Commonwealth Bank of Australia
The Commonwealth Bank of Australia or CommBank is Australia's largest bank by asset-size and the 18th largest bank in the Asia Pacific region ("Asia-Pacific's 50 largest banks by assets, 2023" by S&P Market Intelligence).
CommBank establishes tech hub in Seattle
CommBank establishes tech hub in Seattle
The first cohort focuses on learning to fast track adoption of agentic AI and gen AI solutions.
CommBank accelerates AI adoption with expanded Anthropic partnership
The Australian bank will focus on personalisation and safety.
CommBank rolls out discounts to small business with Yello for Business
Customers receive discounts on various brands and exclusive pricing on Samsung products.
CommBank adds extra confirmation step for NetBank logins
Customers using the CommBank app will be prompted for confirmation.
CBA expected to maintain low credit losses, strong capital levels
Australian banks remain exposed to high household debt and prices.
CommBank Australia reports net profit of $3.2b in H1
Interim dividend is A$2.25 per share.
Top 25 banks’ market cap rises 27.1% in Q4 2024
ICBC is APAC’s top bank in terms of market cap; DBS rises to 23rd spot.
CommBank walks back on account migration
Select accountholders would have been moved to a tier that has an A$3 withdrawal fee.
Commonwealth Bank divests wealth unit to LGT, 40 staff move
It is expected to close by mid-2025.
CBA to retain capital levels despite buyback, high dividend payout
Cash net profit after tax declined 2% in the latest financial year.
Australian banks’ dividends to stay flat amidst cash earning pressures
The higher payouts in H1 were to establish shareholders’ confidence, S&P said.
CBA credit losses to remain low over next two years: S&P
Share buyback will shave off reserves, but CBA should be able to remain above capital requirements.
Commonwealth Bank of Australia exploring GenAI use to test products
They are exploring the creation of GenAI chatbots that emulate human behaviors.
Weekly Global News Wrap: JPMorgan expects 20% revenue drop in Q1; CBA reports record profits
And Apple may look into into customers’ spending history, device ownership for BNPL services
Commonwealth Bank of Australia’s earnings to remain robust over next 2 years: S&P
Housing risks lessen as local house prices continue its correction.
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Why high capital levels are a double-edged sword for Singapore banks