CBA pledges steady profit growth

Commonwealth Bank chairman John Ralph said in the bank’s annual report that CBA would report annual compound growth in cash earnings per share in excess of 10 per cent over the three years to the end of June 2006. He also said there should be growth in profitable market share for most of the bank's major product offerings, but did not say by how much. Meanwhile John Schubert will replace John Ralph as chairman of Commonwealth Bank at its annual meeting next month.