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CBA - Commonwealth Bank of Australia

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CBA ditches mortgage cashbacks as competition hits profits

Commonwealth Bank chief executive Matt Comyn says the bank is striking a balance between chasing growth and preserving shareholder returns.
www.smh.com.au

Commonwealth Bank has reported third quarter profits of $2.6 billion, an increase of 10 per cent compared with a year earlier, but indicated its earnings growth is slowing in the face of stiff competition.
CBA, the country’s biggest bank, on Tuesday said its unaudited cash earnings of $2.6 billion in the three months to March were 10 per cent higher than the same period last year, but 1 per cent higher than the quarter average for the December half.
 
Good morning
Its a worry!!!
Thousands of Commonwealth Bank customers have been locked out of their accounts, with the bank 'urgently investigating' issues affecting its online services.

More than 3000 people across the country have reported issues with Commonwealth Bank services since 7.30am according to DownDetector, with app users greeted with an error message stating "current balance unavailable, we’ll show your balance from the last time you logged on." Customers trying to access the bank's desktop webpage meanwhile are told, “sorry, something’s gone wrong."

Users on social media are reporting being unable to pay for petrol or groceries.

"We're aware some customers are experiencing difficulties accessing some our services and we are urgently investigating," a CBA spokesperson says in a statement. “We are sorry for the inconvenience and thank you for your patience. “Our call centres are experiencing high volumes of customer enquiries at the moment due to this incident and there are longer than usual wait times."
 
Sometimes it pays to have accounts at different banks, when CBA fails, use the NAB card and vice versa.
mick
 
• Final dividend of $2.40 per share, fully franked, taking the total dividend for the year to $4.50 per share.


.
?????
 
CBA will probably be "punished" today for this transgression:
reported a net interest margin of 2.07 per cent, down 5 basis points on the half year
Click to expand...

However, I lent them $5.40 when the were getting the business up and running, and this year they've paid me $4.50 back, with the likelihood of a similar amount next year.
 
Dona Ferentes said:
• Final dividend of $2.40 per share, fully franked, taking the total dividend for the year to $4.50 per share.

View attachment 160713
.
?????
Click to expand...
Net Interest margin sitting at 2.07%.
Just above the 20 year average, but down from higher values.
From The Global Economy
Mick
 
From today's AFR :

12 million Aussies with super accounts , will soon receive $ 2.4 Billion from CBA's earnings of the past year.
Who in their right mind could complain about that ?
You guessed it ! Only our little friends , the Greens . Their unhinged housing spokesman calls the bank's profit..." obscene "
Maybe he dreams of the Italian government's brain fart to hit their banks with a 40% windfall tax ?
Seemed like a good idea following on from Spain's similar move , last week . However they had to back down partly , after a $ 10 Billion wipeout of bank stocks on the sharemarket.
 
The Greens, the Loon Brigade, as I prefer to call them.Can't really rememberwhen they made any sense about much.
 
Good evening
It has been reported this evening (04/10/23) that the Commonwealth Bank will be forced to offer more competitive mortgages to halt a two-month slide in market share, the first time in two decades that CBA has recorded an overall contraction in its home loan book in consecutive months.

Official data released by the prudential regulator shows CBA’s home loan lending to owner occupiers, the most hotly contested part of the market, had fallen to $363 billion at the end of August. This was down from $364 billion in July, which was down on $366 billion in June.

Have a very nice night.

Kind regards
rcw1
 
it doesn't sound like much until you factor in inflation

( and then wonder if the momentum is gone )

so the next question is .... is the CBA losing market share ( and that answer might be NO , the trend is widespread )
 
rcw1 said:
...Commonwealth Bank will be forced to offer more competitive mortgages to halt a two-month slide in market share, the first time in two decades that CBA has recorded an overall contraction in its home loan book in consecutive months.
Click to expand...
... but it went on to say ...
CBA’s performance is largely driven by price, according to mortgage brokers. The bank has been maintaining average pricing 0.25 percentage higher than Westpac for several months on its standard variable interest rates, according to market sources.

This has allowed Westpac – which has had the lowest offers in the market – to take customers from CBA, whose share has slipped from 25.7 per cent in May to just under 25.4 per cent, while Westpac is up to 21.4 per cent ...plus Macquarie has been building share by having a fast response to turn around applications.

.
so I'd read it that CBA isn't doing too badly. Always a juggle between market share and margins
 
GreatPig said:
all it needed was a drop down through the support line at around $30.80 and that would be it. Seems to have done that now, with the current price being $29.77.
Click to expand...
and coming up to two decades later....
looks like an ATH atm.
and with a $186 billion market cap
 
and a 20 bagger since the float, in dollar terms. With all those scrumptious twice yearly dividends.

HSF
 
Dona Ferentes said:
and a 20 bagger since the float, in dollar terms. With all those scrumptious twice yearly dividends.

HSF
Click to expand...
Including dividends it’s a 15%+ compounded return since float, pretty solid.

Hard to believe you could lose money on such a stock, but some people that let fear get the better of them certainly have.

But no one that bought at any time through to now and held, has lost money.
 
I agree with @Value Collector and @Dona Ferentes. CBA is a solid share far outpacing its fellows in the banking and other sectors.

CBA is one of my picks in the ASF 2024 Year Competition and should perform well as we avoid a recession and the silly season in property prices continues. As well as banking and brokerage, it is a fundie, Property player, market maker and godknows everything else financial and may get tipped along this year by "those damn forners" laying small to medium side bets with their winnings due to its comparatively low price in $USD.

The chart is quite green over the last month and it has gained over 90% in price alone since the beginning of the plague.




gg
 
Just a post to be in the run for winning the 2024 Competition.

Already CBA is showing a tasty 1.5% gain for me in the competition which is not to be sniffed at. Recently 1.5% was the going rate for a term deposit, so if that compounds every 19 days until the end of this year it will be a tasty percentage ( someone else work it out ) for me.

CBA is a bank. A very big bank. And its share price seems well set about $110 or over.

gg
 
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