Commonwealth Bank Of Australia · ASX:CBA
Commonwealth Bank Of Australia — Debt Investor Presentation (February 2017)
69 slides from Commonwealth Bank Of Australia's debt investor presentation, Feb 15, 2017
Slide 1: Debt Investor Update
Debt Investor Update For the Half Year Ended 31 December 2016 COMMONWEALTH BANK OF AUSTRALIA | ACN 123 123 124 | 15 FEBRUARY 2017
Slide 2: Disclaimer
Disclaimer Disclaimer The material in this presentation is general background information about the Group and its activities current as at the date of the presentation, 15 February 2017. It is information given in summary form and does not purport to be complete. It is not intended to be relied upon
Slide 3: Agenda
♦ Half year results ♦ Funding & Capital ♦ Strategy ♦ Credit quality ♦ Economics
Slide 4: CBA Overview
CBA Overview Australia NZ Other Total People, Customers 13.5m 2.3m 0.5m 16.3m Customers & Staff 41,500 5,700 4,500 51,700 Delivery Branches 1,130 131 123 1,384 ATMs 4,417 435 169 5,021 Retail #1 Customer Business = #1 Satisfaction Internet Banking #1 Main Financial Institution (MFI) #1 Market Home L
Slide 5: Half Year to 31 December 2016
1 1 Half Year to 31 December, 2016 To excel at securing and enhancing Financials Cash earnings ($m) 4,907 2% the financial wellbeing of ROE (Cash) 16.0% (130) bpts people, businesses and communities Cash EPS ($) 2.86 - Integrity DPS ($) 1.99 1 cent Accountability Cost-to-Income 43.3% 120 bpts Collab
Slide 6: Business Unit Summary
Business Unit Summary Divisional Contributions 1H17 vs 1H16 Operating Operating % of LIE Cost-to- Business performance performance Cash Group LIE Costs Income Unit 1 NPAT $m NPAT Dec 16 $m pcp change Retail Banking Services 50% 3,868 9% (350) 14% 9% 2% 31% Business & Private Bank 16% 1,196 2% (64) (
Slide 7: Volume and Income growth
Volume and Income growth 1 Balance Growth – 6 months to Dec 16 5.2% 6.1% 5.1% 4.2% 4.5% 3.2% 3.4% 3.1% 3.0% 2.3% 6 mths to Dec 16 6 mths to Dec 16 6 mths to Dec 16 6 mths to Dec 16 6 mths to Dec 16 Balance Growth – 12 months to Dec 16 12.7% 10.1% 9.1% 7.5% 7.5% 7.7% 6.5% 5.6% 4.9% 5.2% Household ASB
Slide 8: Underlying income up 3%
Underlying income up 3% Total Operating Income $m Trading: Funds Mgt: ↓3% Volume: ↑ 5% +$104m Insurance: ↓19% Margin: ↓ 4bpts +6% 13,126 +7% (8%) 397 173 (122) +3% +4% 12,729 316 12,362 Underlying Banking +5% 1H16 Net Other Funds 1H17 Visa 1H17 Interest Banking & Underlying Income Income Insurance 8
Slide 9: Expenses
Expenses Total Operating Expenses $m +1% 393 +9% 5,677 29 43 2 5,284 5,210 Cost-to-Income (%) 43.8 42.9 42.2 42.1 41.5 1H13 1H14 1H15 1H16 1 1H17 Underlying 1H16 Staff Amortisation Other 1H17 Accelerated 1H17 Underlying Amortisation 1. 1H16 restated to conform to presentation in the current period 9
Slide 10: Continuing to Invest
Continuing to Invest Investment Gross Investment Spend Investment Spend $m % of total 1,373 1,286 Branches 1,237 11% 1,182 1,246 12% 12% & Other 692 28% Risk & 2nd Half 639 36% 36% Compliance 655 593 651 60% Productivity 1st Half 681 52% 53% & Growth 647 582 589 595 600 Expensed 255 299 277 FY12 FY1
Slide 11: Margin – 6 months
