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| Name | CBA warns of mortgage arrears as bank posts record profit | The Business | ABC News |
| Video Uploader | Video From ABC News (Australia) |
| Upload Date | This Video Uploaded At 09-08-2023 04:45:05 |
| Video Discription | Commonwealth Bank boss Matt Comyn tells Kirsten Aiken says thousands of home loan borrowers are in financial trouble and he expects the Reserve Bank to cut interest rates next year. The bank also expects mortgage arrears to increase over the coming year and has warned of growing "downside risks" for the economy. CBA has posted a record profit of $10.2 billion, up 5 per cent on last financial year. CBA attributed the rise in earnings mainly to a 0.17 percentage point jump in net interest margins, which is essentially the gap between what the bank pays to borrow money and the interest rates it receives from lending it out. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2023-08-09/commonwealth-bank-annual-profits-financial-year-2023/102705782 ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: https://ab.co/2kxYCZY Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 Like ABC News on Facebook: http://facebook.com/abcnews.au Follow ABC News on Instagram: http://instagram.com/abcnews_au Follow ABC News on Twitter: http://twitter.com/abcnews Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia |
| Category | News & Politics |
| Tags | Australia | abc | abc news | news | reserve bank | rba | interest rates | rates | rate hikes | rate rises | cash rate | mortgages | inflation | mortgage cliff | fixed rates | variable rates | home loan | home loans | housing | property | borrowers | commbank | CBA | business news | finance | finance news | australia news | economy | economic news | profits | corporate profit | propoerty | investors | dividends | shareholders | Commonwealth Bank | kirsten aiken | matt comyn |
