CBA

Commonwealth Bank of Australia (CBA)

Fri, 13/06/2008 - 07:23

Stock Code

CBA

Stock Exchange

Australian Securities Exchange

Commonwealth Bank of Australia (CBA) or Commbank is Australia's leading banking group engaged in providing integrated financial services that include business and institutional banking, retail banking, life insurance, superannuation, funds management, general insurance, broking services and other finance company activities clients from institutional, small business owners to individuals. Though CBA is based in Australia, it also has operations in the US, the UK, Singapore, Japan, Grand Cayman, Hong Kong, Fiji, Malta, China, Vietnam and Indonesia.

Commonwealth Bank Reports 1H09 Results


Commonwealth Bank of Australia (CBA) released its 1H09 reports yesterday. The bank posted a 16 per cent drop in first-half profit as bad corporate debts linked to the global financial crisis hit the bottom line. Bad debts soared nearly five-fold to more $1.5-billion. As flagged in Commonwealth's surprise profit upgrade earlier this month, the bank's operating performance was sound, highlighted by a 20 per cent increase in banking income due to fee rises and volume and market share gains.

CBA Announces $2 Billion Profit


Commonwealth Bank of Australia (CBA) has announced that it will earn $2 billion profit in the first half of 2009. The company said that it would outperform market expectations by as much as 20 per cent with interim cash profit as large as $2 billion. The ASX requires listed companies to make public any information which substantially differs from consensus earnings estimates. CBA's announcement comes ahead of its interim results which are scheduled for February 11th.

Disclosures Defended by CBA


Commonwealth Bank (CBA), the largest bank in Australia, defends its highly ranked executives in breach of disclosure rules during the issue of $2 billion capital raising. CBA disagreed by saying that, rules were not broken when it warned a small group of shareholders regarding the bad debt raise before a public announcement. The bank said that the information was not materially significant so there was no need to warn the public earlier.

Westpac to Raise Capital


Australia’s third largest banking corporation, Westpac (WBC) has decided to raise its capital by A$2.5 billion through a share sale on Tuesday, to strengthen its balance sheet due to the acquisition of St George Bank (SGB), which does not have a sound lending books and raise in bad debt charges. This move follows a capital raising by National Australia Bank (NAB) last month.

Australian Wealth Management (AUW) News Update


Here is an update on the Australian Wealth Management (AUW) provided by Australian market analyst UBS.

Australian Wealth Management (AUW) Markets impact Q108 FUM, Q2 looking flat

Retail FUM down 9% in the quarter:

Australian Banking Sector News Update


The Australian Banks underperformed the market by 0.7%.The Macquarie Research Equities (MRE) highlights about the Australian Banking Sector Impacts.

Which Banks to Support?

The Australian Banks underperformed the market by 0.7% last week, yet still trade well below their November 2007 highs. Macquarie Research Equities (MRE) highlight their sector picks as WBC and CBA given stronger balance sheets, low risk loan portfolio’s and lower exposure to offshore earnings. MRE assess the week in passing and reaffirm their sector guidance…

Australian Banking Sector Preview


Australian Banking Sector reporting season preview from Australian market analyst UBS.

Start scooping up banks. Mild overweight.

Recent price falls provide a buying opportunity:

The Aussie banks have seen a sharp pull back in recent weeks following their global peers. We believe that this has been driven by: (1) concerns for the health of the US investment banks into their reporting season; and (2) overhang from the current global bank rights issues. As a result the Australian banks have now underperformed the All Resources by 46% over the last year.

Commonwealth Bank (CBA) Update


Commonwealth Bank (CBA) has a share price target of $50.00 from Australian stockmarket analyst Macquarie Research Equities.

Commonwealth Bank (CBA) Upgrade to Buy

Upgraded to Buy following significant underperformance YTD:

Year to date CBA has fallen 26%, underperforming the market by 15% and the banking sector by 6%. CBA is now trading at 11.2x FY09E PE, 1.3 standard deviations below its LT average of 13x. We see this as a good opportunity to begin accumulating CBA.

Risk from "bad boys" decreasing:

Australian Banking Sector News Update


MRE aggressively downgraded Australian banking sector earnings in April this year following the March half-year reporting season.

Which Bank?

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Top 50 Public Companies Listed on the Australian Stockmarket as at 29/05/2009

