CMWAY - Commonwealth Bank of Australia

Other OTC - Other OTC Delayed Price. Currency in USD
57.19
-0.29 (-0.50%)
At close: 3:46PM EDT
Stock chart is not supported by your current browser
Previous Close57.48
Open57.30
Bid0.00 x 0
Ask0.00 x 0
Day's Range57.04 - 57.44
52 Week Range46.09 - 57.76
Volume8,105
Avg. Volume13,565
Market Cap103.314B
Beta (3Y Monthly)0.44
PE Ratio (TTM)14.93
EPS (TTM)3.83
Earnings DateN/A
Forward Dividend & Yield2.83 (4.96%)
Ex-Dividend Date2019-02-15
1y Target EstN/A
Trade prices are not sourced from all markets
  • Bloombergyesterday

    New Zealand Plans to Introduce Bank Deposit Protection Regime

    (Bloomberg) -- New Zealand plans to introduce a bank deposit protection regime to bring it into line with other developed nations and increase public confidence in its lenders.“New Zealand has been an outlier for many years in that we don’t have a formal deposit protection regime to support Kiwis if a bank were to fall over,” Finance Minister Grant Robertson said in a statement Monday in Wellington. While no decisions had been taken yet on how the system would be funded, deposit protection regimes elsewhere were often based on a bank levy, he later told a news conference.New Zealand’s banking system is dominated by four big Australian lenders -- Australia & New Zealand Banking Group Ltd., National Australia Bank Ltd., Westpac Banking Corp. and Commonwealth Bank of Australia -- which together hold around 90% of deposits. Separately, the RBNZ has told the banks it wants them hold more capital to make them more resilient.Adopting deposit protection is part of a review of the central bank’s underlying legislation and follows reports from the OECD and IMF that said New Zealand’s banking system might be more vulnerable in a crisis without one. The government will also give the RBNZ more tools to bolster prudential supervision as part of the review.Limited ProtectionNew Zealand is proposing deposit protection of up to NZ$50,000 ($33,000), which would cover 90% of individual bank deposits, but only about 40% of the total value, Robertson said. Final decisions and details will be announced in early 2020.The proposed regime would put the nation toward the lower end of protection when compared to similar economies, Robertson said. Australia introduced a guarantee on deposits of up to A$250,000 ($174,000) in 2008 at the height of the global financial crisis, while the U.S. guarantees deposits of up to $250,000 and the U.K. guarantees up to 85,000 pounds ($108,000).Robertson said the next phase of the review of the RBNZ will include looking at the bank’s supervision and enforcement powers, and whether penalties are tough enough to discourage certain behaviors.The government is considering adopting elements of overseas frameworks, which would increase the responsibilities and accountabilities of senior executives for the actions of New Zealand’s banks and licensed deposit-takers, he said.‘Stricter Regime’Models in Australia and the U.K. go a step further than New Zealand’s current director-attestation regime for banks by also holding senior managers to account for the prudent management of their bank within their area of responsibility, he said.“We want to look at the balance between the more light-handed regulatory model that the Reserve Bank has traditionally had, versus what we’ve been advised by the IMF and others over the years should be a stricter regime,” Robertson said.The announcement comes after the RBNZ last month censured ANZ Bank New Zealand Ltd. over persistent failure to comply with rules around modeling risk capital requirements.Earlier Monday, the RBNZ requested that ANZ New Zealand provide two independent reports to assure the central bank it is operating in a prudent manner. Last week, ANZ New Zealand Chief Executive Office David Hisco quit after a review revealed mis-characterization of personal expenses.New Zealand Prime Minister Jacinda Ardern said Monday there was no need for New Zealand to follow Australia and hold a Royal Commission into banking.The government has also taken a number of in-principle decisions to guide the review of the RBNZ Act:The RBNZ will retain a prudential supervisory role, rather than separating it into a new agencyA new governance board will be established that will be given statutory authority over all RBNZ decisions apart from monetary policy The Treasury Department will be the RBNZ’s monitoring agent The separate regulatory regimes for banks and non-bank deposit takers will be merged into one To contact the reporter on this story: Tracy Withers in Wellington at twithers@bloomberg.netTo contact the editors responsible for this story: Matthew Brockett at mbrockett1@bloomberg.net, Peter VercoeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • RBA Says Further Rate Cut ‘More Likely Than Not’ in Period Ahead
    Bloomberg7 days ago

