CBA’s result beat analyst expectations as CEO says economy remains resilient despite cost-of-living pressures
has defied a slowing economy to post a $9.8bn full-year cash profit in a robust result delivered against a backdrop of rising household costs and mortgage stress.
CBA’s chief executive, Matt Comyn, said that while many Australians were challenged by cost-of-living pressures and were experiencing falling levels of disposable income, the economy remained resilient. The value of “past due” home loans increased from $14.8bn to $17.6bn over the financial year, the results show. Credit card and personal loan arrears also jumped in a reflection of the “impact of higher interest rates and cost-of-living pressures on some borrowers”.
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