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Commonwealth Bank of Australia (CBA.AX)

CBA.AX on Australia Stock Exchange

81.05AUD
22 Nov 2017
Change (% chg)

$0.47 (+0.58%)
Prev Close
$80.58
Open
$81.00
Day's High
$81.33
Day's Low
$80.67
Volume
2,826,948
Avg. Vol
3,142,403
52-wk High
$87.74
52-wk Low
$73.20

Latest Key Developments (Source: Significant Developments)

Commonwealth Bank Of Australia says qtrly unaudited cash earnings about $2.65 bln
Tuesday, 7 Nov 2017 04:22pm EST 

Nov 8 (Reuters) - Commonwealth Bank Of Australia ::Unaudited statutory net profit of approximately $2.80 bln in quarter​.Unaudited cash earnings of approximately $2.65 bln in quarter, up 6 pct​.Group’s basel III common equity tier 1 APRA ratio ‍10.1 pct​ percent as at 30 Sept 2017."Group net interest margin was higher in quarter driven by asset repricing and reduced liquid asset balances"​.In the quarter, group troublesome and impaired assets were lower at $6.1​ billion.Qtrly loan impairment expenses down 20 pct​.  Full Article

Commonwealth Bank of Australia announces reclassification of statistical household lending data​
Thursday, 28 Sep 2017 10:13pm EDT 

Sept 29 (Reuters) - Commonwealth Bank Of Australia :‍following clarification of loan purpose reporting guidelines, certain data have been reclassified ​.reclassification relates to mortgage-secured household lending data for periods between oct 2015 and july 2017.reclassification has minimal impact on cba's reported volumes relative to apra's industry benchmark for investor mortgage growth.impacts of reclassification include restatement of loans to households: housing: owner-occupied from $278.4bn to $273.9bn​.impacts of reclassification include restatement of loans to households: housing: investment from $138.2bn to $134.8bn.  Full Article

Commonwealth Bank Of Australia says group executive, wealth management, Annabel Spring resigns
Wednesday, 20 Sep 2017 06:08pm EDT 

Sept 21 (Reuters) - Commonwealth Bank Of Australia ::Group Executive Wealth Management Annabel Spring has decided to leave group in December.Michael Venter appointed chief operating officer of wealth management with immediate effect​.Annabel Spring will continue to lead wealth management businesses, divestiture, & strategic review until end of the year.  Full Article

AIA Group ‍to acquire Commonwealth Bank of Australia's life insurance unit
Wednesday, 20 Sep 2017 06:08pm EDT 

Sept 21 (Reuters) - AIA Group Ltd <1299.HK>::‍To acquire Commonwealth Bank of Australia's life insurance businesses in Australia and New Zealand​ for A$3.80 billion.Transaction expected to be accretive to co's earnings in the first year following completion.  Full Article

Commonwealth Bank of Australia announces strategic review of asset management business
Wednesday, 20 Sep 2017 06:06pm EDT 

Sept 21 (Reuters) - Commonwealth Bank Of Australia ::Undertaking a strategic review of its global asset management business, Colonial First State Global Asset Management.Strategic review will consider a range of options, including an IPO.  Full Article

Commonwealth Bank Of Australia divests Australian and New Zealand life insurance businesses
Wednesday, 20 Sep 2017 06:04pm EDT 

Sept 21 (Reuters) - Commonwealth Bank Of Australia :Divests Australian and New Zealand life insurance businesses.Announces sale of its life insurance businesses in Australia and New Zealand to Aia Group Ltd​.Deal for $3.8 billion.Sale agreement also includes a 20-year partnership with AIA for provision of life insurance products to customers in Australia and New Zealand.Transaction is expected to release about $3 billion of common equity tier 1 capital.Under terms of partnership, co will continue to earn income on distribution of life & health insurance products.A pre-completion dividend is also expected to be received by commonwealth bank.Transaction is expected to result in a pro forma uplift to group's fy17 cet1 ratio of about 70 basis points on apra basis​.Transaction and partnership do not include general insurance and comminsure brand will be retained.Transaction is expected to result in an indicative after tax accounting loss on sale of about $300 million.Commonwealth Bank is considering a range of strategic alternatives for Bocomm Life equity interest.  Full Article

Commonwealth Bank Of Australia says it welcomes APRA appointments
Thursday, 7 Sep 2017 07:31pm EDT 

Sept 8 (Reuters) - Commonwealth Bank Of Australia ::Commonwealth bank welcomes APRA appointments.APRA has appointed John Laker Ao & company director Jillian Broadbent to undertake inquiry.Notes today's announcement by Australian Prudential Regulatory Authority on panel members.Inquiry panel will provide a final report to APRA by 30 April 2018.  Full Article

IMF Bentham to fund open class action against Commonwealth Bank of Australia
Monday, 4 Sep 2017 06:27pm EDT 

Sept 5 (Reuters) - IMF Bentham Ltd ::Australian case update - the Commonwealth Bank of Australia.Post investigations, IMF agrees to fund an open class action against Commonwealth Bank of Australia on a conditional basis.Class will consist of shareholders of CBA who purchased shares between 17 August 2015 and 3 August 2017 inclusive.Claim will allege breaches by CBA of its continuous disclosure obligations arising from alleged breaches.  Full Article

Commonwealth Bank Of Australia responds to media reports
Thursday, 31 Aug 2017 06:53pm EDT 

Sept 1 (Reuters) - Commonwealth Bank Of Australia :responds to media reports on transaction monitoring.document referred to in reports was working document, proposing technology enhancements as part of ongoing program.notes recent media reports concerning compliance & transaction monitoring in offshore jurisdictions by institutional banking & markets division.Program of action, including automation of tasks currently undertaken manually.program includes investment in systems to enhance transaction monitoring currently performed in Australia & offshore jurisdictions.a committee of board of bank was established on 8 Aug to oversee bank's response to austrac's statement of claim..committee comprises Mary Padbury, who chairs committee, Catherine Livingstone, Brian Long , Shirish Apte.  Full Article

Commonwealth Bank Of Australia comments on potential shareholder class action
Wednesday, 23 Aug 2017 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