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Asia

Australian Shares Fall; CBA Fiscal H2 Cash Earnings, Total Net Operating Income Up

Australian shares fell on Wednesday, led downwards by the financial sector, as investors await US consumer price index data for a signal on a potential Federal Reserve rate hike.The S&P/ASX 200 Index rose 0.45%, or by 41.20 points, to close at 9,209.40.Brent crude futures ​rose to trade around $89 per barrel. The US military said it had disabled the steering gear of a cargo ship attempting to violate a blockade of Iranian ports.Spot gold rose nearly 0.5% to $4,387.03 per ounce.Overnight on Wall Street, the S&P 500 and the Dow Jones Industrial Average each fell 0.3%, while the Nasdaq Composite declined 0.6%.On the domestic front, the volume of job ads in Australia declined 0.4% in July from the previous month, driven mainly by weaker demand in New South Wales, according to a Seek employment report.In company news, Commonwealth Bank of Australia (ASX:CBA) logged AU$3.307 in cash earnings per share for the fiscal second-half, compared with AU$3.252 a year ago. For the six months ended June 30, total net operating income was AU$15.15 billion versus AU$15 billion previously.Suncorp Group (ASX:SUN) logged AU$0.7039 per share in cash earnings for the second half of fiscal 2026, compared with AU$0.5752 a year ago. For the six months ended June 30, gross written premium was AU$7.72 billion versus AU$7.52 billion previously.Lastly, AGL Energy (ASX:AGL) logged AU$0.937 in underlying earnings per diluted share for fiscal 2026, compared with AU$0.952 a year ago. For the 12 months ended June 30, revenue was AU$13.59 billion versus AU$14.34 billion previously.

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Commonwealth Bank of Australia Beats Cash Earnings Estimates Amid Cautious Economic Outlook
US Markets

Commonwealth Bank of Australia Beats Cash Earnings Estimates Amid Cautious Economic Outlook

Commonwealth Bank of Australia's (ASX:CBA) fiscal 2026 results topped analyst estimates, helped by growth in its lending and mortgage businesses, while the bank flagged concerns about a slowing economy amid weaker household demand.The bank reported fiscal 2026 cash earnings of AU$10.98 billion, up 7% year on year and 1% above Jefferies' estimate, supported by lower-than-expected bad debt expenses.The bank's total capital in the three months to June 30 came in at AU$108.83 billion, up from AU$103.7 billion a year ago, while its CET1 capital for the period was AU$62.76 billion, rising from AU$60.98 billion reported for the June 2025 quarter.The bank believes that inflation remains too high in Australia and expects it to gradually moderate as the economy slows, but noted that the economy has remained resilient despite global volatility.Higher interest rates were felt unevenly across households, with interest income on loans rising to AU$138.7 billion while interest expense on deposits and borrowings reached AU$164.5 billion.Spending among average CBA home loan customers has risen 15% over five years, compared with 24% for non-home loan customers, while CBA application volumes have softened 15% since May and are down 17% on the prior corresponding period.The bank's New Zealand unit, ASB, saw cash net profit after tax fall 2% in the year, as the unit's Chief Executive, Vittoria Shortt, said the Middle East conflict has caused "significant disruption.""While we expect economic momentum to return in the coming months, uncertainty remains the new norm, and we're cognizant that many New Zealanders will continue to face cost pressures," Shortt said.

ASX:CBA
Asia

Commonwealth Bank of Australia Beats Fiscal 2026 Cash Earnings Estimates Helped by Lower Bad Debt Expenses, Says Jefferies

Commonwealth Bank of Australia (ASX:CBA) reported fiscal 2026 cash earnings of AU$10.98 billion, up 7% year on year and 1% above Jefferies and Visible Alpha estimates, according to a Wednesday Jefferies note.The bank's total capital in the three months to June 30 came in at AU$108.83 billion, up from the AU$103.7 billion it reported in the year-ago period, it reported on Wednesday.The result was supported by lower-than-expected bad debt expenses, although credit provision coverage declined half on half, the note added.The investment firm said that business banking segment performed particularly strongly, while New Zealand operations were weaker due to net interest margin and foreign exchange pressures.Jefferies kept an underperform rating on Commonwealth Bank of Australia with a price target of AU$145.20.The bank's shares fell past 1% in recent Wednesday trade.

