The Commonwealth Bank of Australia, one of the country's "big four" banks, posted record gains in the 12 months to 30 June 2013, starting with an 8 per cent rise in net profit to A$7.68 billion ($6.98 billion), compared to the previous year.

Cash earnings, excluding one-off costs, were up 10 per cent at A$7.81 billion. The retail banking arm saw a 13 per cent growth in profit for the financial year, wealth management climbed 9 per cent, while institutional banking increased by 10 per cent. Customer deposits, up A$26 billion to A$405 billion, now represent 63 per cent of the firm's total funding.

According to the firm, the positive performance happened despite "mixed business conditions," adding that this climate will likely continue in the next months. Areas where it will be focusing moving forward include the confidence level of Australian households and businesses, the impact of economic conditions in China and the value of the Australian dollar.

"We believe that the underlying conditions for our business in the 2014 financial year will be similar to those we have experienced in the recently completed year," said Ian Narev, chief executive.

CBA declared a total dividend of A$3.64 for the year, up 9 per cent on the prior year. The final dividend, payable on 3 October, was set at A$2.00.