Margin – 6 months bpts 213 215 214 211 (3) Deposits (2) Wholesale Jun 15 Dec 15 Jun 16 Dec 16 3 2 (5) (1) (2) 214 209 211 2H16 Asset Funding Portfolio Capital & Sub Treasury 1H17 Pricing Costs Mix Other Total & Markets 11
Slide 12: Credit quality
Credit quality Loan impairment expense1 Consumer arrears2 bpts Consumer 90+ days 1.46% 19 18 18 18 18 73 17 Personal FY12 FY13 FY14 FY15 FY16 1H17 Loans 1.09% 1.28% Seasonally lower – Corporate 41 0.99% still elevated in WA 24 23 20 13 11 14 Credit Cards 0.91% 25 FY12 FY13 FY14 FY15 FY16 1H17 0.88%
Slide 13: Corporate credit quality
Corporate credit quality Corporate Portfolio Quality Impaired Assets to GLAs % of book rated investment grade CBA 68.8 68.3 69.8 69.9 69.8 68.7 68.7 Peer 1 500 Peer 2 TCE ($bn) Peer 3 2.0% 400 Other 300 BBB 1.0% 200 A 100 AAA/AA 0 0.0% Dec 13 Jun 14 Dec 14 Jun 15 Dec 15 Jun 16 Dec 16 FY09 FY10 FY11
Slide 14: Provisions
Provisions Individual Provisions Collective Provisions $m $m 2,801 2,818 2,807 Economic Overlay 695 Overlay 774 756 unchanged 1,017 187 944 232 181 909 Bankwest 212 209 219 195 1,077 1,059 Consumer 983 132 169 558 566 610 Corporate 812 859 811 Dec 15 Jun 16 Dec 16 Dec 15 Jun 16 Dec 16 14
Slide 15: Funding & Capital
♦ Half year results ♦ Funding & Capital ♦ Strategy ♦ Credit quality ♦ Economics
Slide 16: Funding Overview
Funding Overview Source of funds Source of funds Use of funds 6 Months to Dec 16 6 Months to Dec 16 $bn (14) (2) 22 7 (18) 23 (19) 1 Equity Customer Short term 2,3 New long term 4 Long term 4 IFRS MTM & FX Lending Other Assets deposits funding funding maturities Funding Composition Issuance $bn 31 3
Slide 17: Deposit funding
Deposit funding Deposits v Peers1 Strong growth across divisions 1H17 v 1H16 December 2016 ($bn) 462 30% Group 18% 402 17% 16% Other 11% deposits 221 10% 315 208 259 RBS BPB IB&M BWA NZ 2 196 Retail Deposit Mix 147 $bn Household deposits +7% 241 194 247 231 50 Transactions3 +30% 119 112 39 65 67 Onl
Slide 18: Wholesale funding - Overview
Wholesale funding - Overview Wholesale Funding by Product Average Long Term Funding Costs Margin to BBSW (bpts) Predicted LT Vanilla MTN 200 32% funding costs 175 if current market CDs 15% rates remain 150 unchanged CP 12% 125 Covered Bonds 12% 100 2 FI Deposits 9% 75 Structured MTN 6% Portfolio Run
Slide 19: Long Term wholesale maturity profile
Long Term wholesale maturity profile $bn Issuance Maturity 45 Weighted average maturity 4.2 years 40 39 38 35 7 7 New Issuance Range 31 30 2 6 25 22 2 20 5 8 15 8 32 31 15 29 4 7 24 25 10 21 17 13 14 12 5 8 Jun 14 Jun 15 Jun 16 Dec 16 Jun 17 Jun 18 Jun 19 Jun 20 Jun 21 Jun 22 > Jun 22 Long Term Whol
Slide 20: Liquidity Coverage Ratio
Liquidity Coverage Ratio LCR 135% at 31 Dec 2016 Committed Liquidity Facility reduced by $7.5bn on 1 Jan 2016 The Group’s Net Stable Funding Ratio (NSFR) is currently above 105% Net Cash Outflows and LCR Qualifying Liquid Assets1 $bn 123% 120% 135% 155 Customer deposits 140 Cash, Gov, Semis 13
Slide 21: Capital levels and ROE
Capital levels and ROE Capital Management Return on Equity CET1 378% 16.0% Assets 121% 2007 2009 2011 2013 2015 1H17 2008 2010 2012 2014 2016 1H17 21
Slide 22: International CET1 ratios
