Live News • May 22
Commonwealth Bank of Australia Automates Daily Processing of 150 Million Transactions with FIS System Commonwealth Bank of Australia has selected FIS Data Integrity Manager to automate reconciliations across the bank.
The system will process more than 150 million transactions each day for CBA.
FIS highlights the CBA mandate, alongside a US$2.55b trade receivables securitisation for Glencore, as a key client win for its turnaround story.
Greater automation of reconciliations points to CBA placing further focus on operational efficiency and tighter control over large transaction volumes.
For you, the key questions are execution risk around such a large-scale implementation and the pace at which any efficiency or risk-management benefits might flow through to the broader banking franchise. Declared Dividend • Feb 15
First half dividend increased to AU$2.35 Dividend of AU$2.35 is 4.4% higher than last year. Ex-date: 18th February 2026 Payment date: 30th March 2026 Dividend yield will be 2.8%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by earnings (80% payout ratio) and is expected to be covered in 3 years' time (80% forecast payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 7.5% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 12
First half 2026 earnings: EPS and revenues exceed analyst expectations First half 2026 results: EPS: AU$3.24 (up from AU$3.08 in 1H 2025). Revenue: AU$14.7b (up 6.6% from 1H 2025). Net income: AU$5.41b (up 5.3% from 1H 2025). Profit margin: 37% (in line with 1H 2025). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 3.4%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Banks industry in Australia. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 11
Commonwealth Bank of Australia Estimates Ordinary Dividend for the Six Months Period Ended December 31, 2025, Payable on March 30, 2026 Commonwealth Bank of Australia estimated the ordinary dividend of AUD 2.35000000 per share for the six months period ended December 31, 2025, payable on March 30, 2026. Ex Date is on February 18, 2026 with Record Date on February 19, 2026. Is the ordinary dividend/distribution fully franked: Yes. Announcement • Nov 26
Commonwealth Bank of Australia Appoints Ranil Boteju as Chief AI Officer, Commencing Early in 2026 Commonwealth Bank of Australia announced the appointment of Ranil Boteju as Chief AI Officer, commencing early in 2026. Ranil joins from Lloyds Banking Group in London, where he is currently the Group Chief Data and Analytics Officer, responsible for the bank's AI, data and machine learning strategy. Leading a team of more than 2,000 people, he successfully scaled AI-driven tools and customer products, delivering more than 50 Generative AI initiatives that lifted Lloyds' ranking in the 2025 Evident AI Index by 12 places. A former Commonwealth Bank employee, Ranil returns to Australia after 15 years overseas. Before joining Lloyds in 2021, Ranil held senior roles at Standard Chartered and HSBC in Singapore and Hong Kong and brings more than 25 years of data, analytics, and business transformation experience to his new role. Strengthening CBA's AI Leadership: Ranil's appointment, to CBA's Technology Leadership Team, reflects continued focus on advancing responsible and customer-focused AI. The bank's AI leadership was recently recognised with a #4 global ranking in the 2025 Evident AI Index, highlighting its continued investment in innovation, people, and global partnerships that deliver better outcomes for its 18 million customers. Announcement • Nov 24
Commonwealth Bank Announces Executive Changes Commonwealth Bank announced a change to the bank's Executive Leadership Team. Group Executive Technology and Group Chief Information Officer, Gavin Munroe, is leaving CBA and will explore other opportunities outside the bank. Gavin's last day with CBA will be 22 December 2025. In the interim, Rodrigo Castillo, as CIO Central Technology, and Victoria Ledda, as CIO Business Technology, will step in and co-lead the Technology function, reporting to CEO Matt Comyn, subject to regulatory approval. Recent Insider Transactions • Sep 05
