CBA reports $10.9b profit, home loan applications down 15pc since May
Commonwealth Bank, Australia's second-largest company, announced a $10.9 billion full-year profit. Home loan applications have fallen 15 per cent since May, the bank reported alongside its results.
Commonwealth Bank, Australia's second-largest company, announced a $10.9 billion full-year profit. Despite the strong headline figure, the bank also reported a notable slowdown in home loan demand.
Home loan applications have fallen 15 per cent since May, according to the bank. The decline points to a softening in housing market demand dynamics and stands as a metric worth watching for the bank's growth outlook in the period ahead.
The results were released on a day when the broader Australian share market was also being closely tracked. Investors are treating CBA's figures as a reference point ahead of upcoming earnings from the country's other major banks.
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