ASX:CBA
Asia

Sports Entertainment Group to Acquire New Zealand Audio Business for NZ$130 Million

Sports Entertainment Group (ASX:SEG) agreed to acquire all of the shares in New Zealand audio business MediaWorks Topco for an enterprise value of NZ$130 million, according to a Wednesday filing with the Australian bourse.The acquisition will be funded through existing cash reserves and an AU$87.6 million senior debt facility from the Commonwealth Bank of Australia (ASX:CBA), with completion targeted for Oct. 1, the filing said.The company is raising up to AU$11.7 million via share placement, with the ability to accept oversubscriptions, and plans to undertake a share purchase plan to partially repay the debt facility, per the filing.

ASX:CBAASX:SEG
Asia

Commonwealth Bank of Australia Says Higher Rates Lead to Home Loan Application Volumes Softening

Commonwealth Bank of Australia (ASX:CBA) said home loan application volumes have softened in the wake of higher rates, according to a Wednesday Australian bourse filing.The application volumes in the period from February to August fell 17% year over year, the lender said. They fell 15% in August since May.

ASX:CBA
Asia

ASX Preview: Australian Shares to Fall as Gold Slips Ahead of US Inflation Data; Commonwealth Bank of Australia Fiscal H2 Cash Earnings, Total Net Operating Income Up

Australian shares are poised to fall on Wednesday, tracking a softer gold price as investors await key US inflation data that could shape expectations for the Federal Reserve's policy path.Overnight, the S&P 500 and the Dow Jones Industrial Average each fell 0.3%, while the Nasdaq Composite declined 0.6%.In the macroeconomy, investors are eyeing Reserve Bank of Australia Assistant Governor Christopher Kent's speech on Thursday.In corporate news, Commonwealth Bank of Australia (ASX:CBA) reported Wednesday fiscal second-half cash earnings of AU$3.307 per share on total net operating income of AU$15.15 billion, compared with cash earnings of AU$3.252 on total net operating income of AU$15 billion a year earlier.Suncorp Group (ASX:SUN) reported Wednesday fiscal second-half cash earnings of AU$0.7039 per share on gross written premium of AU$7.72 billion, compared with cash earnings of AU$0.5752 on gross written premium of AU$7.52 billion a year earlier.Australia's benchmark index rose 0.2%, or 18 points, to close at 9,250.60 on Tuesday.

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Asia

Commonwealth Bank of Australia Total Capital, CET1 Capital Up Year-over-Year in June Quarter

Commonwealth Bank of Australia's (ASX:CBA) total capital and Common Equity Tier 1 (CET1) capital both increased year over year in the June quarter, according to a Wednesday Australian bourse filing.The bank's total capital in the three months to June 30 came in at AU$108.83 billion, up from the AU$103.7 billion it reported in the year-ago period.Its CET1 capital for the period clocked in at AU$62.76 billion, rising from AU$60.98 billion reported for the June 2025 quarter.Its Level 2 Group CET1 ratio for the March quarter was 12%, compared with a ratio of 12.3% in the prior-year period. It reported a liquidity coverage ratio of 132% for the quarter, compared with 133% in the previous quarter.

ASX:CBA
Asia

Commonwealth Bank of Australia Receives Two Shareholder Resolutions for Consideration at Annual Meeting

Commonwealth Bank of Australia (ASX:CBA) received two shareholder resolutions for consideration at its annual meeting on Oct. 14, according to a Wednesday filing with the Australian bourse.One resolution calls on the bank to disclose a pathway to deforestation-free finance in line with credible frameworks such as the Accountability Framework initiative.The second resolution seeks an amendment to the company's constitution with the addition of a sub-clause that would allow shareholders to make requests "about the way in which a power of the company partially or exclusively vested in the directors has been or should be exercised."

ASX:CBA
Asia

Commonwealth Bank of Australia Fiscal H2 Cash Earnings, Total Net Operating Income Up

Commonwealth Bank of Australia (ASX:CBA) logged AU$3.307 in cash earnings per share for the fiscal second-half, compared with AU$3.252 a year ago, a Wednesday filing showed.Analysts polled by FactSet expected earnings of AU$3.21.For the six months ended June 30, total net operating income was AU$15.15 billion versus AU$15 billion previously, the Australia-listed bank added.Analysts surveyed by FactSet expected AU$15.19 billion.The board declared a final dividend of AU$2.70 per share, up from AU$2.60 a year earlier, payable Sept. 29 to shareholders on record as of Aug. 20.