CEO, MD & Executive Director recently sold AU$1.5m worth of stock On the 1st of September, Matthew Comyn sold around 9k shares on-market at roughly AU$170 per share. This transaction amounted to 9.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Matthew's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Aug 22
CEO, MD & Executive Director exercised options and sold AU$3.5m worth of stock On the 14th of August, Matthew Comyn exercised options to acquire 20k shares at no cost and sold these for an average price of AU$168 per share. This trade did not impact their existing holding. For the year to June 2019, Matthew's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2024, Matthew's direct individual holding has decreased from 81.71k shares to 0. Company insiders have collectively sold AU$4.9m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Aug 21
Commonwealth Bank of Australia Announces Board Changes Chair of the Commonwealth Bank of Australia (CBA), Paul O'Malley, announced the appointment of Jane McAloon AM to CBA's Board as an Independent Non-Executive Director with effect from 1 October 2025, subject to regulatory requirements. Jane is Chair of BlueScope Steel Limited and a Non-Executive Director of Allianz Australia Limited. Jane also serves as Chair of EnergyAustralia Holdings Limited and is an Independent Member of the Allens Advisory Board and a member of the Monash University Council. She has indicated her intention to review her portfolio of commitments following her appointment to the CBA Board. Jane brings to the Board over 30 years of business and governance experience. Jane held executive positions with BHP Group Limited where she spent nine years, including two years on the Group Management Committee as President, Governance and Group Company Secretary. Prior to this, Jane was Group Manager, Corporate & External Services and Company Secretary at AGL Energy Limited and held executive leadership roles within the NSW Government. CBA also wishes to advise that Mary Padbury, Independent Non-Executive Director of the CBA Board, has decided not to offer herself for re-election at the 2025 Annual General Meeting (AGM). Mary will retire from the Board at the conclusion of the 2025 AGM. Mary joined the Board in June 2016 and has been a member of the Nominations Committee and People & Remuneration Committee. Declared Dividend • Aug 15
Final dividend of AU$2.60 announced Shareholders will receive a dividend of AU$2.60. Ex-date: 20th August 2025 Payment date: 29th September 2025 Dividend yield will be 2.9%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by earnings (80% payout ratio) and is expected to be covered in 3 years' time (79% forecast payout ratio). The dividend has increased by an average of 1.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 13
Commonwealth Bank of Australia, Annual General Meeting, Oct 14, 2026 Commonwealth Bank of Australia, Annual General Meeting, Oct 14, 2026. Reported Earnings • Aug 13
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: AU$6.06 (up from AU$5.67 in FY 2024). Revenue: AU$27.6b (up 5.5% from FY 2024). Net income: AU$10.1b (up 6.9% from FY 2024). Profit margin: 37% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Banks industry in Australia. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 10
New China Life Insurance Company Ltd. (SHSE:601336) acquired 5.45% stake in Bank of Hangzhou Co., Ltd. (SHSE:600926) from Commonwealth Bank of Australia (ASX:CBA). New China Life Insurance Company Ltd. (SHSE:601336) agreed to acquire 5.45% stake in Bank of Hangzhou Co., Ltd. (SHSE:600926) from Commonwealth Bank of Australia (ASX:CBA) for CNY 4.3 billion on January 24, 2025. New China Life Insurance Company will pay CNY 13.095 per share for 329,638,400 shares totaling CNY 4,316,614,848. The transaction is subject to regulatory approval from the National Financial Regulatory Administration, receipt of a confirmation opinion from the Shanghai Stock Exchange and registration of the share transfer by the Shanghai Branch of China Securities Depository and Clearing Corporation Limited. As of April 15, 2025, the transaction is approved by Zhejiang Regulatory Administration. The transaction is currently expected to occur around mid 2025.
