Meanwhile, mischief is still afoot in the world of superannuation. Australian super assets under management exceed $1.2 trillion. That’s the fourth largest pool of investable savings in the Western world.
November 11th, 2009 | Dan Denning | 1 comment | ContinuedAll Posts Tagged With: "cba"
CBA Sees More Bad Loans
Some days, there’s just nothing good to say about financial markets. Today is one of those days. But we’ll press on with the reckoning anyway. If the appetite for risk shrinks anymore, equity markets are going to starve, and national governments are going to be the spenders and lenders of last resort everywhere (those that survive, anyway).
November 13th, 2008 | Dan Denning | 11 comments | Continued
Commonwealth Bank (ASX: CBA) Nearly Doubles Bad Debts Over Last Year
Should you be annoyed or relieved that the Commonwealth Bank (ASX:CBA) reported a cash profit increase of 5% yesterday morning? It would be a refreshing result in an otherwise gloomy reporting period for Aussie financials. But the news might not actually be as good as it first looks.
August 14th, 2008 | Dan Denning | 3 comments | Continued
Australian Banks Must Increase Fees or Expand Loans to Remain Profitable
The news that’s all the rage today is Westpac’s (ASX: WBC) $19 billion bid for St. George (ASX: SGB). But in an age of rising interest rates and credit contraction, how will Australian banks remain profitable… Fees. If profitability on loans is declining (and it is), the banks could make it up charging you more fees. The growth rate in bank fees has actually declined, if you peruse the data from the Reserve Bank.
May 13th, 2008 | Dan Denning | 1 comment | Continued
Commonwealth Bank Profits Hit By Credit Crunch
It’s a dour day for the Commonwealth Bank of Australia. One of Australia’s four big banks, Commonwealth Bank (ASX: CBA) reported the slowest profit growth in three years today. Net income was up a modest 8% to A$2.37 billion. No one will have much sympathy for Commonwealth Bank. It raised interest rates on variable home loans by 30 basis points after the Reserve Bank’s last quarter point rise.
February 13th, 2008 | Dan Denning | 3 comments | Continued