Business
CBA’s hit from pandemic far less painful than feared – Sydney Morning Herald
The Commonwealth bank result shows the impact of the pandemic on banks and the wider economy could have been a lot worse.
Neither the bank nor the economy are out of the woods yet, despite the cautious reopenings of some of the sectors of the economy most affected by the pandemic, but the worst fears of bankers, economists and politicians arent being realised.
At their peak CBA had 145,000 home loan customers with $51 billion of loans and 67,000 small and medium-sized businesses with $15.7 billion of loans deferring their repayments. As of January 31, home loan deferrals were down to 25,000 customers and $9 billion…
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