New China Life Insurance Company Ltd. (SHSE:601336) completed the acquisition of 5.45% stake in Bank of Hangzhou Co., Ltd. (SHSE:600926) from Commonwealth Bank of Australia (ASX:CBA) on June 10, 2025. Announcement • Apr 10
Commonwealth Bank of Australia Appoints Wendy Lee as Additional Company Secretary, Effective 10 April 2025 Commonwealth Bank of Australia (CBA) announced the appointment of Ms Wendy Lee as an additional Company Secretary of CBA, effect from 10 April 2025. Ms Karen O'Flynn and Ms Vicki Clarkson remain Company Secretaries of CBA. Ms Vicki Clarkson continues to be a person responsible for communications with ASX under Listing Rule 12.6. Ms Wendy Lee will be an additional person responsible for communications with ASX under Listing Rule 12.6. Declared Dividend • Feb 14
First half dividend increased to AU$2.25 Dividend of AU$2.25 is 4.7% higher than last year. Ex-date: 19th February 2025 Payment date: 28th March 2025 Dividend yield will be 2.9%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by earnings (81% payout ratio) and is expected to be covered in 3 years' time (81% forecast payout ratio). The dividend has increased by an average of 2.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 13
Commonwealth Bank of Australia Announces Dividend for the Six Months Ended December 31, 2024 Commonwealth Bank of Australia announced dividend of AUD 2.25000000 for the six months ended December 31, 2024, Payable on March 28, 2025. Ex Date is February 19, 2025. Record Date is February 20, 2025. Reported Earnings • Feb 13
First half 2025 earnings: Revenues and EPS in line with analyst expectations First half 2025 results: EPS: AU$3.08 (up from AU$2.89 in 1H 2024). Revenue: AU$13.8b (up 4.7% from 1H 2024). Net income: AU$5.14b (up 6.3% from 1H 2024). Profit margin: 37% (in line with 1H 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Banks industry in Australia. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 06
Commonwealth Bank of Australia Appoints Luke Yeaman as its new chief economist and head of Global Economic and Markets Research Commonwealth Bank of Australia has announced a new appointment. The firm has appointed Luke Yeaman as its new chief economist and head of Global Economic and Markets Research. He is currently a deputy secretary in the Department of Treasury and head of the Macroeconomic Group. Yeaman has also served as Australia's G20 Finance Deputy. Yeaman has more than 20 years of experience in economic and government roles. Buy Or Sell Opportunity • Oct 15
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.3% to AU$139. The fair value is estimated to be AU$116, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has grown by 3.5%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings are also forecast to grow by 4.5% per annum over the same time period. Announcement • Oct 03
Commonwealth Bank of Australia Announces Executive Leadership Team Changes Commonwealth Bank of Australia announced changes to the Bank's Executive Leadership Team. Nigel Williams, Group Chief Risk Officer, will retire from CBA on 16 February 2025. Nigel will remain a director of ASB, the Group's New Zealand banking and funds management businesses. Andrew Hinchliff has been appointed Group Chief Risk Officer. Andrew has been with CBA since 2015 and was promoted into his current role of Group Executive Institutional Banking & Markets in August 2018. Sian Lewis, Group Executive Human Resources, will retire from CBA on 16 February 2025. Kiersten Robinson has been appointed Chief People Officer, subject to regulatory approval. Sinead Taylor has been appointed as Group Executive Institutional Banking and Markets. Emma Bunnell has been appointed Chief Operations Officer. Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. Independent Non-Executive Director Lyn Cobley was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Sep 08
CEO, MD & Executive Director recently sold AU$1.5m worth of stock On the 2nd of September, Matthew Comyn sold around 11k shares on-market at roughly AU$141 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth AU$2.6m. Matthew has been a net seller over the last 12 months, reducing personal holdings by AU$5.1m. Announcement • Sep 03
Commonwealth Bank of Australia Announces Board Changes Commonwealth Bank of Australia announced the appointment of Kate Howitt to CBA's Board as an Independent Non-Executive Director with effect from 1 October 2024, subject to regulatory requirements. Kate has a deep understanding of strategy, capital allocation, stakeholder management and sustainability. She is currently a Member of the Finance & Strategy Committee and Investments Subcommittee of the University of New South Wales, the Investment Committee of the Australian Indigenous Education Foundation and the Investment Committee of River Capital, a multi-asset boutique fund manager. She is also a Director of The Hunger Project Australia. During her executive career, Kate held senior roles with Fidelity