Chanticleer
Australia’s generational divide will weigh on CBA and the banks
Commonwealth Bank’s data shows younger Australians are bearing the brunt of higher interest rates. That’s a problem for the big four and the nation.
There are 146 slides in Commonwealth Bank’s full-year results presentation. But it’s always the first dozen or so that go to the message chief executive Matt Comyn wants to get across.
The market will focus on the outlook for CBA’s net interest margin – it slipped from 2.12 per cent to 2.07 per cent in the six months to June 30, and will keep falling as competition for deposits increases, and the banks fight over a shrinking number of new mortgages. But there are two bigger-picture stories that demand attention.
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