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    CBA   AU000000CBA7

COMMONWEALTH BANK OF AUSTRALIA

(CBA)
  Report
Delayed Australian Stock Exchange  -  12:11 2022-11-25 am EST
109.20 AUD   +1.10%
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Australian lenders NAB, ANZ to raise home loan rates by 50 bps

09/09/2022 | 02:47am EST
FILE PHOTO: The logo of the ANZ Banking Group is displayed in the window of a branch in central Sydney, Australia

(Reuters) - Australia and New Zealand Banking Group joined National Australia Bank in raising its variable home loan interest rates on Friday, passing on the central bank's 50 basis points (bps) rate hike in full to their customers.

Westpac Banking Corp and the country's top lender Commonwealth Bank of Australia are also likely to raise their mortgage rates, after the Reserve Bank of Australia (RBA) raised its cash rate for the fifth time since May to a seven-year high of 2.35%.

New rates for customers of ANZ and NAB will become effective on Sept. 16, they said.

Both the lenders added that rates for savings accounts remain under review.

Australian lenders so far have been in lockstep with the RBA in passing the full rate hike to their customers, expecting to reap benefits at a time when the country's property market is showing signs of cooling.

Housing prices in the country took their biggest spill in 40 years in August, as rising interest rates and cost-of-living pressures blew a hole in demand, threatening to undermine household wealth and confidence.

(Reporting by Harish Sridharan; Additional reporting by Jaskiran Singh; Editing by Subhranshu Sahu and Rashmi Aich)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 0.69% 24.82 Delayed Quote.-9.06%
COMMONWEALTH BANK OF AUSTRALIA 1.10% 109.2 Delayed Quote.8.12%
NATIONAL AUSTRALIA BANK LIMITED 0.83% 31.49 Delayed Quote.9.19%
WESTPAC BANKING CORPORATION 0.50% 23.99 Delayed Quote.12.37%
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Analyst Recommendations on COMMONWEALTH BANK OF AUSTRALIA
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Financials
Sales 2023 27 816 M 18 763 M 18 763 M
Net income 2023 10 439 M 7 042 M 7 042 M
Net Debt 2023 - - -
P/E ratio 2023 17,5x
Yield 2023 4,02%
Capitalization 184 B 124 B 124 B
Capi. / Sales 2023 6,62x
Capi. / Sales 2024 6,41x
Nbr of Employees 49 245
Free-Float 98,8%
Chart COMMONWEALTH BANK OF AUSTRALIA
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Technical analysis trends COMMONWEALTH BANK OF AUSTRALIA
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 16
Last Close Price 109,20 AUD
Average target price 94,12 AUD
Spread / Average Target -13,8%
EPS Revisions
Managers and Directors
Matthew Comyn Group Executive-Retail Banking Services
Alan Frank Docherty Chief Financial Officer
Paul Francis O'Malley Chairman
Gavin Munroe Global Chief Information Officer
Sinead Taylor Chief Operations Officer
Sector and Competitors