International, AMP Capital, AMP Limited and The Boston Consulting Group. CBA also wishes to advise that Anne Templeman-Jones, Independent Non-Executive Director of the CBA Board, has decided not to offer herself for re-election at the 2024 Annual General Meeting (AGM). Anne will retire from the Board at the conclusion of the 2024 AGM. Anne joined the CBA Board in March 2018 after serving as the Chair of a number of CBA's key operating subsidiaries. During her tenure on the CBA Board, Anne has been the Chair of the Board Audit Committee and a Member of the Board Risk & Compliance Committee. In light of Anne's departure, Peter Harmer will commence as the Chair of the Board Audit Committee at the conclusion of the AGM on 16 October 2024. The Board remains focussed on ongoing Board renewal and succession and proposes to appoint another Non-Executive Director in the next twelve months. Recent Insider Transactions Derivative • Aug 24
CEO, MD & Executive Director exercised options and sold AU$1.6m worth of stock On the 15th of August, Matthew Comyn exercised options to acquire 12k shares at no cost and sold these for an average price of AU$135 per share. This trade did not impact their existing holding. For the year to June 2018, Matthew's total compensation was 34% salary and 66% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2023, Matthew's direct individual holding has decreased from 110.64k shares to 92.40k. Company insiders have collectively sold AU$5.1m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Aug 24
CEO, MD & Executive Director recently sold AU$2.6m worth of stock On the 15th of August, Matthew Comyn sold around 19k shares on-market at roughly AU$135 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Matthew has been a net seller over the last 12 months, reducing personal holdings by AU$3.6m. Declared Dividend • Aug 16
Final dividend increased to AU$2.50 Dividend of AU$2.50 is 4.2% higher than last year. Ex-date: 21st August 2024 Payment date: 27th September 2024 Dividend yield will be 3.4%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by earnings (82% payout ratio) and is expected to be covered in 3 years' time (79% forecast payout ratio). The dividend has increased by an average of 2.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 14
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: AU$5.67 (down from AU$6.03 in FY 2023). Revenue: AU$26.1b (down 1.2% from FY 2023). Net income: AU$9.48b (down 6.9% from FY 2023). Profit margin: 36% (down from 39% in FY 2023). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Australia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Aug 13
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to AU$133. The fair value is estimated to be AU$110, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings are also forecast to grow by 2.7% per annum over the same time period. Announcement • May 03
PT Bank OCBC NISP Tbk (IDX:NISP) completed the acquisition of 99% stake in PT Bank Commonwealth from Commonwealth Bank of Australia (ASX:CBA). PT Bank OCBC NISP Tbk (IDX:NISP) entered into a binding agreement to acquire 99% stake in PT Bank Commonwealth from Commonwealth Bank of Australia (ASX:CBA) for approximately AUD 220 million on November 16, 2023. Transaction is subject to regulatory approval from the Indonesia Financial Services Authority and the Monetary Authority of Singapore. The completion of the Transaction is currently expected to occur in the third quarter of 2024. Morgan Stanley (NYSE:MS) acted as financial advisor to Commonwealth Bank of Australia (ASX:CBA). Amelia Morgan of Herbert Smith Freehills and Vik Tang, Abimata Putra of Hiswara Bunjamin & Tandjung acted as legal advisor to Commonwealth Bank of Australia (ASX:CBA) & PT Bank Commonwealth. Allen & Gledhill and Assegaf Hamzah & Partners acted as legal advisor to PT Bank OCBC NISP Tbk (IDX:NISP).
PT Bank OCBC NISP Tbk (IDX:NISP) completed the acquisition of 99% stake in PT Bank Commonwealth from Commonwealth Bank of Australia (ASX:CBA) on May 1, 2024. Buy Or Sell Opportunity • May 02
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at AU$115. The fair value is estimated to be AU$95.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 3.0% per annum over the same time period. Buy Or Sell Opportunity • Mar 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 5.3% to AU$116. The fair value is estimated to be AU$96.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 1.8% per annum over the same time period. Buy Or Sell Opportunity • Feb 26
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to AU$116. The fair value is estimated to be AU$96.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 2.5% per annum over the same time period. Declared Dividend • Feb 18
