The country’s largest bank posted a record profit,but investors said the bank’s margins could be squeezed by stiff mortgage competition in the coming months.
The country’s biggest bank said it was important for banks to be generating profits so they could support the economy through a period of economic weakness.
Any board that ticks off a share buyback and a higher dividend payout ratio is sending a message that it is not concerned about the strength of its franchise.
CBA chief Matt Comyn and other executives at the country’s largest bank have seen their pay packets soar as a result of long-term bonus schemes.
The media empire has hired SEC Newgate to work the corridors of power in Canberra. So something big must be in the offing.
The head of the banking giant says there will be more pressure on households over the next six months,as past rate rises flow through to customers accounts.
As hype about artificial intelligence grips markets,bankers are looking at the benefits and costs of using the technology in their vast businesses.
Commonwealth Bank chief executive Matt Comyn says the bank is striking a balance between chasing growth and preserving shareholder returns.
Matt Comyn acknowledged the mounting pressure on households,saying “the cost of everything,including banking,is going to be on people’s minds this year”.
CBA says its deposit account interest rates are competitive as the consumer watchdog formally launches an inquiry into the deposit market.
While CBA chief Matt Comyn was basking in the glow of a bumper profit,RBA governor Philip Lowe was sweating it out under the glare of Senate estimates.