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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Commonwealth Bank of Australia    CBA   AU000000CBA7

COMMONWEALTH BANK OF AUSTRALIA

(CBA)
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Commonwealth Bank of Australia : CBA accepting requests for new FHLDS places

10/20/2020 | 04:15am EST

CommBank has today announced that even more home buyers will be able to realise the Aussie dream of owning their own property under the extension to the First Home Loan Deposit Scheme (the Scheme).

From tomorrow, eligible first home buyers looking to build or purchase a newly built home are able to request a place to join CBA's waitlist.

As part of the 2020-21 Federal Budget, the Australian Government announced the New Home Guarantee, an additional 10,000 Scheme places specifically for first home buyers purchasing new homes with a deposit of between 5 and 20 per cent of the property's value.

Commonwealth Bank Group Executive Angus Sullivan said: 'We have already helped more than 3,000 Australians purchase a house under the Scheme and are extremely supportive of the move to extend this to an additional 10,000 Australians looking to buy their first home.

'We know that saving for a deposit can be difficult. Given the challenges faced by many of our customers over the past few months, we support any initiatives that play a constructive role in helping first home buyers get onto the property ladder and support the broader economic recovery, specifically in the construction industry.

'We are proud to have been a major participant in the Scheme since its inception and have helped more Australians purchase a home under the Scheme than any other lender. One in four Australian home loans are with CommBank and with some of the lowest fixed rates on record our Australian-based call centres and industry-leading processing remain open for business and ready to assist.'

Under the New Home Guarantee, a revised set of property price caps will apply for eligible properties. For more information, customers should visit our First Home Loan Deposit Scheme website.

Customers can request to join CBA's waitlist for the New Home Guarantee from tomorrow via a CommBank Lender in branch or by calling 13 2224, by visiting the CommBank website or via their Broker.

Disclaimer

Commonwealth Bank of Australia published this content on 20 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2020 08:14:08 UTC


© Publicnow 2020
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Financials
Sales 2021 23 378 M 17 255 M 17 255 M
Net income 2021 8 606 M 6 352 M 6 352 M
Net Debt 2021 - - -
P/E ratio 2021 18,8x
Yield 2021 3,34%
Capitalization 142 B 104 B 105 B
Capi. / Sales 2021 6,07x
Capi. / Sales 2022 6,01x
Nbr of Employees 41 778
Free-Float 99,7%
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Mean consensus UNDERPERFORM
Number of Analysts 14
Average target price 73,32 AUD
Last Close Price 80,10 AUD
Spread / Highest target 6,12%
Spread / Average Target -8,46%
Spread / Lowest Target -21,3%
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NameTitle
Matthew Comyn Chief Executive Officer, Executive Director & MD
Catherine Brighid Livingstone Chairman
Alan Frank Docherty Chief Financial Officer
Pascal Boillat Chief Information Officer
Shirish Moreshwar Apte Independent Non-Executive Director
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