Commonwealth Bank
Federal Court dismisses disclosure class actions against CBA
The judge found even though Commonwealth Bank was aware of problems before AUSTRAC’s 2017 case, it had not breached continuous disclosure obligations.
- by Clancy Yeates
Latest
Opinion
Big four
CBA lowers the curtain on a profit season banks would rather forget
This season was not one that banks will be crowing about – all experienced a fall in profits and the themes were remarkably similar.
- by Elizabeth Knight
CBA boss says rates to stay on hold after another profit drop
The country’s biggest bank has reported its net profit slid by 3 per cent as CEO Matt Comyn said the strong immigration rate was helping the Australian economy remain resilient.
- by Millie Muroi
Banks expected to report more than $15b in half-year profits
Despite continued pressure on bank profit margins, analysts expect the big four to post relatively resilient earnings over the next two weeks.
- by Millie Muroi
Consumer stress finally starts to ease as shoppers cut their spending
Consumers have been struggling with high inflation, interest rates and tax for months – but there are signs the pressure on shoppers is moderating.
- by Shane Wright
Bank profit margin crunch to continue as customers shift deposits
Bank margins will continue to dwindle in the first half of this financial year, analysts say, as customers move their savings into higher-interest offerings.
- by Millie Muroi
Bank chiefs back calls for longer election cycles
The bosses of major banks have backed calls for federal elections to be held every four years instead of three to provide more certainty for business.
- by Millie Muroi
Opinion
Governance
This corporate queen is right – the era of board entitlement must end
Australia’s elite boards are still littered with time-served directors who are part of an entitlement club of similarly minded seat warmers.
- by Elizabeth Knight
Bank branch closures roll on as cash usage declines
More than 1400 bank branches have closed in Australia since 2017. But there are key reasons why it’s important for banks to maintain their physical presence.
- by Millie Muroi
Updated
World markets
CBA breaks $200b valuation as ASX hits record high
Commonwealth Bank’s market valuation has broken through $200 billion for the first time, as investor hopes of interest rate cuts sparked a rally in bank shares and lifted the market to a record high.
- by Millie Muroi
Bankwest to close all branches in digital-only move
Bankwest will disappear from WA streets by October as the Commonwealth Bank-owned brand closes 45 branches and switches to servicing its customers by digital means only.
- by Peter Milne