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In mixed news for shareholders the bank has belatedly paid a reduced second half dividend while slashing the first half dividend by almost a quarter. ....
CBA brings back Saturday trading Updated Save Share Commonwealth Bank retail bank boss Angus Sullivan says branches will remain a central part of the bank’s strategy as it prepares to open 88 branches from 10am to 2pm this Saturday. Mr Sullivan accepted that while the overall number of branches was likely to shrink the bank remained committed to investing in the network and would push ahead with plans to double the number of business bankers in branches by mid-year. “We have had a focus for a number of years now to grow the capacity of our branches,” Mr Sullivan said. “There is still a huge need for customers to come into a branch and see a business banker or a lender.” ....
MacroBusiness Access Subscriber Only Content at 11:20 am on February 11, 2021 | 1 comment Australian banks are in the process of writing back many of their COVID-19 provisions. That said, there are still some large weeping sores for bank earnings. High touch service sectors are demolished. Commerical property is stuffed by work from home. Both of these trigger pockets of residential stress even as the Frydenberg Unstimulus lands on everybody. The excellent Jonathon Mott takes a look at whether CBA is a positive leading indicator or canary in the coal mine: 1H21 Result – Cash NPAT $3,886m, EPS $2.20 (+32%), Div $1.50, ROE 10.5% CBA delivered a clean 1H21 Result, about 2% above consensus. The highlight remains its Balance Sheet strength, with further provision and capital build maintaining a high degree of conservatism. Highlights (H/H): (1) NII up 1%, with NIM down just 3bp to 2.01% and 1.1% growth in Average loans; (2) Non-Interest Income was stronger, +5% wi ....