Commonwealth Bank’s Profit Growth Slows, But Still on Track for Solid FY17. AUD 85 FVE Unchanged
Our long-term fundamental view on wide-moat Commonwealth Bank is unchanged despite the softer-than-expected unaudited third-quarter fiscal 2017 cash profit of AUD 2.4 billion. Our base-case assumptions are intact: we see credit growth slowing but remaining positive; loan quality remaining sound despite modestly higher loan losses as interest rates normalise; tight expense control supporting improved operational efficiency, higher regulatory capital requirements pressuring returns on equity, or R...Commonwealth Bank of Australia provides integrated financial services including retail, business and institutional banking, funds management, superannuation, life insurance, general insurance, broking services and finance company activities. Co. operates in seven segments, Retail banking Services, Business and Private Banking, Institutional Banking and Markets, Wealth Management, New Zealand, Bankwest, as well as International Financial Services and Other Divisions. As of June 30 2016, Co. had total assets of A$933.1 million and total deposits of A$588.0 million.
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