First half dividend of AU$2.15 announced Shareholders will receive a dividend of AU$2.15. Ex-date: 21st February 2024 Payment date: 28th March 2024 Dividend yield will be 3.9%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by earnings (78% payout ratio) and is expected to be covered in 3 years' time (79% forecast payout ratio). The dividend has increased by an average of 2.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 10% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Feb 16
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to AU$116. The fair value is estimated to be AU$96.40, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 1.9% per annum over the same time period. Reported Earnings • Feb 15
First half 2024 earnings: EPS misses analyst expectations First half 2024 results: EPS: AU$2.89 (down from AU$3.09 in 1H 2023). Revenue: AU$13.2b (down 2.2% from 1H 2023). Net income: AU$4.84b (down 7.7% from 1H 2023). Profit margin: 37% (down from 39% in 1H 2023). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Banks industry in Australia. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year. Announcement • Nov 22
Matt Comyn Resigns from Commonwealth Bank as Deputy CEO Chief Executive Officer of the Commonwealth Bank, Matt Comyn, has announced that David Cohen will finish his role as Deputy CEO on 31 December 2023. In November 2018, David was appointed to the newly created role of Deputy CEO which was designed to support the bank's efforts to simplify its portfolio and increase focus on customer remediation and complaints. With the recent announcement of the intended sale of CBA's Indonesian subsidiary, PT Bank Commonwealth, and substantial progress on legacy customer remediation programs, the work of the Deputy CEO has been successfully achieved and therefore the role is no longer required. David will continue to serve as CBA's representative on the Board of PT Bank Commonwealth during its sale transition, and remain a director of ASB, the Group's New Zealand banking and funds management businesses. David joined CBA in 2008 and during his 15 years of service he has held the roles of Group General Counsel, Group Executive Human Resources, Group Executive Corporate Affairs and Chief Risk Officer. In his most recent role as Deputy CEO, David has overseen CBA's divestments of nine non-core banking entities, supervised a number of mergers and acquisitions to help strengthen the bank's unique customer value proposition, and guided CBA's efforts to improve customer complaint resolution and remediation. Announcement • Nov 17
PT Bank OCBC NISP Tbk (IDX:NISP) entered into a binding agreement to acquire 99% stake in PT Bank Commonwealth from Commonwealth Bank of Australia (ASX:CBA) for AUD 220 million. PT Bank OCBC NISP Tbk (IDX:NISP) entered into a binding agreement to acquire 99% stake in PT Bank Commonwealth from Commonwealth Bank of Australia (ASX:CBA) for AUD 220 million on November 16, 2023. Transaction is subject to regulatory approval from the Indonesia Financial Services Authority and the Monetary Authority of Singapore. The completion of the Transaction is currently expected to occur in the second or third quarter of 2024. Announcement • Oct 06
Commonwealth Bank of Australia Announces Appointment of Rebecca Warren as Executive General Manager Commonwealth Bank of Australia announced an executive appointment. The firm has announced the appointment of a general manager to lead its small business banking team. The firm has appointed Rebecca Warren as executive general manager, Small Business Banking. She will focus on the helping the growth of small businesses in Australia. Announcement • Sep 26
Commonwealth Bank of Australia Announces Resignation of Genevieve Bell AO from the Board, Effective 31 October 2023 Chair of the Commonwealth Bank of Australia (CBA), Mr. Paul O'Malley, announced that Genevieve Bell AO has decided to retire from the Board effective 31 October 2023 following the announcement of her appointment as the Vice-Chancellor and President of The Australian National University effective 1 January 2024. Ms Bell was appointed to the CBA Board on 1 January 2019 and has been a member of the People & Remuneration Committee and the Nominations Committee. Announcement • Sep 18
Commonwealth Bank of Australia Announces Federal Court of Australia Approves Consumer Credit Insurance Class Action Settlement Commonwealth Bank of Australia (CBA) noted that on 15 September 2023, the Federal Court of Australia approved the settlement reached in relation to the CCI class action commenced in June 2020. The approved settlement sum of $50 million is consistent with CBA's announcement on 14 November 2022. This class action related to consumer credit insurance for credit cards and personal loans that was sold between 1 January 2010 and 7 March 2018. Announcement • Aug 31
Commonwealth Bank of Australia Announces Company Secretary Changes Commonwealth Bank of Australia (CBA) announced the resignation of Ms. Carmel Mulhern as a Company Secretary of CBA with effect from 31 August 2023. Ms. Karen O'Flynn has been appointed as a Company Secretary of CBA with effect from 1 September 2023. Ms. Vicki Clarkson remains a Company Secretary of CBA and the person responsible for communications with ASX under listing rule 12.6. Announcement • Aug 11
