Commonwealth Bank Of Australia · ASX:CBA
Commonwealth Bank Of Australia — Debt Investor Presentation (August 2026)
63 slides from Commonwealth Bank Of Australia's debt investor presentation, Aug 12, 2026
Slide 1: Fixed Income Investor Discussion Pack
Fixed Income Investor Discussion Pack For the full year ended 30 June 2026 Commonwealth Bank of Australia
Slide 2: Important information
Important information The material in this presentation is general background information about the Group and its activities current as at the date of this presentation, 12 August 2026. It is information given in summary form and does not purport to be complete. It is intended to be read by a profes
Slide 3: Economic overview
Economic overview
Slide 4: Key Australian economic indicators
Key Australian economic indicators 1 (June FY) GDP % Headline CPI % Unemployment rate % Financial year average Year on year, June quarter June quarter average GDP Nominal GDP 6.0 4.2 4.4 4.7 3.6 4.0 3.6 10.1 3.8 3.9 2.2 1.7 5.7 4.8 2.9 2.1 1.4 1.3 4.1 3.6 2023 2024 2025 2026 2027 2023 2024 2025 2026
Slide 5: The Australian economy
The Australian economy Household spending is under pressure as real income growth softens – public sector to support growth Consumption to follow lower income trend1 Savings buffers provide some cushion1 But renters and mortgagees are hurting2 Real annual growth in household income & consumption Hou
Slide 6: Household spend and savings are slowing
Household spend and savings are slowing Salaries and wages1,2 Spending1,3 Savings1,4 Year on year change: Age, years Essentials Discretionary Apr – Jun 26 3.4% 3.5% 4.8% 0.0% Oct – Dec 25 20-24 3.0% 6.7% 2.7% 0.9% 4.8% 5.8% 2.8% 1.9% Apr – Jun 25 3.8% 3.2% 2.6% (0.9%) 25-34 3.0% 6.6% 2.1% 1.0% 5.2%
Slide 7: The Australian economy
The Australian economy Large investment pipeline should limit the slowdown but labour market still softening Investment pipeline continues to rise1 Largely driven by data centres2 Renewables another tailwind in coming years3,4 Capital investment intentions Info, media and telecom real quarterly cape
Slide 8: Housing sector
Housing sector Housing market is softening following higher interest rates, weaker sentiment and tax policy changes National home price growth has turned negative1 Auction clearance rates are dropping sharply1 Construction cost pressure rising after Iran war2 Quarterly growth in dwelling prices Auct
Slide 9: Housing market
Housing market Current context relative to previous housing market corrections Australian housing market corrections1,2 Changes in national dwelling prices1 Building more homes, faster and at lower cost Historic declines from peaks to troughs, Median dwelling price5, Indexed to Jul 19 Median dwellin
Slide 10: Key New Zealand economic indicators (June FY)
Key New Zealand economic indicators (June FY) 1 GDP % CPI % Unemployment rate % Financial year average Year on year, June quarter June quarter average GDP Nominal GDP 5.6 5.2 5.0 6.0 4.7 10.0 3.7 4.1 4.0 3.3 2.7 4.7 3.4 4.4 4.1 2.5 1.1 1.5 2.3 (1.1) 2023 2024 2025 2026 2027 2023 2024 2025 2026 2027
Slide 11: Financial overview
Financial overview
Slide 12: Why CBA?
Why CBA? Leading franchise – strong balance sheet settings – supporting sustainable shareholder returns Retail MFI share1 Home lending share2 Household deposits share2 Business MFI share1 Nearest peer 42.6% 43.4% 13.6% 12.6% 34.2% 18-24 25-34 years years 25.4% 26.4% 26.0% 20.7% 20.6% 19.4% 15.6% 19.
