Australia's biggest bank, the Commonwealth, on Wednesday reported a five percent rise in full-year net profit to a record Aus$9.063 billion (US$6.62 billion).

The nation's largest company by market capitalisation said net profit for the year to June 30 rose from Aus$8.63 billion the previous year, broadly matching expectations.

Shares in the financial institution went into a trading halt as it announced a Aus$5 billion capital-raising to meet tougher regulatory requirements.