Commonwealth Bank of Australia Announces a Final Dividend, Payable on or Around 28 September 2023 Commonwealth Bank of Australia announced a final dividend of $2.40 per share, fully franked, was determined, taking the full year dividend to $4.50. The final dividend payout ratio was 74% of the Bank's cash earnings. The ex-dividend date is 16 August 2023, the record date is 17 August 2023, and the final dividend will be paid on or around 28 September 2023. Reported Earnings • Aug 09
Full year 2023 earnings released: EPS: AU$6.32 (vs AU$5.62 in FY 2022) Full year 2023 results: EPS: AU$6.32 (up from AU$5.62 in FY 2022). Revenue: AU$26.4b (up 3.9% from FY 2022). Net income: AU$10.2b (up 5.3% from FY 2022). Profit margin: 39% (in line with FY 2022). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Banks industry in Australia. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year. Announcement • Aug 09
Commonwealth Bank of Australia (ASX:CBA) announces an Equity Buyback for AUD 1,000 million worth of its shares. Commonwealth Bank of Australia (ASX:CBA) announces a share repurchase program. Under the program, the company intends to repurchase up to AUD 1,000 million worth of its shares. The program will expire on August 7, 2024. As of August 9, 2023, the company had 1,676,169,322 shares in issue. Announcement • Jul 29
Commonwealth Bank Appoints Rodrigo Castillo as Chief Technology Officer Commonwealth Bank has announced the appointment of Rodrigo Castillo as a new chief technology officer (CTO), and he is to start attending to his duties this week. Castillo was previously the chief information officer for HSBC's wealth and personal banking (WPB) business in the Americas. Announcement • May 09
Commonwealth Bank of Australia Reports Loan Impairment Expense for the Third Quarter Ended March 31, 2023 Commonwealth Bank of Australia reported loan impairment expense for the third quarter ended March 31, 2023. Loan impairment expense of $223 million, with collective and individual provisions slightly higher. Recent Insider Transactions • Feb 25
Independent Non-Executive Chairman recently bought AU$102k worth of stock On the 20th of February, Paul O'Malley bought around 1k shares on-market at roughly AU$102 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Paul has been a buyer over the last 12 months, purchasing a net total of AU$232k worth in shares. Reported Earnings • Feb 15
First half 2023 earnings: EPS misses analyst expectations First half 2023 results: EPS: AU$3.08 (up from AU$2.73 in 1H 2022). Revenue: AU$13.4b (up 9.0% from 1H 2022). Net income: AU$5.22b (up 10.0% from 1H 2022). Profit margin: 39% (in line with 1H 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.1%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Banks industry in Australia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Feb 15
Commonwealth Bank of Australia Announces Dividend for the Six Months Ended December 31, 2022, Payable on March 30, 2023 Commonwealth Bank of Australia announced dividend of AUD 2.10 per share for the six months ended December 31, 2022. Ex-date is February 22, 2023. Record date is February 23, 2023. Payment date is March 30, 2023. Announcement • Dec 13
Commonwealth Bank of Australia Announces Resignation of Suzannah Fletcher as Company Secretary Commonwealth Bank of Australia (CBA) announced the resignation of Ms Suzannah Fletcher as a Company Secretary of CBA with effect from 13 December 2022. Ms Carmel Mulhern and Ms Vicki Clarkson both remain a Company Secretary of CBA. Recent Insider Transactions • Nov 10
Independent Non-Executive Director recently bought AU$230k worth of stock On the 3rd of November, Lynette Cobley bought around 2k shares on-market at roughly AU$105 per share. This transaction increased Lynette's direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold AU$6.2m more in shares than they bought in the last 12 months. Announcement • Nov 02
Commonwealth Bank of Australia Appoints Managing Directors to Institutional Banking Markets Commonwealth Bank of Australia's (CBA) Institutional Banking Markets (IBM) division has appointed four new managing directors to the leadership team of its recently created Commodities, Trade and Carbon (CTC) business. The new appointments will report to Executive General Manager CTC Alex Toone, as CBA looks to expand its capabilities for clients across commodities finance and trading, trade finance and carbon markets. Martyn Whitehead has joined CBA as Managing Director, Commodities, leading the bank's strategy for its commodities business with a focus on Australia and New Zealand. Mr. Whitehead previously served as Global Co-Head of Commodities Sales at Standard Chartered Bank in London. Joe Arena has joined CBA as Managing Director, Trade Finance, to lead the strategy across the institutional bank's trade finance, working capital and supply chain finance business. Mr. Arena brings over 20 