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Commonwealth Bank of Australia (CBA.AX)

CBA.AX on Australia Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Commonwealth Bank Of Australia says Chairman David Turner to retire
Tuesday, 11 Oct 2016 05:32pm EDT 

Commonwealth Bank Of Australia : Commonwealth Bank announces appointment of new chairman . Chairman David Turner will retire from board at end of December 2016 .He will be succeeded as chairman by current non-executive director Catherine Livingstone AO.  Full Article

ACCC continues review of banks’ application for authorisation to bargain with Apple
Thursday, 18 Aug 2016 07:49pm EDT 

Commerce Apple pay platform : ACCC says continuing to assess applications for authorisation by Commonwealth Bank of Australia, Westpac Banking Corporation, National Australia Bank and Bendigo and Adelaide Bank . ACCC says the accc has considered interim authorisation within a short timeframe at the request of the applicants . Australian competition and consumer commission says expect to release a draft decision in October 2016 .  Full Article

Commonwealth Bank of Australia comments on Moody's outlook for Australia banks
Thursday, 18 Aug 2016 06:31pm EDT 

Commonwealth Bank of Australia : Moodys outlook announcement . Says Commonwealth Bank's short-term ratings have not changed . Long-term senior unsecured rating has been affirmed at AA2 by Moody's, but moved from stable outlook to negative outlook .  Full Article

Commonwealth Bank of Australia posts statutory NPAT of $9.23 billion
Tuesday, 9 Aug 2016 06:27pm EDT 

Commonwealth Bank of Australia : 2016 annual results profit announcement . FY revenue from ordinary activities $44.38 billion down 2% . FY statutory net profit after tax (NPAT) up 2% to $9.23 billion . Says fully franked final dividend of $2.22 per share . FY net interest income $16.94 billion versus $15.83 billion last year . FY common equity tier 1 (CET1) capital ratio of 10.6% on an APRA basis, up 150 basis points . "At CBA, we are cognisant of the combined impact of weaker demand, strong competition and increasing regulation" . "Remain positive about Australia's economic prospects" . "On-going economic strength will require a lift in the low rates of nominal growth" . FY underlying net profit after tax $9.35 billion versus $8.99 billion . Income growth inside and outside Australia remains weak" . "Expects future tax payments will generate sufficient franking credits for bank to be able to continue to fully frank future dividend payments" . "On-going global economic and political uncertainty this makes households and businesses cautious" . Says FY net interest margin down 2 basis points to 2.07 percent . "APRA is expected to consult further with the industry on the FSI recommendations during 2017" . "Global volatility and regulation have meant that funding costs have moved higher in the second half of the year" . Expects drp for final dividend for year will be satisfied by issue of shares of approximately $628 million.  Full Article

Commonwealth Bank of Australia appoints Mary Padbury as non-executive director
Monday, 13 Jun 2016 09:06pm EDT 

Commonwealth Bank of Australia : Commonwealth Bank appoints a new non-executive director . Appointment of Mary Padbury as an independent non-executive director to the bank's board, with immediate effect .  Full Article

Fitch: Major Aussie banks' dominance mitigates rising risks
Thursday, 26 May 2016 06:56pm EDT 

Fitch on Aussie Banks: Fitch: Major Aussie banks' dominance mitigates rising risks . Believes low interest rates and country's tax policies probably contributed to Australia's macroeconomic risks . Pockets of Australia's property market may encounter potential oversupply of new residential housing and hurt house-prices in those areas . 2015 to address regulatory pressure . Expect to maintain tightened underwriting criteria implemented from mid-2015 .Expects soft profit growth in 2016, mainly reflecting asset competition, low interest rates, moderate credit growth, rising impairment charges.  Full Article

Fitch affirms Australia's four major banks
Wednesday, 11 May 2016 01:51am EDT 

Fitch: Fitch affirms Australia's four major banks .Fitch - Affirmed ratings of Australia and New Zealand Banking Group, Commonwealth Bank of Australia, National Australia Bank & Westpac Banking Corp.  Full Article

Moody's says Australian major banks face increased challenges for rest of 2016
Tuesday, 10 May 2016 09:28pm EDT 

Moody's: Australian major banks face increased challenges for rest of 2016 . Australia's four major banks face a moderate weakening in asset quality and a slowdown in earnings growth over the rest of 2016 .Capital levels likely to remain stable or improve moderately.  Full Article

Commonwealth Bank of Australia reports quarterly cash earnings of about $2.3 bln
Sunday, 8 May 2016 06:30pm EDT 

Commonwealth Bank of Australia : Cba March quarter 2016 trading update . Qtrly statutory net profit on an unaudited basis for the same period was approximately $2.4 billion . Cash earnings for the three months ended 31 March 2016 ("the quarter") were approximately $2.3 billion . Group's Basel III common equity tier 1 (cet1) apra ratio was 10.0 per cent as at 31 March 2016 . Says loan impairment expense was higher in the quarter at $427 million . Says qtrly group net interest margin was largely unchanged from 1h16 . Qtrly operating income growth was similar to 1h16 . Says qtrly total provisions higher at $3.9 billion .  Full Article

Commonwealth Bank of Australia declares interim dividend
Tuesday, 9 Feb 2016 04:24pm EST 

Commonwealth Bank of Australia:Declared an interim dividend of $1.98 per share, unchanged from the 2015 interim dividend.The interim dividend, which will be fully franked, will be paid on 31 March 2016.The ex-dividend date is 16 February 2016.  Full Article

Fitch Rates CBA's AUD2.3bn Covered Bonds 'AAA'; Outlook Stable

(The following statement was released by the rating agency) SYDNEY, November 17 (Fitch) Fitch Ratings has assigned Commonwealth Bank of Australia's (CBA, AA-/Stable/F1+) Series 58 AUD700m, Series 59 AUD1.4bn and Series 60 AUD200m mortgage covered bonds ratings of 'AAA'. The Outlook is Stable. This brings the total outstanding issuance of covered bonds to AUD29.1bn. Series 58 and 60 are fixed-rate bonds and Series 59 is a floating-rate bond. Series 58 and 59 are due in November 2021 and Se