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Commonwealth Bank of Australia (CBA.AX)

CBA.AX on Australia Stock Exchange

23 Aug 2017
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Latest Key Developments (Source: Significant Developments)

Commonwealth Bank Of Australia comments on potential shareholder class action
12:08am EDT 

Aug 23 (Reuters) - Commonwealth Bank Of Australia -:Statement regarding potential shareholder class action.‍Commonwealth Bank has not been served with any legal proceedings​.Aware Maurice Blackburn and IMF Bentham announced they are investigating a potential shareholder class action against co.  Full Article

IMF Bentham says is investigating potential class action against CBA
Tuesday, 22 Aug 2017 07:41pm EDT 

Aug 23 (Reuters) - IMF Bentham Ltd :It is investigating a new potential Australian shareholder class action against Commonwealth Bank Of Australia..Claims being investigated relate to alleged misleading or deceptive conduct by CBA.Claims being investigated relate to alleged deceptive conduct by CBA of its continuous disclosure obligations in relation to recent claims by AUSTRAC.  Full Article

Commonwealth Bank Of Australia updates on customer and employee review and remediation actions
Monday, 14 Aug 2017 02:54am EDT 

Aug 14 (Reuters) - Commonwealth Bank Of Australia :Commonwealth bank provides an update on customer and employee review and remediation actions.Review of superannuation payments is ongoing; first tranche estimated to be $16.7 million plus interest.Commonwealth Bank Of Australia says will be contacting 36,000 current and former employees eligible for additional payments, after review of superannuation payments.Agreed with asic to refund credit card plus insurance customers who were not eligible to receive these benefits for period between 2011 and 2015.Identified that some customers who had purchased home loan protection insurance had been charged an incorrect premium amount.Expects refunds to total about $10 million for credit card plus insurance customers.Asic was notified about an issue affecting some insurance products.Refunded about 9,600 customers about $586,000 including interest for home loan protection insurance who were charged incorrect amounts.Reviewed 4.5 million disputed card transactions going back to 2009 & will shortly commence refunding approximately $5 million.Number of customers impacted by issue of insurance products is expected to be below 1,000.  Full Article

Commonwealth Bank Of Australia says FY cash NPAT $9.88 bln, up 4.6 pct
Tuesday, 8 Aug 2017 05:30pm EDT 

Aug 9 (Reuters) - Commonwealth Bank Of Australia -:Target a full year dividend payout ratio of 70% to 80%.‍Final dividend 230 cents per share​.FY cash NPAT $9,881 million, up 4.6%.FY net interest margin 2.11% ‍​."Headline indicators show that the australian economy remains sound overall, albeit variable".FY statutory NPAT $9,928m, up 7.6%.FY revenue from ordinary activities $ 44,949 million up 1 percent."Cyclical investment in mining and construction has underpinned our economy for some time".FY net interest income increased 4% to $17,600 million‍​."Global caution remains high due to geopolitical change and less expansionist monetary policy".As at year end June 30 2017, common equity tier 1 (cet1) capital ratio was 10.1 percent on an APRA basis.FY loan impairment expense down 12.8 percent ‍​.  Full Article

Commonwealth Bank Of Australia says will file statement of defence against AUSTRAC's claim
Thursday, 3 Aug 2017 10:09pm EDT 

Aug 4 (Reuters) - Commonwealth Bank Of Australia :CBA response to media reports on AUSTRAC civil proceedings cba.ax.Are currently reviewing AUSTRAC's claim and will file a statement of defence.Notes media coverage of civil penalty proceedings initiated by AUSTRAC.  Full Article

Commonwealth Bank of Australia says it is well positioned to meet new capital benchmark
Tuesday, 18 Jul 2017 09:25pm EDT 

July 19 (Reuters) - Commonwealth Bank Of Australia :acknowledges release of australian prudential regulation authority's (apra) information paper.is well positioned to meet new capital benchmark..  Full Article

Moody's downgraded baseline credit assessments, long-term ratings of 12 Australian banks
Monday, 19 Jun 2017 04:05am EDT 

June 19 (Reuters) - Moody's: :Moody's takes action on Australian banks.Moody's - Downgraded baseline credit assessments, long-term ratings and counterparty risk assessments of 12 Australian banks and affiliates.Moody's - Downgrade of Australian banks reflect elevated risks in household sector which heighten sensitivity of banks credit profiles to adverse shock.Moody's- long-term ratings of Australia's four major banks, ANZ, CBA, NAB and Westpac, downgraded to Aa3 from Aa2, their BCAs downgraded to a2 from a1.  Full Article

Commonwealth Bank Of Australia updates on impact of bank levy
Monday, 22 May 2017 02:31am EDT 

May 22 (Reuters) - Commonwealth Bank of Australia ::"We estimate that levy will amount to approximately $315 million per annum, $220 million after tax".Updates on impact of bank levy.  Full Article

Moody's say Australian bank performance steady, but latent risks rising in household sector
Wednesday, 17 May 2017 01:21am EDT 

May 17 (Reuters) - Moody's ::Australian bank performance steady, but latent risks rising in household sector.Increasing household leverage and low wage growth, are increasing Australia's major banks' sensitivity to external shocks.On Australian banks, expects profit growth to moderate, as well as the potential for rising credit costs and slower credit growth.Australian budget in may includes number of initiatives that, if implemented, will place incremental pressure on banks' profit growth.Major Australian banks well positioned to meet net stable funding ratio set by australian prudential regulation authority coming into effect on Jan 1.  Full Article

Fitch says Aussie bank results show profit pressures, rising capital
Tuesday, 9 May 2017 03:36am EDT 

May 9 (Reuters) - :Fitch - Aussie bank results show profit pressures, rising capital.Fitch on Aussie banks- further increases in capital have put them in strong position to cope with tighter requirements likely to be announced later this year.Fitch - major Aussie banks continue to position themselves to meet additional capital requirements that are likely to soon be introduced by APRA.Fitch - Aussie banks also well-prepared for introduction of net stable funding ratio (NSFR) framework in January 2018.  Full Article

Australia's CBA faces huge class action over money laundering disclosures

SYDNEY, Aug 23 A law firm threatened on Wednesday to file a class action suit against Commonwealth Bank of Australia for allegedly failing to disclose that it was facing money-laundering charges, in the latest headache for Australia's biggest listed company.