Slide 13: Market share
Market share Disciplined approach – strong market share % Jun 25 Dec 25 Jun 26 Home lending2,9 Household deposits2,9 Home loans – RBA1 24.6 24.6 24.4 CBA Peers CBA Peers Home loans – APRA2 25.3 25.4 25.4 40% 40% Break in series Break in series from Jun 21 from Jun 21 Credit cards – APRA2 28.2 28.1 2
Slide 14: Franchise strength
Franchise strength Consistent, disciplined execution balancing growth, reinvestment and returns Disciplined volume growth Stable margin Track record of pre-provision growth Growth vs system Underlying net interest margin4 5 year CAGR since FY21 12 months to Jun 26 (%) System Peer average5 1.0x 1.0x
Slide 15: Retail Banking Services
Retail Banking Services Stronger, deeper customer engagement driving long - term franchise strength CommBank Retail MFI share2 Retail transaction accounts3 1 in 3 Australians describe CBA Companion Jun 26 as their main financial institution Nearest peer vs Jun 25 +6% >14.3 million daily logins to th
Slide 16: Business Banking
Business Banking Deeper customer relationships and differentiated propositions delivering sustained performance CommBank Business MFI share2 Business transaction accounts 1 in 4 Australian businesses describe CBA Companion as their main financial institution Avg of major +7% #1 vs Jun 25 bank peers
Slide 17: Financials
Financials 1 Cash NPAT up 7% – strong operating income growth supporting investment in the franchise Operating income Operating expenses2 Pre-provision profit Cash NPAT Strong volume growth with broadly Inflation and investment Higher operating income and Strong franchise performance stable underlyi
Slide 18: Balance sheet strength
Balance sheet strength Long - term, conservative approach – well placed for a range of scenarios Deposit funding Long-term funding Liquid assets2 Capital % of total funding Weighted Average Maturity1, yrs Average3, $bn CET1 ratio, Level 2 79% 5.2yrs $191bn 12.0%6 5.1 71% 10.7%5 10.25% APRA 57% 137 m
Slide 19: Credit risk
Credit risk Impairment expense higher reflecting portfolio growth and increased global macroeconomic uncertainty Loan impairment expense Arrears2 Troublesome & non-performing exposures3 Loan loss rate, bpts1 90+ days Corporate, $bn FY24 FY25 FY26 Home loans Personal loans Credit cards % of TCE: 1.11
Slide 20: Credit quality
Credit quality Supporting more Australians during uncertain times Troublesome & non-performing Hardship Provisioning2 exposures1 Number of home loan cases in hardship Total provisions vs Central ECL3 % of TCE Jun 26 0.94% (15%) $6.5bn Recent peak 0.97% $2.7bn 0.89% $3.8bn Jun 25 Dec 25 Jun 26 Jun 24
Slide 21: Loan losses
Loan losses Loan impairment expense remains below historical levels Loan loss rate1 Loan loss rate by business unit1,2 bpts bpts 9 6 20 4 Consumer Corporate 7 4 FY25 FY26 1H26 2H26 41 14 33 25 11 76 8 21 20 19 50 7 6 7 43 16 16 15 15 16 12 5 5 5 24 23 7 9 7 8 3 13 11 20 8 10 14 26 26 15 16 17 19 17
Slide 22: Provisioning
Provisioning 1 Maintaining strong provision coverage during uncertain times Total credit provisions Provisions and scenarios Jun 26 TP/CRWA: 1.29% 1.55%2 1.53%2 $6.5bn 8.3 $6.5bn 6.3 4.8 $2.7bn 3.3 3.5 Corporate above 3.8 central scenario Pre-COVID 3.0 3.0 Consumer $bn $bn Jun 19 Dec 25 Jun 26 Centr
Slide 23: Sequential half operating income
Sequential half operating income 1 Higher income achieved through disciplined franchise growth • Lower Markets trading income • Margin excl. Treasury & Markets +1bpt • Lower retail foreign exchange income; and • Average lending volume growth +3.0% • Non-recurrence of one-off gains in the prior half3
Slide 24: Group margin
Group margin Benefits from hedging and portfolio mix partly offset by ongoing competitive pressures (5) 1 1 3 - 2 204 206 Deposit pricing +1 Cash rate lag +1 Home lending (2) Cash rate lag (2) Business & Insto. lending (1) bpts 1H26 Liquids & Asset Funding Replicating Portfolio Treasury & 2H26 repos
Slide 25: Sequential half operating expenses
