April 18 (Reuters) - Commonwealth Bank of Australia's (CBA) CBA.AX pension arm on Thursday said it plans to cut annual fees by about A$68 million ($48.81 million), in a move which follows calls from the country's banking regulator for reduced fees.
Colonial First State, which CBA plans to sell, said the fee cuts will likely pull down net profit after tax by about A$45 million in the 2020 financial year. ($1 = 1.3931 Australian dollars)