Size matters as CBA scoops up deposits
Matt Comyn has turned Commonwealth Bank into a deposit-munching machine.
Matt Comyn has turned Commonwealth Bank into a deposit-munching machine.
Matt Comyn is confident the majority of under-pressure borrowers will restart making loan payments when the lender’s deferral periods end.
The ASX bounced from daily lows to finish down 0.1pc, as Commonwealth Bank, Seek and Transurban felt the sting of results disappointment.
Amid the biggest economic crisis since the Great Depression, CBA has earned $7.3bn.
A lower dividend and a wave of mortgage deferrals leaves CBA’s army of retail shareholders in a tight spot.
Matt Comyn has a secret agenda, for the Commonwealth Bank to replace NAB as the pre-eminent business bank in Australia.
The Commonwealth Bank’s cash profits have taken a hit as the impact of the coronavirus downturn ripples through the industry.
CBA annual profit declines 11.3% to $7.3bn as the bank declares its lowest dividend since 2006.
The banking sector’s consistent dividend flow has been seen as a kind of annuity, but the coronavirus will change that.
Commonwealth Bank led a financial rally with gains of 3.4pc and Kogan and Adairs hit records.
Australia’s banks are quietly taking an axe to interest rates paid on savings accounts.
Investors will be focused on CBA’s dividend payout and the bank’s loan loss provisions when profit results are handed down this week.
Baby Boomers are alone among the generations to suffer a fall in income through the COVID-19 crisis.
Commonwealth Bank’s financial advice remediation bill is edging closer to $1bn, with the announcement of a new $300m provision.
Bank shares jump as regulator eases its April clampdown, but APRA says banks should keep dividend payout ratios to below 50pc.
Recent events haven’t provided the best platform to launch a run for the ANZ chairman’s position.
Survey rates CBA the worst of the big four banks in its response to hardship and OpenPay the worst in Australia.
Risks are rising all around but the hunt for yield is well and truly on. Where does that leave bank investors used to generous dividends?
The bank regulator will relax some of the restrictions imposed on dividends paid by the financial sector, but still wants ‘prudence’.
Homeowners seek to lock in how much they will have to pay each month in the years ahead.
Original URL: https://www.theaustralian.com.au/topics/commonwealth-bank-of-australia/page/57