Matt Comyn News

26.03 / 02:05

markets UPS CEO country reports Australia bank CEOs call for a fix to housing shortage

SYDNEY (Reuters) -Australia's housing shortage may be driving prices higher but is locking out first-time homeowners and migrants needed to fill skills shortages across the country, the CEOs of Australia's three largest banks said on Tuesday.

14.02 / 03:53

markets COST UPS CEO country strain Australia's biggest bank warns of economic downside as profit dips

By Sameer Manekar and Praveen Menon

14.02 / 03:53

markets COST Target economy wellness strain Australia’s big four banks sink after CBA warns of ‘financial strain’

Investing.com-- Shares of Australia’s four largest banks fell on Wednesday, with Commonwealth Bank Of Australia (ASX:CBA) in the lead after the country’s largest lender warned of worsening margins due to increased economic pressure from high interest rates.

14.11 / 08:19

FIVE Booking Fighting Immunic show reports CBA boss keeps his cool as deposit squeeze arrives

Commonwealth Bank’s profit margin was squeezed further last quarter, but this time the culprit was growing competition for deposits rather than aggressive mortgage pricing, chief executive Matt Comyn said, as savers chased better returns on their money.

31.10 / 06:35

Provident Booking Strategy show reports Time CBA loan book shrinks three months running, the first time in decades

Commonwealth Bank’s mortgage book has shrunk for the third month in a row, an unprecedented loss of share for the country’s largest lender.

11.10 / 02:59

CEO Gap Assurant Align PwC voice Support CBA chairman defends the bank’s support of the Voice

Commonwealth Bank chairman Paul O’Malley said a $2 million contribution to the Yes campaign for a Voice to Parliament is consistent with the bank’s values, after some shareholders argued it should not be allocating bank capital to support what they considered a political campaign.

10.10 / 12:13

Provident Lowe's Digital Google Apple Bill New RBA powers to regulate Apple, Google payments

The Albanese government is moving to regulate Apple Pay, Google Pay and other new digital payment services by expanding the Reserve Bank’s powers, with draft legislation to be released on Wednesday.

20.09 / 05:35

COST UPS FIVE Digital country Bankers battle against regional branch mandate

More branch closures are on the way for regional Australians after the big four bank chief executives battled against a push from Senators to mandate a minimum rural network, and CBA argued the annual $1 billion cost of maintaining its branch footprint was unsustainable given the declining use of cash.

14.09 / 00:01

MET Digital CEO ANZ Haynes The UK answer to the banks’ regulation strangulation problem

Westpac CEO Peter King and Australian Banking Association CEO Anna Bligh met Treasurer Jim Chalmers on Wednesday evening to ask the federal government to implement a new policy the banks are calling the “regulatory grid”.

15.08 / 15:27

UPS Progressive Aware audience CBA’s big bet on women’s sports pays off

Commonwealth Bank made a huge bet in 2016 – to terminate its multi-year deal with the Australian men’s cricket team worth up to $50 million, but keep its sponsorship of the women’s game.

10.08 / 07:59

COST Booking CEO ANZ CBA profit ‘uninspiring’ as ANZ walks back cashback

Commonwealth Bank’s $10.2 billion profit was denounced as “uninspiring” by banking analysts, undermining the Greens’ argument for a new super profit tax to rein in corporate oligopolies as bank margins suffer from further degradation.

10.08 / 02:25

Provident Extreme Platform Action Align ‘Gas corps should be sweating’: CBA’s new fossil fuel lending rules

Commonwealth Bank is lifting the bar on oil and gas producers’ access to financing, requiring fossil fuel producers to provide detailed plans that disclose carbon emissions through the supply chain.

09.08 / 19:23

COST Lowe's Waters stage CBA defends $10b profit, rejects ‘tycoon tax’

Commonwealth Bank chief executive Matt Comyn has defended the bank’s record $10.2 billion annual profit against claims of profiteering, saying it will fortify the balance sheet to support struggling borrowers.

09.08 / 00:05

UPS Target Action awards performer CBA boss Comyn gets $10.4m pay packet

Commonwealth Bank boss Matt Comyn’s take-home pay swelled nearly 50 per cent to $10.4 million in the 2023 financial year as his long-term bonuses finally vested.

08.08 / 23:15

COST Citi ANZ country Australia's CBA posts record annual profit; sees margin impact from competition

By Sameer Manekar

08.08 / 22:25

COST UPS CBA posts $10.2b profit, margins sliding

Commonwealth Bank has lifted full-year cash profits 6 per cent to a record $10.16 billion, propelled by higher official interest rates and in line with expectations, even as net interest margins suffered in the second half due to increasing loan competition and funding costs.

26.07 / 07:35

COST UPS Lowe's CBA swings the axe on staff; job cuts across the board

Commonwealth Bank is following in the footsteps of its peers, setting the wheels in motion for a sizeable round of staff cuts.

17.07 / 03:39

COST UPS Lowe's Target Fighting Support Peak interest rate to support Bullock, says Comyn

Commonwealth Bank chief executive Matt Comyn says incoming Reserve Bank governor Michele Bullock’s job will be easier than it was for Philip Lowe, given the cash rate is forecast to peak after one more interest rate increase.

13.07 / 10:19

Booking CEO ANZ Slowdown hurting young renters more than mortgage holders: Comyn

Commonwealth Bank chief executive Matt Comyn says younger people and renters are feeling the sharpest financial stress in Australia, as higher interest rates and inflation start to grind the economy to a near halt.

01.06 / 04:17

business Stablecoin Banks Speculation Aussie banks ANZ and NAB won’t 'endorse' retail speculation on crypto

Executives at two of Australia’s “big four” banks have ruled out allowing retail customers to trade cryptocurrency on their platforms, with one reasoning that customers don’t understand “basic financial well-being.”

31.05 / 14:51

Blockchain Provident Gemini Bitcoin CBA presses pause on crypto pilot

The bank said in November that it had partnered with crypto exchange and custodian, Gemini, and blockchain analysis firm, Chainalysis to design a service that will be offered to customers through a new feature in the app. A pilot programme was initiated that provided access to up to ten selected crypto assets including Bitcoin, Ethereum, Bitcoin Cash and Litecoin.

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