News Articles for Commonwealth Bank of Australia

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Perth has suffered its worst inflation in 32 years in 2022, with a big jump in the December quarter. Plus: Perth's biggest price rises in 2022.

Australian consumers have continued to favour Woolworths after the retail giant was reported as the nation's most valued brand at $16.2 billion.

Generation Z employees were among the least aware of cyber security threats despite having grown up in the digital age, a report finds.

APM Human Services has secured a further $200 million debt facility, taking its total debt to over $1 billion, after entering a series of acquisitions.

A series of cash rate hikes by the central bank has not dented Australia's job market, with unemployment in WA at 3.5 per cent.

The eighth interest rate hike in a row has been met with indifference by consumers, with households likely banking on a pause at the next Reserve Bank meeting.

The cash rate has hit its highest level since December 2012, with a $500,000 home loan now costing $880 more per month than before the hikes started in May.

Commonwealth Bank says its cash net profit after tax in the September quarter was up 13 per cent from the same time a year ago.

The court has dismissed property developer Luke Saraceni's appeal against Commonwealth Bank of Australia over the $500 million Raine Square project.

The local share market is slightly higher this morning, with gains by the big banks outweighing losses by the mining and energy sectors.

The central bank has shifted gears and moderated its rate hikes, with some economists concerned this could prolong the rate hiking cycle.

The nation's central bank has reacted to concerns about the pace of interest rate rises with a softer-than-expected decision, lifting the official cash rate 25 basis points to be 2.6 per cent.

The Commonwealth Bank subsidiary plans to close its 14 east coast branches and reduce opening hours at 29 regional branches in Western Australia.

Australia's biggest lender has lifted its annual profit by 11 per cent and declared a final dividend of $2.10 a share.

Commonwealth Bank of Australia has matched this week's move by the central bank and raised its variable home loan rates.

New home builds in Western Australia have plunged 32.2 per cent in the latest quarterly data, the most significant drop in almost four decades, as rising costs slow the construction boom.

ANZ has followed Commonwealth Bank in raising mortgage rates following the central bank's decision to lift the cash rate to 1.35 per cent.

Moody's has warned that rising interest rates and living costs could make it harder for some borrowers to meet mortgage repayments, as major banks begin passing on rate rises to customers.

New data suggests the sharp rise in inflation and an expected rapid rise in interest rates will take the edge off Australia's economic expansion.

Commonwealth Bank of Australia third quarter cash profit has remained steady at $2.4 billion as growth in home and business lending was offset by the impact of ongoing margin pressure.

The cash rate could be expected to rise over time to 2.5 per cent, RBA governor Philip Lowe has said, while the central bank forecasts inflation could get worse before it gets better.

The Commonwealth Bank has won a $100 million contract to provide banking services to the state government for at least three years.

Australians are back on the move and buying homes again following the end of COVID-19 restrictions.

Bankwest has told staff it plans a major shift in strategy, with its entire business banking operation to be shifted to parent company Commonwealth Bank.

CBA has flagged an additional $2 billion share buyback after first-half profit jumped 26 per cent to $4.7 billion.

BHP has knocked Commonwealth Bank off the ASX top spot as a scheme of arrangement unifying the miner's UK and Australian corporate entities takes effect on the stock exchange.

Jason Chan will lead Bankwest as executive general manager, after his predecessor Sinead Taylor was appointed to the c-suite of Commonwealth Bank.

Shoe retailer Betts has posted a profit as it worked to rein in costs, but its annual report reveals negative net assets and falling cash reserves.

Woodside's purchase of BHP's oil assets is close to the biggest deal by a WA company.

Australia's big four banks have been quick to jump on board an expanded federal loan scheme to help steer small businesses through the spate of coronavirus lockdowns.

Commonwealth Bank has announced a $6 billion share buyback and lifted dividends after improving economic conditions helped it post a robust rise in full-year profit.

Stadiums and shops could be the next frontier of Australia's coronavirus vaccine rollout, with a plan to administer drive-through jabs being weighed up.

Commonwealth Bank of Australia chief executive Matt Comyn says his bank stands ready to assist customers with over half the population now in lockdown.

Australia Post has entered new agreements with both the Commonwealth Bank and NAB, which will offer banking services in post offices for the next decade.

The Commonwealth Bank is offloading its general insurance business to the Hollard Group, which will then sell home and vehicle insurance to CBA customers.

The Reserve Bank of Australia board believes the economy is transitioning from recovery to expansion with more momentum than previously anticipated.

The Commonwealth Bank has bought stakes in an online shopping group and power retailer as it tries to keep pace with innovative online rivals.

Commonwealth Bank shares have traded for $100 for the first time since the bank joined the market in 1991.

Unemployment fell slightly to 4.9 per cent in Western Australia, despite 15,000 people losing jobs in April.