Sequential half operating expenses 1 Investment in technology and AI driving higher sequential expense growth Underlying cost to income 44.7% 45.2% +2.4% +0.7% (0.9%) Contribution to mvt: +2.2% 156 47 (58) 6,865 6,720 Cumulative cost savings • Investment in infrastructure, realised (last 8 yrs): res
Slide 26: Cost approach
Cost approach Continued investment in infrastructure, modernisation and AI – mix shift towards productivity and growth Cost reduction Investment spend Cumulative savings1 Examples Capitalised software Continued investment in ($bn) modernisation of technology 3.0 2.6 infrastructure and enhancing 2.1
Slide 27: Investment spend
Investment spend Continued investment in technology to refresh infrastructure and enhance AI capability Investment spend Delivered in FY26 Gross spend Focus of increased investment • Rolling out CommBank Companion $bn Refresh of technology infrastructure: • >20% more technology changes deployed, 2.4
Slide 28: Capital
Capital 1 Strong capital position maintained, supporting franchise growth and dividends Movements in bpts Level 1 12.1% 12.0% 106 (46) (76) (8) 12.3% Credit Risk4 (38) IRRBB (16) 10.25% Market Risk 8 APRA minimum6 Operational Risk - IRRBB RWA ($bn) Jun 26 vs Jun 25 40 (10) 12 42 Jun 25 APS 117 Under
Slide 29: Balance sheet
Balance sheet 1 Disciplined volume growth Group lending Jun 26 vs Jun 26 vs $bn Jun 25 Dec 25 Jun 26 Dec 25 Jun 25 +7.1% Home loans 707.9 730.2 749.2 2.6% 5.8% +3.7% Consumer finance 17.1 17.2 17.4 1.1% 1.9% 1,084.9 Business loans2 194.5 201.6 213.4 5.8% 9.6% 1,013.3 1,046.4 Institutional loans 93.8
Slide 30: Funding, liquidity & capital
Funding, liquidity & capital
Slide 31: Funding overview
Funding overview Long - term conservative funding settings maintained Funding composition Wholesale funding2 Funding profile % of total funding Long-term as % of total wholesale funding $bn Maturity4 FY26 69% 68% 68% Issuance Short-term 7% 7% 7% 45 wholesale1 24% 15% 14% 14% 38 Long-term 43% 32 30 2
Slide 32: Deposit funding
Deposit funding Highest share of customer deposits in Australia – 79% deposit funded Customer deposits vs peers1 Customer deposits by segment4 $bn $bn 956 980 % of total funding 70% 79% 909 ASB & Other 109 105 10% 105 7 yr 161 175 18% CAGR IB&M 159 980 243 252 26% 3% 215 771 745 674 BB 230 581 19% 1
Slide 33: Wholesale funding
Wholesale funding Wholesale funding diversified across differing products, currencies and tenor Portfolio mix Short-term funding by product1,3 Jun 26 32% 68% Short-term funding1 Certificates of deposit 54% Long-term funding2 Dec 25 32% 68% Commercial paper 4 34% Jun 25 31% 69% Dec 24 32% 68% MTN 12%
Slide 34: Total Capital
Total Capital Well placed to meet APRA revised capital framework effective 1 Jan 2027 • Total Capital ratio of 20.8% as at 30 Jun 26, $13.5bn above 1 Jan 27 requirement of 18.25%. • As at 30 Jun 26, Tier 2 was 7.3%. CBA is well positioned to meet APRA requirements under the revised capital framework
Slide 35: Additional Tier 1 Capital
Additional Tier 1 Capital APRA finalised consequential amendments to phase out AT1 Capital effective 1 Jan 2027 APRA Requirements • On 4 Dec 2025, APRA finalised the consequential amendments to bank prudential framework to phase out Additional Tier 1 Capital (AT1) Changes instruments Total Capital •
Slide 36: Capital – regulatory changes
Capital – regulatory changes A number of regulatory changes in progress Change Implementation Details • APRA has outlined three workstreams covering credit risk capital, liquidity risk and market risk. The first consultation, released on 29 Jun 2026, proposes more risk-sensitive treatment to the sta
Slide 37: CET1 – International
CET1 – International APRA’s capital framework is more conservative than Basel framework CET1 International adjustments1 Level 2 Definition of Risk weighting equity investments, deferred tax assets, capitalised expenses which are fully deducted from CET1 1.4% capital under APRA rules 18.3% 1.3% IRRBB
