Australia’s Commonwealth Bank reported an almost 20 percent rise in full-year profits on Wednesday, citing the country’s economic rebound after earlier pandemic lockdowns for the turnaround. The country’s largest lender said after-tax cash profits soared Aus$8.65 billion (US$6.35 billion) in the 12 months to June 30, as it cut provisions for loan losses after Australia’s economy recovered from a pandemic-induced recession. The bank said it would embark on an Aus$6 billion share buyback and increased its final shareholder dividend to Aus$2.00 a share. That was more than double the Aus$0.98 paid out in the same period last financial year, when profits fell due to the impact of the coronavirus crisis. But the latest result did not reflect a prolonged lockdown of Australia’s biggest city, Sydney, which is expected to last more than two months and estimated to cost the economy billions of dollars.