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Commonwealth Bank of Australia CBA Stock Quote

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Morningstar‘s Stock Analysis CBA

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Higher Margin Outlook for Australian Banks, With Loan Repricing Supporting Our Positive Sector View

Nathan Zaia Senior Equity Analyst

Analyst Note

| Nathan Zaia |

The increases in the Reserve Bank of Australia cash rate to arrest inflation will have an impact on key earnings drivers for the banks. With the cash rate currently at 2.35%, and likely north of 3% by year-end, the increases from just 0.1% in April 2022 have been swift. It is expected to slow credit growth, with less borrowing capacity and confidence (a complete turnaround from the fear-of-missing-out environment of recent years). However, we think bank sector revenue growth will be buoyed by higher net interest margins, with the spread between lending rates and the cost of customer deposits widening.

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Key Statistics CBA

Company Profile CBA

Business Description

Commonwealth Bank is Australia's largest bank with operations spanning Australia, New Zealand, and Asia. Its core business is the provision of retail, business, and institutional banking services. The bank has emphasised its focus on banking in recent years with a numbers of asset divestments in wealth management and insurance.

11 Harbour Street, Commonwealth Bank Place South, Level 1
Sydney, NSW, 2000, Australia
T +61 293782000
Industry Banks - Diversified
Most Recent Earnings
Fiscal Year End Jun 30, 2023
Employees 49,245

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