Slide 38: Home & consumer lending
Home & consumer lending
Slide 39: Home loans – overview
Home loans – overview Disciplined strategic and operational execution, targeted growth – focus on sustainable returns Consistent market share performance1 Fundings weighted towards proprietary distribution Fundings mix2 Fundings mix2 Fundings mix3 26% 1% 1% 7% 25% Fixed 23% 22% 21% 41% Broker 33% 33
Slide 40: Home loans – CBA
Home loans – CBA 1 A disciplined approach to portfolio quality, growth and sustainable returns Portfolio1 Jun 25 Dec 25 Jun 26 New business1 Jun 25 Dec 25 Jun 26 Total balances – spot ($bn) 634 659 680 Total funding ($bn)9 85 105 95 Average funding size ($’000)10 490 522 503 Total balances – average
Slide 41: Home loans – serviceability assessment
Home loans – serviceability assessment 1 94% of the book originated under tightened standards since FY16 Key serviceability changes by year2 New loan assessment (from FY16)3 • Increased serviceability buffer and buffers on existing debts • All income used in application to assess serviceability is v
Slide 42: Home loans – borrowing capacity
Home loans – borrowing capacity 1 Borrowing capacity impacted by higher interest rates and Federal Budget tax reform changes Borrowing capacity2 % of applicants with Application gross income band6 Change in maximum borrowing capacity2 – indexed Dec 16 additional capacity to borrow3 6 months to Jun 2
Slide 43: Home loans – resilience
Home loans – resilience 1,2 Stable savings buffers and DLVR Average payments in advance3,4 Offset and redraw balances # of payments $bn % customers in advance3 78% 85% 87% 85% 164 157 35 149 33 32 32 67 63 89 64 Redraw5 44 85 97 94 Offset1 45 Jun 19 Jun 25 Dec 25 Jun 26 Jun 19 Jun 25 Dec 25 Jun 26 H
Slide 44: Home loans – savings and repayment buffers
Home loans – savings and repayment buffers Stable savings and repayment buffers Repayment buffers1 Payments on time1 % of accounts % of accounts Residual 85% 87% 85% Jun 25 Structural: e.g. fixed rate loans % customers Dec 25 New accounts: <1 year on book in advance2 Jun 26 Investment loans: negativ
Slide 45: Home loans – portfolio DLVR
Home loans – portfolio DLVR 1 Portfolio DLVR stable at 41% Dynamic LVR bands2 Negative equity4 % of total portfolio balances Average dynamic LVR3 Jun 25 Proportion of balances in negative equity Jun 25 42% Dec 25 • 68% of customers ahead of repayments 80% Jun 26 • 10% of home loans in negative equit
Slide 46: Home loans – non-performing loans, losses & insurance
Home loans – non- performing loans, losses & insurance 1 Non - performing home loans increased amid higher interest rates – portfolio largely well - secured Australian non-performing home loans2 Australian non-performing, not well-secured home loans2,3 Non-performing home loan balances increased due
Slide 47: Home loans – arrears (90+ days)
Home loans – arrears (90+ days) Arrears increasing as cost - of- living and interest rate pressures affect some borrowers Portfolio Product Repayment and interest type 90+ days Group 90+ days1 Owner occupied 90+ days1 Principal & interest Variable BWA Investment Interest only Portfolio 1.0% 1.0% 1.0
Slide 48: Consumer finance – arrears
Consumer finance – arrears 1 Higher arrears reflecting cost - of- living pressures, deliberate settings across credit, pricing and acquisition mix Credit cards Portfolio Group Portfolio Group Year 2020 BWA BWA 2021 Group 30+ days Group 90+ days Group 90+ days ASB ASB 2022 1.5% 2023 6.0% CBA 2.5% CBA
Slide 49: Business & corporate lending
Business & corporate lending
Slide 50: Total committed exposure
Total committed exposure 1,2 Key sectors of interest TCE ($bn) TNPE ($bn) TNPE % of TCE Provisions % of TCE Jun 25 Dec 25 Jun 26 Jun 25 Dec 25 Jun 26 Jun 25 Dec 25 Jun 26 Jun 25 Dec 25 Jun 26 Government Administration & Defence 185.4 200.5 204.2 0.0 0.0 0.0 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Finance & In
Slide 51: Finance & Insurance