years of experience in leadership roles in trade and working capital across Asia Pacific and most recently served as Country Head of Global Trade and Receivables Finance, Australia at HSBC. Bradley Campbell has been appointed Managing Director, Commodities Trading and will join CBA from the Australian Securities Exchange (ASX) where he served as Acting Co-Head Group Executive, Markets and General Manager, Equities and Commodities. He was previously Head of Commodities Trading in Europe at Standard Chartered. Dr. Yasmina Elshafei completes the appointment of the leadership team for the new CTC business and will join CBA as Managing Director, Global Carbon, with responsibility for the bank's carbon markets business. She was most recently an Executive Director at climate change advisory and investment firm Pollination Group, and prior to that was a Senior Vice President at Macquarie Capital supporting large-scale infrastructure and renewable energy projects internationally. Announcement • Sep 30
Hollard Insurance Company Pty Ltd completed the acquisition of CommInsure General Insurance Business from Commonwealth Bank of Australia (ASX:CBA). The Hollard Insurance Company Pty Ltd entered into an agreement to acquire CommInsure General Insurance Business from Commonwealth Bank of Australia (ASX:CBA) for approximately AUD 630 million on June 21, 2021. The transaction consideration includes AUD 625 million of upfront consideration, together with deferred payments (payable upon achieving certain business milestones) and additional investment from Hollard throughout the 15-year strategic alliance to drive innovation and enhance the customer experience. A pre-completion dividend is also expected to be received by CBA (amount subject to the timing of completion, business performance and regulatory approvals). Completion of the Transaction remains subject to Australian Prudential Regulation Authority approval and is currently expected to occur in mid-calendar year 2022. As of August 28, 2021, the transaction is expected to complete on July 1, 2022. Upon completion, the transaction is expected to deliver an increase of approximately AUD 400 million of Common Equity Tier 1 (CET1) capital, resulting in a pro forma uplift to the Group's CET1 ratio of approximately 9 basis pointsn an Australian Prudential Regulation Authority (APRA) basis, as at March 31, 2021. The Transaction is estimated to result in a post-tax gain on sale of approximately AUD 90 million, which includes estimated post-tax separation and transaction costs of approximately AUD 130 million. Macquarie Group Services Australia Pty Limited acted as the exclusive financial advisor to Hollard as part of the transaction.
Hollard Insurance Company Pty Ltd completed the acquisition of CommInsure General Insurance Business from Commonwealth Bank of Australia (ASX:CBA) on September 30, 2022. Buying Opportunity • Sep 30
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be AU$114, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has grown by 9.6%. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings is also forecast to grow by 3.4% per annum over the same time period. Announcement • Sep 07
Commonwealth Bank of Australia Announces Executive Changes Chair of the Commonwealth Bank of Australia, Mr. Paul O'Malley, announced the appointment of Ms Lyn Cobley to Board of Directors as an Independent Non-Executive Director with effect from 1 October 2022. Ms Cobley brings to the Board over 30 years' experience in financial services. Ms Cobley is also the former Chief Executive Officer of Westpac Banking Corporation's (Westpac) Institutional business, Chair of Westpac's Asia Advisory Board, as well as Group Treasurer of CBA. CBA also wishes to advise that Mr. Shirish Apte, Independent Non-Executive Director of the CBA Board, has decided not to offer himself for re-election at the 2022 Annual General Meeting. Mr. Apte joined the Board in June 2014 and has been a member of the Board Audit Committee and Board Risk & Compliance Committee, and is a former Chair of the Board Risk & Compliance Committee. Mr. Apte will retire from the Board at the conclusion of the 2022 AGM. Recent Insider Transactions • Aug 24
Independent Non-Executive Chairman recently bought AU$130k worth of stock On the 17th of August, Paul O'Malley bought around 1k shares on-market at roughly AU$100 per share. In the last 3 months, there was an even bigger purchase from another insider worth AU$198k. This was Paul's only on-market trade for the last 12 months. Recent Insider Transactions • Aug 19
Independent Non-Executive Director recently bought AU$198k worth of stock On the 12th of August, Peter Harmer bought around 2k shares on-market at roughly AU$99.85 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold AU$1.1m more in shares than they bought in the last 12 months. Announcement • Aug 17