  1. BHP Billiton
  2. Westpac Banking Corporation (WBC)
  3. Commonwealth Bank of Australia (CBA)
  4. National Australia Bank (NAB)
  5. Telstra (TLS)
  6. ANZ
  7. News Corporation (NWS)
  8. Woolworths Limited(WOW)
  9. Woodside Petroleum Limited (WPL)
  10. Rio Tinto
  11. Westfield Group (WDC)
  12. Westfarmers Limited (WES)
  13. QBE Insurance
  14. CSL
  15. Newcrest Mining Limited (NCM)
  16. Origin Energy Limited (ORG)
  17. Santos Limited (STO)
  18. AMP Limited (AMP)
  19. Maquarie Group (MQG)
  20. Foster’s Group Limited (FGL)
  21. Brambles Limited (BXB)
  22. Fortescue Metals (FMG)
  23. Lihir Gold Limited (LGL)
  24. AXA Asia Pacific Holdings Limited (AXA)
  25. Insurance Australia Group Limited (IAG)
  26. Suncorp-Metway Limited (SUN)
  27. Orica Limited (ORI)
  28. Coal & Allied (CNA)
  29. Stockland (SGP)
  30. Leighton Holdings (LEI)
  31. Lion Nathan Ltd (LNN)
  32. Coca-Cola Amatil Limited (CCL)
  33. AGL Energy Limited (AGK)
  34. Oil Search Limited (OSH)
  35. ASX (Australian Securities Exchange)
  36. Crown (CWN)
  37. WorleyParsons (WOR)
  38. Transurban Group (TCL)
  39. Computershare Limited (CPU)
  40. Toll Holdings Limited (TOL)
  41. Energy Resources of Australia (ERA)
  42. Sonic Healthcare Limited (SHL)
  43. Tabcorp Holdings (TAH)
  44. GPT Group (GPT)
  45. Qantas Airways Limited (QAN)
  46. Amcor Limited (AMC)
  47. Incitec Pivot (IPL)
  48. Australian Foundation Investment Company (AFI)
  49. Sims Group Limited (SGM)
  50. CFS Retail Property Trust (CFX)
  51. Telecom Corporation of New Zealand (TEL)
  52. New Hope Corporation Limited (NHC)
  53. Macquarie Airports (MAP)
  54. OneSteel Limited (OST)
  55. DEXUS Property Group (DXS)
  56. Argo Investments (ARG)
  57. BlueScope Steel (BSL)
  58. Caltex Australia Limited (CTX)
  59. Metcash Trading Limited (MTS)
  60. Lend Lease Corporation Limited (LLC)
  61. Macquarie Infrastructure Group (MIG)
  62. Paladin Energy (PDN)
  63. Fletcher Building (FBU)
  64. Harvey Norman Holdings (HVN)
  65. Tatts Group (TTS)
  66. Cochlear Limited (COH)
  67. Alumina (AWC)
  68. OZ Minerals (OZL)
  69. Arrow Energy (AOE)
  70. Fairfax Media Limited (FXJ)
  71. Nufarm Limited (NUF)
  72. Aquarius Platinum (AQP)
  73. Washington H Soul Pattison & Company (SOL)
  74. Boral (BLD)
  75. Felix Resources (FLX)
  76. Equinox Minerals (EQN)
  77. Platinum Asset Management Limited (PTM)
  78. CSR
  79. SP AusNet (SPN)
  80. Primary Health Care (PRY)
  81. Mirvac Group (MGR)
  82. Ramsay Health Care (RHC)
  83. Reece Australia (REH)
  84. Billabong International Limited (BBG)
  85. Aneka Tambang (Persero) Tbk (Pt) (ATM)
  86. Sino Gold Mining (SGX)
  87. Aristocrat Leisure (ALL)
  88. James Hardie Industries N.V. (JHX)
  89. Bendigo and Adelaide Bank Limited (BEN)
  90. David Jones (DJS)
  91. Goodman Fielder (GFF)
  92. Centamin Egypt (CNT)
  93. United Group (UGL)
  94. Consolidated Media Holding (CMJ)
  95. ABB Grain (ABB)
  96. Downer EDI Limited (DOW)
  97. Auckland International Airport (AIA)
  98. Brickworks (BKW)
  99. Australian Worldwide Exploration (AWE)
  100. Duet Group (DUE)
  101. Commonwealth Property Office Fund (CPA)
  102. Adelaide Brighton (ABC)
  103. APA Group (APA)
  104. Bank of Queensland (BOQ)
  105. SKY Network Television (SKT)
  106. JB Hi-Fi (JBH)
  107. Seek (SEK)
  108. Iluka Resources Limited (ILU)
  109. Macquarie Communications Infrastructure Group (MCG)
  110. Milton Corporation (MLT)
  111. Singapore Telecommunications (SGT)
  112. SKYCITY Entertainment Group (SKC)
  113. Extract Resources (EXT)
  114. Riversdale Mining (RIV)
  115. Perpetual Limited (PPT)
  116. Whitehaven Coal (WHC)
  117. Aquila Resources (AQA)
  118. Macarthur Coal (MCC)
  119. Challenger Financial Services Group Limited (CGF)
  120. Fisher & Paykel Healthcare Corporation (FPH)
  121. Ansell Limited (ANN)
  122. Spark Infrastructure Group (SKI)
  123. Transfield Services (TSE)
  124. Karoon Gas Australia (KAR)
  125. Seven Network Limited (SEV)
  126. Campbell Brothers Limited (CPB)
  127. Energy World Corporation (EWC)
  128. ING Office Fund (IOF)
  129. Infigen Energy (IFN)
  130. Healthscope (HSP)
  131. Asciano Group (AIO)
  132. TOWER Australia Group (TAL)
  133. Navitas (NVT)
  134. Ten Network Holdings (TEN)
  135. Wotif.com Holdings (WTF)
  136. AngloGold Ashanti (AGG)
  137. Austar United Communications Limited (AUN)
  138. IOOF Holdings (IFL)
  139. Air New Zealand Limited (AIZ)
  140. Linc Energy (LNC)
  141. Warehouse Group (WHS)
  142. Macquarie Office Trust (MOF)
  143. Sigma Pharmaceuticals Limited (SIP)
  144. Zimplats Holdings (ZIM)
  145. IRESS Market Technology Limited (IRE)
  146. Monadelphous Group (MND)
  147. Silex Systems (SLX)
  148. Western Areas NL (WSA)
  149. West Australian Newspapers Holdings Limited (WAN)
  150. Centennial Coal Company (CEY)