Finance & Insurance Disciplined origination and strong credit quality • The Finance and Insurance sector demonstrated resilience despite market Group exposure Jun 25 volatility, cost pressures and ongoing regulatory change. Demand for Dec 25 banking and insurance services is expected to remain stabl
Slide 52: Commercial Property
Commercial Property Diversified and well - secured portfolio • Over the half, exposure grew 5%. Growth was across sub-sectors and Group exposure Jun 25 geographies. Dec 25 Jun 26 • Residential Property remained the largest contributor to growth, although momentum moderated over the half, reflecting
Slide 53: Agriculture & Forestry
Agriculture & Forestry Well- secured portfolio with sound quality amid mixed conditions • The Agricultural sector remains resilient, underpinned by stronger livestock Group exposure Jun 25 and grain prices, robust demand, diversified markets and production levels Dec 25 that remain above historical
Slide 54: Entertainment, Leisure & Tourism
Entertainment, Leisure & Tourism Resilient consumer spending supporting portfolio growth • CommBank Household Spending Insights Index shows consumer spending Group exposure Jun 25 remaining resilient despite softer sentiment. Dec 25 Jun 26 • Hospitality spending increased 7.0% over the 12 months to
Slide 55: Manufacturing
Manufacturing Resilient sector despite ongoing margin pressures • Manufacturers continue to face supply chain disruption, including shipping Group exposure Jun 25 delays, supply shortages and export challenges arising from geopolitical Dec 25 tensions. Jun 26 Australian dollar volatility is contribu
Slide 56: Wholesale Trade
Wholesale Trade Portfolio broadly stable despite challenging sector conditions • Wholesale Trade conditions remain challenging, with geopolitical tensions Group exposure Jun 25 and supply chain uncertainty driving volatility in freight costs, lead times and Dec 25 product availability. These pressur
Slide 57: Retail Trade
Retail Trade Resilient consumer spending despite cost pressures • Cost-of-living pressures and higher interest rates continue to weigh on Group exposure Jun 25 consumer sentiment. Dec 25 Jun 26 • Population growth, underpinned by net overseas migration, has expanded the consumer base and supported o
Slide 58: Construction
Construction Resilient construction pipeline supporting improved sector conditions • Construction pipelines are near all-time highs1, supported by strong activity Group exposure Jun 25 across infrastructure, renewable energy, data centres, health and aged Dec 25 care, and apartment developments. Jun
Slide 59: Sources, glossary & notes
Sources, glossary & notes
Slide 60: Sources and notes
Sources and notes Slide 13 1. System source: RBA Lending and Credit Aggregates. 2. System source: APRA MADIS. 3. Other household lending market share includes personal loans, margin loans and other forms of lending to individuals. 4. Source: RBA Lending and Credit Aggregates. Business including sele
Slide 61: Sources and notes
Sources and notes Slide 31 1. Includes other short-term liabilities. 2. Represents long-term wholesale funding as a percentage of total funding which includes RBNZ term lending facilities drawdowns where applicable. 3. Represents the Weighted Average Maturity of outstanding long-term wholesale debt
Slide 62: Glossary
Glossary Term Description Term Description Cash Profit The Profit Announcement (PA) discloses the net profit after tax on both a statutory and cash basis. The statutory basis is NPS – Consumer RFI Global Atlas Consumer MFI NPS: Based on Australian population aged 14+ years old rating their likelihoo
Slide 63: Our reporting suite
Our reporting suite Committed to transparent reporting Annual Report Corporate Governance Profit Announcement Pillar 3 Report Statement Investor Discussion Pack Sustainability Performance Metrics GRI and SASB reporting Modern Slavery and Human Trafficking Statement 63
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