Commonwealth Bank of Australia said on Wednesday it would now fetch more from the sale of its stake in a Chinese life insurer to Japan's Mitsui Sumitomo Insurance Co after China's banking regulator gave the nod.
It expects an increase of about A$840 million in its post-tax gain in the first half from the BoCommLife stake sale and other divestments.
Australia's largest bank said the final sale proceeds from the sale of its 37.5% stake in BoCommLife, an insurer also owned by Bank of Communications Co Ltd, is now expected at A$886 million.
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Chris Reese)
