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    CBA   AU000000CBA7

COMMONWEALTH BANK OF AUSTRALIA

(CBA)
  Report
Delayed Australian Stock Exchange  -  08:35 2022-09-29 pm EDT
92.49 AUD   -0.68%
12:36aAustralia court dismisses petition against CBA, unit over banned commissions
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Three of Australia's "Big Four" banks raise mortgage rates after RBA hike

08/04/2022 | 02:18am EDT
A combination of photographs shows people using automated teller machines (ATMs) at Australia's

(Reuters) - Three of Australia's "Big Four" banks raised their home loan variable interest rates on Thursday, after the country's central bank hiked rates earlier this week.

Commonwealth Bank of Australia, Australia and New Zealand Banking Group and Westpac Banking Corp increased their mortgage rates to match the hike announced by the Reserve Bank of Australia.

The new rates for CBA and ANZ customers will take effect from Aug. 12, while Westpac's rates will apply from Aug. 18.

The banks also raised rates on some of their products for customers with savings accounts and deposits.

Australia's central bank lifted its cash rate by 50 basis points to 1.85%, marking an eye-watering 175 basis points of hikes since May in the most drastic tightening since the early 1990s.

The country's lenders expect to improve their margins and reap benefits from a rising interest rate environment.

CBA is due to report its full-year results next week, while National Australia Bank Ltd, ANZ and Westpac are all set to issue quarterly updates.

(Reporting by Harish Sridharan and Savyata Mishra in Bengaluru; Editing by Shounak Dasgupta)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED -0.26% 23.3 Delayed Quote.-15.54%
COMMONWEALTH BANK OF AUSTRALIA -0.62% 92.49 Delayed Quote.-8.38%
NATIONAL AUSTRALIA BANK LIMITED -0.05% 29.23 Delayed Quote.0.52%
WESTPAC BANKING CORPORATION -0.62% 20.97 Delayed Quote.-1.97%
All news about COMMONWEALTH BANK OF AUSTRALIA
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Analyst Recommendations on COMMONWEALTH BANK OF AUSTRALIA
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Financials
Sales 2023 26 515 M 17 181 M 17 181 M
Net income 2023 9 845 M 6 379 M 6 379 M
Net Debt 2023 - - -
P/E ratio 2023 16,1x
Yield 2023 4,51%
Capitalization 158 B 102 B 102 B
Capi. / Sales 2023 5,95x
Capi. / Sales 2024 5,69x
Nbr of Employees 49 245
Free-Float 99,3%
Chart COMMONWEALTH BANK OF AUSTRALIA
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Technical analysis trends COMMONWEALTH BANK OF AUSTRALIA
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 16
Last Close Price 93,12 AUD
Average target price 91,40 AUD
Spread / Average Target -1,85%
EPS Revisions
Managers and Directors
Matthew Comyn Group Executive-Retail Banking Services
Alan Frank Docherty Chief Financial Officer
Paul Francis O'Malley Chairman
Pascal Boillat Chief Information Officer
Sinead Taylor Chief Operations Officer
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