Commonwealth Bank of Australia Announces Executive Changes Commonwealth Bank of Australia announced that Group Executive, Technology and Group Chief Information Officer, Pascal Boillat, will leave the bank in mid-November to return to the Northern Hemisphere to be closer to his family. Gavin Munroe, currently Global Chief Information Officer, Wealth and Personal Banking for HSBC, will assume that role from 14 November 2022. Since joining the bank in 2018, Pascal has led a number of strategic initiatives to considerably strengthen CBA's IT systems, processes and culture to enable to deliver global best digital experiences and technology. Gavin Munroe will take on the role of Group CIO for Commonwealth Bank from 14 November 2022, subject to meeting the regulatory requirements. Gavin Munroe has more than 20 years financial services experience. Most recently, Gavin was the HSBC Global Chief Information Officer for Wealth and Personal Banking, overseeing all aspects of technology across all markets. Since joining HSBC in November 2018, Gavin has worked across retail banking, wealth management, private bank, insurance and asset management businesses, and was responsible for delivering sustainable and safe technology solutions to drive digital transformation. Prior to HSBC, Gavin was with Bank of America Merrill Lynch where he was the Merrill Lynch CIO, accountable for driving the digitisation of Merrill Lynch technology. He also held a number of other senior roles with Bank of America Merrill Lynch, including head of global consumer products, and CIO for Wealth Management Technology teams overseeing its digitisation and modernisation. Gavin has also previously worked for Synechron as MD of Asia Pac, a specialist provider of business technology solutions for capital markets, insurance and mortgage banking, and held the positions of CIO Saxon, a subsidiary of Morgan Stanley, and Head of Technology for the West Coast USA for Wachovia. Gavin has a Bachelor of Science Degree, with dual majors in both Computer Science and Physics, from the University of Port Elizabeth, South Africa. Reported Earnings • Aug 11
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: AU$5.62 (up from AU$4.99 in FY 2021). Revenue: AU$25.5b (up 6.4% from FY 2021). Net income: AU$9.67b (up 9.4% from FY 2021). Profit margin: 38% (up from 37% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.0%. Over the next year, revenue is forecast to grow 2.8%, compared to a 2.0% growth forecast for the banks industry in Australia. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 11% per year. Announcement • Jul 18
Commonwealth Bank of Australia Announces Appointment of Suzannah Fletcher as an Additional Company Secretary Commonwealth Bank of Australia announced the appointment of Ms. Suzannah Fletcher as an additional Company Secretary of CBA with effect from 18 July 2022. Ms. Carmel Mulhern and Ms. Vicki Clarkson remain Company Secretaries of CBA. Ms. Suzannah Fletcher is also jointly appointed with Ms. Vicki Clarkson as the person responsible for communications. Announcement • Jul 01
Hangzhou City Construction Investment Group Limited and Hangzhou Communications Investment Group Co., Ltd. completed the acquisition of 10% stake in Bank of Hangzhou Co., Ltd. (SHSE:600926) from Commonwealth Bank of Australia (ASX:CBA). Hangzhou City Construction Investment Group Limited and Hangzhou Communications Investment Group Co., Ltd. entered into a binding sale agreement to acquire 10% stake in Bank of Hangzhou Co., Ltd. (SHSE:600926) from Commonwealth Bank of Australia (ASX:CBA) for approximately AUD 1.8 billion on March 1, 2022. Commonwealth Bank of Australia has agreed with Bank of Hangzhou Co., Ltd. to retain its remaining shareholding of approximately 5.57% until at least February 28, 2025 (subject to certain exceptions, including if the transaction is terminated prior to completion). As of May 12, 2022, The transaction has been approved by China Banking and Insurance Regulatory Commission. Completion of the Transaction is subject to a number of customary conditions including regulatory approval from the China Banking and Insurance Regulatory Commission, receipt of a confirmation opinion from the Shanghai Stock Exchange and registration of the share transfer by China Securities Depository and Clearing Corporation Limited. The completion of the transaction is currently expected to occur around the middle of calendar year 2022. Upon completion, the transaction is expected to deliver a pro forma uplift to the Commonwealth Bank of Australia’s CET1 ratio of approximately 35 basis points on an Australian Prudential Regulation Authority (APRA) basis. Zhou Zihao, Yan Haoxuan and Hu Yiwei of CSC Financial Co., Ltd. (SEHK:6066) acted as Financial advisor to bank of Hangzhou. Morgan Stanley Group Inc. acted as financial advisor to Commonwealth Bank of Australia.
Hangzhou City Construction Investment Group Limited and Hangzhou Communications Investment Group Co., Ltd. completed the acquisition of 10% stake in Bank of Hangzhou Co., Ltd. (SHSE:600926) from Commonwealth Bank of Australia (ASX:CBA) on June 30, 2022. 