    RBA Says Further Rate Cut ‘More Likely Than Not’ in Period Ahead

    (Bloomberg) -- Australia’s central bank is likely to lower interest rates again to drive increased hiring and boost households’ confidence that inflation will return to target.The Reserve Bank made the comment in minutes of its June 4 policy meeting, when it eased the cash rate to 1.25% in the first reduction in almost three years. The report was released in Sydney Tuesday.“Given the amount of spare capacity in the labor market and the economy more broadly, members agreed that it was more likely than not that a further easing in monetary policy would be appropriate in the period ahead,” policy makers said. “They also recognized, however, that lower interest rates were not the only policy option available to assist in lowering the rate of unemployment.” In a speech following the rate cut, RBA Governor Philip Lowe warned against over-reliance on monetary policy, saying that infrastructure investment and structural reforms could also help speed economic growth.The Australian dollar fell after Tuesday’s report, buying 68.45 U.S. cents at 12:32 p.m. in Sydney, compared with 68.57 cents before its release.The central bank is again homing in on inflation, acknowledging it has remained below target for three years and could start to impact household expectations. When he took the helm in 2016, Lowe said RBA officials aren’t “inflation nutters” and were focused on boosting financial system resilience through better lending standards and deflating asset prices.“The inflation target plays an important role as a strong medium-term anchor for inflation expectations, to help deliver low and stable inflation, which in turn supports sustainable growth in employment and incomes,” the board said in Tuesday’s minutes.The central bank again spelled out that its growth, inflation and employment outlook were based on market expectations that rates would be lower in the period ahead.“The July meeting is clearly live, but we marginally favor August for the next 25 basis-point cut because it coincides with the Statement on Monetary Policy,” said Gareth Aird, senior economist at Commonwealth Bank of Australia, referring to the RBA’s quarterly update of economic forecasts. “Back-to-back rate cuts may have a negative impact on household confidence.”Commonwealth updated its RBA forecast earlier today and now sees two reductions -- in August and November -- to take the cash rate down to 0.75%.Debt RiskThe RBA board was also confident that the easing wouldn’t undo the past three years’ work: “members judged that a decline in interest rates was unlikely to encourage a material pick-up in borrowing by households that would add to medium-term risks in the economy.” Australia’s household debt currently stands at a record high.Policy makers reiterated that they expected lower rates to stimulate the economy through the currency, cheaper business borrowing costs and reduced mortgage payments. Household spending -- which accounts for almost 60% of GDP -- has slowed sharply amid a nation-wide property slump.The central bank said data received for the June quarter and indicators of future activity “had been mixed.” It also said employment growth was likely to moderate a little, based on liaison with firms and other forward indicators.The RBA is now targeting unemployment of 4.5% to try to rekindle inflation, down from the 5% it had previously estimated as full employment.(Updates with economist comment in 9th paragraph.)To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.netTo contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Chris Bourke, Victoria BatchelorFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters21 days ago

    WRAPUP 4-Australia cuts rates as global cbanks move to head off trade shocks

    Australia's central bank cut rates to a record low on Tuesday and signalled willingness to go further as a worsening Sino-U.S. trade war raises recession risks for the world economy, pushing policymakers into what could be a global monetary easing cycle. RBA Governor Philip Lowe said the rate cut was designed to support employment growth and lift inflation, which has consistently undershot its 2%-to-3% medium-term target. "It is possible that the current policy settings will be enough – that we just need to be patient.

  • Even for a Bank, 12,000 Job Cuts Seems Excessive
    Bloomberg2 months ago

    Even for a Bank, 12,000 Job Cuts Seems Excessive

    What’s curious is that Commonwealth – the biggest of the four banks that dominate deposit-taking and lending in Australia – is acting an awful lot like cornered prey when things don’t seem so bad. For another, Commonwealth Bank is head and shoulders above its rivals on two crucial fronts: price-to-book and net interest margins. Commonwealth Bank has the largest workforce among Australia’s big four banks, and the second-lowest sales-per-employee ratio in the most recent half-year reporting period, according to data compiled by Bloomberg.

  • Moody's3 months ago

    Flexi ABS Trust 2019-1 -- Moody's assigns definitive ratings to Australian consumer loan ABS issued by FlexiGroup

    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 2019-1. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.

  • Moody's4 months ago

    Delta Air Lines, Inc. -- Moody's assigns Aa3 and A3 ratings to Delta Air Lines Series 2019-1 EETC

    Moody's Investors Service has assigned ratings to Delta Air Lines, Inc.'s Pass Through Certificates, Series 2019-1 that the company announced earlier today: $425 million Class AA with a legal final due date of October 25, 2025 at Aa3 and $75 million Class A with a legal final due date of October 25, 2025 at A3 (together, "the Certificates"). The senior unsecured rating of Delta is Baa3, its rating outlook is stable and neither is affected by this rating action.

  • Australia's Commonwealth Bank's 2H profit falls to $3.3B
    Associated Press5 months ago

    Australia's Commonwealth Bank's 2H profit falls to $3.3B

    CANBERRA, Australia (AP) — The Commonwealth Bank of Australia recorded a drop in statutory net drop in its latest half-year to 4.6 billion Australian dollars ($3.3 billion) on Wednesday as the nation's biggest lender was hit by costs for misconduct, lower profit margins and a downturn in the housing market.

  • Investing.com5 months ago

    Asian Markets Decline as U.S. Files Charges Against Huawei Ahead of Trade Talks

    Investing.com - Asian markets slipped in morning trade on Tuesday amid reports that the U.S. Department of Justice filed criminal charges against China’s Huawei and CFO Meng Wanzhou, who is the daughter of the company’s founder and president Ren Zhengfei.

