 billion, customer deposit funding at 63 per cent and the average tenor of the wholesale funding portfolio at 3.9 years”.
“The group has completed $29 billion of new term issuance in this financial year, largely meeting the required task for the 2014 financial year,” said CBA.
The bank said in the quarterly results that the Bank West division of CBA had performed well with “above system home lending, solid growth in deposit and good cost discipline”.
