Business
CBA’s record puts $100 firmly in sight – The Australian Financial Review
Commonwealth Bank’s surge to a record high takes the lender tantalisingly close to $100 a share, underscoring the ongoing depth of investor interest in Australia’s…
The major banks reporting seasons saw their forecast economic scenarios catch up to a rapidly-improving reality, said Citi banking analyst Brendan Sproules. The portfolios have all materially improved in credit quality.
Lenders have reduced COVID provisions to reflect the improving economic backdrop. Commonwealth Banks third quarter cash profit of $2.4 billion, released last week, was boosted by lower total credit provisions as the bank unwound its loan impairment by $136 million.
The banks have…
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