ASX:CBA
Asia

Commonwealth Bank of Australia Launches AU$50 Cashback Offer on Account Opening

Commonwealth Bank of Australia (ASX:CBA) launched a AU$50 cashback offer for customers who open their first CommBank Everyday Smart Access Account online or in a branch between July 10 and Sept. 18, the bank's website showed.Customers can spend a minimum of AU$10 in one transaction using the CommBank Debit Mastercard at selected merchants to receive AU$10 cashback per merchant, for up to AU$50 cashback in total across all merchants.The offer has a limit of one redemption per merchant, per customer, the bank said.The offer excludes joint and Everyday Offset accounts, and customers must not have held a CommBank Credit Mastercard, CommBank Debit Mastercard, CommBank Business Credit Mastercard, or CommBank StepPay digital card at any time after Dec. 31 2019, to be eligible for the cashback, the bank added.

ASX:CBA
Asia

ASX Midday Sector Update: Healthcare Stocks Advance, Financial Sector Struggles

Healthcare stocks advanced more than 1% at midday Monday.CSL (ASX:CSL) gained 1% in recent trade.On the flip side, the financial sector struggled, shedding more than 2%.Commonwealth Bank of Australia (ASX:CBA) shares fell past 2% in recent trade.

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Asia

Commonwealth Bank of Australia Outlook Clouded by Housing Market Slowdown Concerns, Jefferies Says

Commonwealth Bank of Australia's (ASX:CBA) outlook is becoming "increasingly uncertain" as an expected housing slowdown and emerging funding challenges weigh on investor confidence, Jefferies said in a note on Tuesday.One of Australia's oldest banks, Commonwealth Bank of Australia, founded in 1911, is scheduled to report its fiscal year 2026 results on Aug. 12. The bank is expected to deliver 6% net profit growth, with stronger lending volumes offsetting pressure from margins, higher costs and rising bad debt charges.The brokerage estimates cash earnings of AU$10.86 billion, up 6% from a year ago, and in line with the Visible Alpha estimate.Jefferies said the market will be watching for updates on loan growth, as volumes are set to ease from the elevated levels seen in fiscal 2026 due to softer housing demand.Benefits from deposit pricing, which have supported profit margins, are also expected to fade in fiscal 2027. Commentary on the sustainability of deposit spreads, the impact of further rate cuts and competition for customer deposits will also be of significance.The brokerage maintained its underperform rating on Commonwealth Bank of Australia and raised its price target to AU$145.20 from AU$144.40.

ASX:CBA
Asia

Australian Finance Group Says Commonwealth Bank Ceases to Be a Substantial Holder

Australian Finance Group (ASX:AFG) said Commonwealth Bank of Australia (ASX:CBA) and its related bodies corporate ceased to be substantial holders of the firm, effective July 31, according to a Tuesday Australian bourse filing.The bank's shares climbed 1% in recent trading on Tuesday.

ASX:AFGASX:CBA
Asia

Commonwealth Bank of Australia Aligns Home Loan Arrears Methodologies Across Group

Commonwealth Bank of Australia (ASX:CBA) aligned its home loan arrears methodologies across the company during the half-year ended June 30, according to a Tuesday filing with the Australian bourse.The bank said the changes to financial reporting, which impact comparatives for the second half of fiscal 2025 and the first half of fiscal 2026, relate mainly to the consistent inclusion of unpaid fees and removal of low materiality thresholds, which caused an increase in reported early-stage loan arrears.The changes do not impact home loan arrears more than 90 days past due, non-performing exposures, provisioning, or regulatory capital, the company said.Commonwealth Bank of Australia plans to release its full fiscal year results on Aug. 12.

ASX:CBA
Asia

Market Chatter: New Zealand's FMA Warns Banks Over ASIC's Mortgage Offset Account Review, Says RNZ

New Zealand's Financial Markets Authority (FMA) warned banks to take notice of a review conducted by the Australian Securities and Investments Commission (ASIC), which found that banks failed to properly manage mortgage offset accounts in the two years through August 2025, according to a Friday report by Radio New Zealand (RNZ).The New Zealand regulator is urging banks with offset mortgage products to examine ASIC's findings and assess whether their own safeguards are strong enough to protect customers from similar harm, said Michael Hewes, director of deposit taking, insurance, advice, and credit at FMA, according to the report.During the two years through August 2025, banks paid more than AU$55 million in customer compensation for offset account failures, and further compensation is expected as the extent of the problem becomes clearer, the ASIC said Wednesday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:AMPASX:ANZASX:CBAASX:MQGASX:WBCNZE:ANZNZE:WBC
Asia