  • Moody's7 months ago

    Moody's: Australian major banks' asset quality to weaken moderately in 2019 on the back of higher home loan delinquencies

    Moody's Investors Service says that housing loan delinquencies for Australia's four major banks continued to grow in the 12 months to 30 September 2018, although arrears remain at low levels. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. "We expect that delinquencies on residential mortgages will rise moderately in 2019 from the current low base," says Daniel Yu, a Moody's Vice President and Senior Analyst.

  • Reuters7 months ago

    Australia's CBA chair defends claim she raised governance concerns

    Commonwealth Bank of Australia's (CBA.AX) chairwoman on Wednesday defended her testimony to a financial sector inquiry that she had raised governance concerns with senior management, even though lawyers said there were no records of her doing so. Catherine Livingstone was also grilled over why the head of the scandal-hit retail division was later appointed CEO, and why executive bonuses were only affected after events were reported in the media rather than when the board became aware of them. In her second day in the witness stand at the quasi-judicial inquiry, Livingstone said she had confronted management at a board meeting in late 2016 after regulators warned the bank about breaches of anti-money laundering and terror-financing laws (AML/CTF).

  • Reuters8 months ago

    MUFG leaps to grab CBA asset management unit for $2.9 billion in surprise sale

    SYDNEY/TOKYO (Reuters) - Commonwealth Bank of Australia (CBA.AX) will sell its asset management arm to Mitsubishi UFJ Financial Group for $2.9 billion in a surprise sale, the latest business to be sold by an Australian financial giant amid unprecedented regulatory scrutiny. Australia's biggest lender said it was cancelling plans to list Colonial First State Global Asset Management in favour of a sale to create "a simpler, better bank". For MUFG, Japan's biggest financial group, the acquisition is the first in a grand plan to expand aggressively into overseas asset management, for which it has prepped a 1 trillion yen ($8.8 billion) warchest.

  • Reuters8 months ago

    CBA confirms its in advanced talks to sell funds unit

    (Reuters) - Commonwealth Bank of Australia (CBA.AX) confirmed on Wednesday that it is in advanced talks with a party over the sale of its investment management business. Australia's largest lender had ...

  • Prudential, Sun Life among bidders for CBA's Indonesia insurance business-sources
    Reuters9 months ago

    Prudential, Sun Life among bidders for CBA's Indonesia insurance business-sources

    At least five insurers, including Britain's Prudential (PRU.L) and Canada's Sun Life (SLF.TO), have bid for Commonwealth Bank of Australia's (CBA) (CBA.AX) majority stake in an Indonesian insurance venture, people with knowledge of the process said. The stake sale, which could value the venture at between $250 million (£191 million) and $300 million, has also received second-round bids from insurer FWD Group, Singapore-listed Great Eastern Holdings (GELA.SI), and Indonesia's Sequis Life, three people said. Australia's biggest lender is selling its 80 percent stake in PT Commonwealth Life, which has a presence in 20 Indonesian cities with more than 500,000 individual and group customers, Reuters reported in January.

  • Reuters9 months ago

    Two Australian banks among six targeted by fake apps - security firm

    Customers of six banks including two of Australia's largest lenders have had their personal details stolen by fake banking apps on the Google Play store, an internet security firm said. Slovakian-based security software firm ESET said the official-looking apps had been downloaded over a thousand times since they were uploaded to the Google Play store in June. In addition to Australia's Commonwealth Bank and Australia and New Zealand Banking Group, banks in Britain, New Zealand, Switzerland and Poland were targeted, the firm said in a blog post.

  • Reuters9 months ago

    Two Australian banks among six targeted by fake apps: security firm

    Customers of six banks including two of Australia's largest lenders have had their personal details stolen by fake banking apps on the Google Play store, an internet security firm said. Slovakian-based security software firm ESET said the official-looking apps had been downloaded over a thousand times since they were uploaded to the Google Play store in June. In addition to Australia's Commonwealth Bank and Australia and New Zealand Banking Group, banks in Britain, New Zealand, Switzerland and Poland were targeted, the firm said in a blog post.

  • There's a real 'Groundhog Day feel' to RBA meetings now: ...
    CNBC Videos7 months ago

    There's a real 'Groundhog Day feel' to RBA meetings now: ...

    Gareth Aird of the Commonwealth Bank says an acceleration in wages needs to persist before a rate rise comes onto the agenda of the Reserve Bank of Australia.

  • Discussing the outlook for the Chinese yuan
    CNBC Videos8 months ago

    Discussing the outlook for the Chinese yuan

    There are "clear signs" of dollar-yuan moving and sustaining at levels beyond 7 in the next 12 months, says Elias Haddad of Commonwealth Bank.

  • A look at the Australian jobs landscape
    CNBC Videos8 months ago

    A look at the Australian jobs landscape

    Gareth Aird of Commonwealth Bank says the fundamentals of the labor market in Australia are "quite sound."