67 stories mentioning ASX:CBAUpdated 6h ago
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Karoon Energy (ASX:KAR) received notice that Commonwealth Bank of Australia (ASX:CBA) and its affiliates became a substantial holder of the company on Wednesday, according to a Thursday filing with the Australian bourse.Commonwealth Bank of Australia now owns 35.9 million shares in the company, representing a 5.03% voting power, the filing said.Karoon's shares rose past 2% in recent Thursday trade.
The Australian Prudential Regulation Authority (APRA) on Thursday called on the financial sector to enhance its management of AI-related risks, warning that information security practices are struggling to keep up with the speed of the technology's adoption.In a letter to the industry, the regulator outlined the findings of a review it launched last year, noting that the growing use of advanced AI is creating multiple new financial and operational vulnerabilities for banks, insurers, and superannuation trustees."Frontier AI models such as Anthropic's Claude Mythos, which could enhance the discovery of vulnerabilities by bad actors, are expected to further increase the probability, speed, and scale of cyber attacks," APRA said.The regulator found that financial corporates have a high interest in the potential benefits of AI usage, but in many cases lack the technical knowledge to effectively manage the associated risks.The APRA is not proposing to introduce additional requirements at this stage but expects to see a "significant improvement" in how the financial sector approaches AI-related risk management and governance.
HUB24 (ASX:HUB) said the Commonwealth Bank of Australia (ASX:CBA) and its related entities became a substantial holder in the company on April 24 with a stake of 5.02% or 4.1 million shares, according to a Tuesday Australian bourse filing.
Commonwealth Bank of Australia (ASX:CBA) has launched a new agentic artificial intelligence (AI) system that continuously analyzes payments data to identify emerging fraud patterns and propose real-time detection rules, strengthening its ability to intercept scams faster while maintaining human oversight, according to a Friday statement by the bank.The system leverages the bank's wider AI infrastructure, which analyzes over 80 million signals and processes about 20 million payments daily, enabling it to issue over 40,000 proactive fraud alerts to customers each day.The initiative, part of the bank's AU$1 billion annual security investment, has already reduced fraud losses by over 20% in the early year and helped generate or update around three-quarters of card fraud rules.The bank's shares fell 1% in recent Friday trade.
Australian banks support the roll-out of interest-free loans to businesses through the government's AU$1 billion Economic Resilience Program under the National Reconstruction Fund, the Australian Banking Association said in a statement on Monday.Businesses in identified priority sectors with an annual turnover of AU$100 million or less can secure a zero-interest loan of up to AU$5 million under the program, the banking group said.Banks participating in the program include the Commonwealth Bank of Australia (ASX:CBA), National Australia Bank (ASX:NAB), Westpac Banking (ASX:WBC, NZE:WBC), and ANZ Group (ASX:ANZ, NZE:ANZ), per the statement.Commonwealth Bank shares fell nearly 1% in morning trade in Australia, while National Australia Bank shares were down past 3%.Meanwhile, Westpac Banking and ANZ Group shares fell nearly 1% in recent trade in New Zealand.
Australia's banks took "decisive action" to disrupt the financial flows supporting the country's illicit tobacco trade after Austrac and the Illicit Tobacco and E-Cigarette (ITEC) Commissioner asked them to strengthen monitoring and reporting under their existing anti-money laundering and counter-terrorism financing obligations, the regulator said in a Tuesday statement.They asked lenders to scrutinize high-risk transactions linked to tobacco retailers, including cash deposits and EFTPOS activity, according to Austrac Chief Executive Brendan Thomas.Almost 90% of banks and authorized deposit taking institutions responded to Austrac's request, per the statement, and around 20% of the reporting entities exited high-risk customers with exposure to illicit tobacco, while others imposed enhanced controls and monitoring arrangements to manage identified risks.Commonwealth Bank of Australia's (ASX:CBA) shares gained about 1% in recent Tuesday trade, ANZ Group Holdings' (ASX:ANZ, NZE:ANZ) Australia shares shed 1%, and Westpac Banking's (ASX:WBC, NZE:WBC) Australia shares fell 2%.
Australia's wages rose 0.8% in the March quarter while employment added about 23,000 jobs, pointing to a steady but gradually cooling labor market with wage growth stabilizing near a new baseline, Commonwealth Bank of Australia (CBA) said in a Monday report.Wage growth has remained steady at 3.1% annually, with recent CBA Wage insights indicating that Australia's labor market is beginning to stabilize after an extended period of strong performance."The CBA Wage insights series continues to show wages growth is steady heading into a period of higher inflation and inflation expectations period due to the Middle East conflict," said Belinda Allen, head of Australian economics at Commonwealth Bank.The labor market remains relatively tight with unemployment at 4.3%, while wages growth has stabilized around 3.1% per year, and there is currently no clear response to tightening conditions, though some easing is expected as economic growth slows in 2026, Allen added.Wage growth across Australia remains uneven by region, with Western Australia leading at 3.9% year-on-year in March, while Victoria and Tasmania lag behind amid a softening trend, and other states and territories recording moderate, steady growth.The bank stated that its internal data does not indicate a clear shift in trends for wages or employment, pointing to a broadly stable outlook despite elevated external risks and inflation expectations.
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