|Bid||88.71 x 0|
|Ask||88.71 x 0|
|Day's Range||87.53 - 88.80|
|52 Week Range||69.72 - 91.05|
|Beta (5Y Monthly)||0.46|
|PE Ratio (TTM)||16.10|
|Earnings Date||Feb 12, 2020|
|Forward Dividend & Yield||4.00 (4.50%)|
|Ex-Dividend Date||Feb 19, 2020|
|1y Target Est||73.17|
Commonwealth Bank of Australia reported better than expected cash profit of A$4.48bn ($3.02bn) for the first half of financial 2020 and a positive outlook, sparking a rally in its stock and fuelling hope that several years of scandal-linked underperformance may be coming to an end. Shares in Australia’s largest bank by assets rose more than 3 per cent to A$87.47 on Wednesday following the strong set of results for the six months to the end of December. A surge in home lending, which grew 4 per cent in the first half compared to the industry average of 1.5 per cent, underpinned CBA’s performance, which beat consensus analyst estimates of A$4.34bn cash profit.
Australian regulators would consider intervening to stop banks from automatically directing "tap-and-go" card payments through the world's largest payment processors Visa and Mastercard Inc., the Reserve Bank of Australia (RBA) said Wednesday. Banks needed to stop automatically directing debit card payments through the two global networks, and instead give retailers the cheaper option to use EFTPOS, a local payment network, Governor Philip Lowe told reporters after a speech in Canberra. Global card schemes MasterCard and Visa, alongside the major four banks, dominate card payments systems in Australia.
Rating Action: Moody's assigns provisional ratings to Australian personal loan ABS issued by Latitude Personal Finance Pty Ltd. Global Credit Research- 31 Jan 2020. Latitude Australia Personal Loans Series ...
Commonwealth Bank of Australia grew its home lending business in the second half of last year, the only one to do so of the four major banks, data showed on Friday, as offshore lenders lured customers with quick approvals and cheap money. The loss of market share for the Big Four points to a challenging revenue growth environment at a time when their dependency on home loans has increased after selling scandal-hit businesses such as insurance and financial advice. A string of scandals in the last two years has seen regulators pressuring the major banks to tighten their conduct and lending processes, thereby slowing down credit approvals.
Australia's biggest lenders are bracing for another year of pain as the fallout from a string of scandals shows no sign of letting up following a blistering public inquiry into financial sector misconduct. "The Royal Commission didn't mark the end of their problems," said Sean Sequeira, chief investment officer at Australian Eagle Asset Management, referring to the government-led inquiry into wrongdoings in the industry. This week, National Australia Bank executives endured a six-hour annual general meeting as investors grilled management a day after regulators filed a lawsuit against the bank over fee charges.
Moody's Investors Service ("Moody's") has today affirmed Aa3 long-term issuer and the Aa3 senior unsecured debt ratings of the Commonwealth Bank of Australia ("CBA"). The senior unsecured debt and issuer ratings of CBA reflect its very strong asset quality, high levels of capital and good liquidity. The ratings also incorporate two notches of government support, given our views of CBA's systemic importance.
Moody's Investors Service has assigned definitive ratings to the notes issued by Perpetual Corporate Trust Limited in its capacity as the trustee of the Flexi ABS Trust 2019-2. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.
Australia's Commonwealth Bank is planning to sell A$1 billion ($687.20 million) worth of residential mortgage bonds in the country's first public deal that will not use the local LIBOR-equivalent benchmark, the bank bill swap (BBSW) rate. Bond coupons, or interest rates around world financial markets are priced relative to surveyed inter-bank lending rates such as the London Interbank Offered Rate (Libor), a benchmark embedded in as much as $340 trillion financial contracts worldwide. The Australian corporate regulator in 2014 implemented changes to the BBSW methodology that require it to be based on actual transactions and not a survey.
Moody's Investors Service has assigned provisional ratings to the notes to be issued by Perpetual Corporate Trust Limited in its capacity as the trustee of the Flexi ABS Trust 2019-2. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Commonwealth Bank of Australia and other ratings that are associated with the same analytical unit. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
(Bloomberg) -- Swedish payments and banking firm Klarna became the most valuable European fintech startup after new funding pushed its post-money valuation to $5.5 billion.Klarna reached that status after raising $460 million in an equity round that will help it “continue its rapid rise in the U.S. market where it is currently growing an annual rate of six million new U.S. consumers,” the company said in a statement on Tuesday.With its new funding, the Stockholm-based startup leapfrogs European fintech darlings TransferWise and N26, which have recently been valued at $3.5 billion.Klarna helps online shoppers arrange financing at points of purchase, as well as provide merchants with payment tools. It challenges companies such as PayPal Holdings Inc., Square Inc. and Adyen NV, each of which has their own twist on facilitating commerce between sellers and shoppers.Dragoneer Investment Group led the raise, according to the statement. Other participants included the Commonwealth Bank of Australia, HMI Capital LLC, Merian Chrysalis Investment Co. and Sweden’s AP1 state pension fund, as well as accounts managed by BlackRock Inc. These additional investments follow the January announcement that the rapper known as Snoop Dogg had invested in the Swedish firm.Numis acted as exclusive financial adviser and placement agent to Klarna.To contact the reporters on this story: Ali Ingersoll in London at email@example.com;Niklas Magnusson in Stockholm at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Nate Lanxon, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.