New Zealand Shares Fall; Freightways Group Appoints David Gibson as Chair

New Zealand shares ended lower on Thursday as Asian markets showed a broad-based decline amid the US Federal Reserve's decision to hold rates and Wednesday's Wall Street sell-off.The S&P/NZX 50 Index fell 1.53% or 213.89 points to close at 13,762.78.On Wednesday, the Nasdaq Composite fell 1.7%, the S&P500 declined 1.5%, and the Dow Jones lost 2.2%.The Federal Reserve held its policy rate steady in a divided decision that included three officials calling for policy tightening. The central bank's Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause.On the domestic front, the ANZ New Zealand Business Outlook rose to a net 56.1 in July, up from 36.6 in June, while expected own activity rose to 49.3 from 36.9, according to a report from ANZ Research.In corporate news, Freightways Group (NZE:FRW, ASX:FRW) appointed board member David Gibson as chair to succeed Mark Cairns, effective Thursday.

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Asia

ACCC Grants Australian Banks Further Interim Authorization for Proposed Joint Venture for Commercial Cash Supply

The Australian Competition and Consumer Commission (ACCC) said Thursday it granted further interim authorization to Australia and New Zealand Banking Group (ASX:ANZ, NZE:ANZ), Commonwealth Bank of Australia (ASX:CBA), National Australia Bank (ASX:NAB), National Australia Investment Capital, and Westpac Banking (ASX:WBC, NZE:WBC) to take further steps towards a proposed joint venture to deal with the supply of commercial cash in Australia.The further interim authorization authorizes the banks to agree and enter into, but not give effect to, various agreements, the regulator said. The authorization begins immediately and may be reviewed at any time.The banks sought authorization to establish a single joint cash pool and bailment structure via an incorporated operating entity for the supply of commercial cash in Australia. Under the proposal, each applicant would acquire a 25% shareholding in the entity and a 25% interest in the cash pool. The ACCC determined that the acquisitions may be put into effect on June 26.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

Australian Banks Investing in Technology to Address Mortgage Offset Account Failures, Banking Association Chief Says

Australian banks are taking measures to ensure the proper functioning of mortgage offset accounts, including investments in new technology platforms, Australian Banking Association CEO Simon Birmingham said on Wednesday.Birmingham's comments to the media followed an Australian Securities and Investments Commission (ASIC) report that found major banks failed to properly manage offset accounts in the two years through August 2025.During that period, banks paid more than AU$55 million in customer compensation for offset account failures, the ASIC said after reviewing the offset practices of eight banks, including Westpac Banking (ASX:WBC, NZE:WBC), ANZ Group Holdings (ASX:ANZ, NZE:ANZ), Commonwealth Bank of Australia (ASX:CBA), Macquarie Group (ASX:MQG), AMP's (ASX:AMP) AMP Bank, Credit Union Australia, HSBC Bank Australia, and ING Bank (Australia)."This report shows that in well over 99% of cases, mortgage offset accounts are working exactly [as] they should be, but it does demonstrate there are some failures," Birmingham said."It's a very small proportion of mistakes that have happened, and what ASIC's report shows is it's often due to manual system processes in isolated cases, or communications failures in some cases," Birmingham added.

ASX:AMPASX:ANZASX:CBAASX:MQGASX:WBCNZE:ANZNZE:WBC
Asia

ASX Midday Sector Update: Healthcare Stocks Lead Broad-Based Rally

Healthcare stocks jumped nearly 4%, leading a broad-based rally at midday Wednesday.CSL (ASX:CSL) gained almost 7% in recent trade following news that it will conduct clinical trial work to confirm the efficacy and safety of immunoglobulin manufactured using its Horizon 2 process.Meanwhile, the financial sector edged up nearly 1%.Commonwealth Bank (ASX:CBA) shares inched up in recent trade.

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Asia

Hillgrove Resources Appoints CBA as Tier-1 Banking Partner; Shares Up 6%

Hillgrove Resources (ASX:HGO) has appointed Commonwealth Bank of Australia (ASX:CBA) as its tier-1 banking partner after a competitive selection process, according to a Wednesday Australian bourse filing.CBA will issue a AU$6.6 million bank guarantee to the South Australian Government, replacing current security arrangements and backing the company's rehabilitation commitments, per the filing.The partnership also provides continued hedging support to manage risks, while creating potential opportunities for future debt financing as the company advances its growth strategy, the filing added.Hillgrove's shares rose by around 6% in Wednesday's trade, while CBA gained 1%.

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