International CET1 ratios G-SIBs in dark grey 20.4 APRA top quartile 1 15.4 15.0 14.9 14.7 14.5 14.4 14.1 14.0 14.0 14.0 13.4 13.0 12.6 12.6 12.5 12.5 12.4 12.3 12.2 12.1 12.1 12.1 12.0 11.9 11.6 11.3 11.1 11.0 11.0 11.0 11.0 10.8 10.8 10.7 10.4 10.4 China Construct. Bank Standard Chartered China Me
Slide 23: Capital and Leverage
Capital and Leverage Common Equity Tier 1 (CET1) Leverage Ratio bpts 15.4% Leverage ratio introduced to constrain the build-up of leverage in the banking system. Scheduled to be introduced as a minimum 10.6% (80) requirement from 1 January 2018. 112 (28) 9.9% (74) Leverage ratio = Tier 1 Capital Tot
Slide 24: APRA and International Comparison
APRA and International Comparison The following table provides details on the differences, as at 31 December 2016, between the APRA Basel III capital requirements and internationally comparable capital ratio1. CET1 APRA 9.9% Balances below prescribed threshold are risk weighted, compared to a 100% C
Slide 25: Increased Dividend
Increased Dividend cents per share 198 198 199 183 164 132 137 113 113 120 84% 71% 70% 70% 71% 70% 63% 63% 62% 62% 1H08 1H09 1H10 1H11 1H12 1H13 1H14 1H15 1H16 1H17 Cash NPAT Payout Ratio 25
Slide 26: Regulatory Change
Regulatory Change 2017 2018 2019 2020 APRA APRA comments Leverage ratio Nov 2015: “.. the FSI recommended the Disclosure only Implementation implementation of a domestic TLAC framework … However, Australia should Response to FSI Implementation from 1 Jul 2016 – increase in mortgage risk weights. not
Slide 27: Strategy
♦ Half year results ♦ Funding & Capital ♦ Strategy ♦ Credit quality ♦ Economics
Slide 28: Our Vision, Values and Strategy
Our Vision, Values and Strategy Our Vision Our Values To excel at Integrity securing and enhancing Accountability Collaboration the financial wellbeing of Excellence people, businesses and communities Service Strategic Capabilities People Productivity Technology Strength 28
Slide 29: Customer satisfaction opportunity
Customer satisfaction opportunity Retail Customer Satisfaction By Age % Satisfied ('Very Satisfied' or 'Fairly Satisfied') 45.9% 43.0% #1 19 consecutive 42.4% CBA months MFI Share 66.5% Peers Dec 06 Dec 16 Overall – “Major Financial Institution” 30.2% 33.8% 28.5% 19.1% 13.7% 11.9% Dec 16 26.6% Dec 1
Slide 30: Branches remain key
Branches remain key Home loans - Proprietary % of Total flow 57% 55% 54% 48% 48% 46% Market Dec 15 Jun 16 Dec 16 Customer Relationships Efficiency 68k Customer insights each week New format – 88 locations 32k Financial Health Checks each week 50% reduction in branch space 24k Video-confere
Slide 31: The digital revolution
The digital revolution Channel Usage Branch 130 (deposits & withdrawals) m 1H17 - By Number 56 65% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1H17 X2 ATM1 24% (all transactions) m 325 257 9% 2% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1H17 Bran
Slide 32: Continuous Innovation
Continuous Innovation Blockchain Digital & Analytics Payments First interbank open account transaction Landmark partnerships with Alipay and Barclays Empowering clients with First global insights based on real-time government bond trial customer behaviours Albert and Pi 32
Slide 33: Market share
1 Market share % Dec 16 Jun 16 Dec 15 Home Loan Market Share Home loans 25.4 25.3 25.1 Credit cards – RBA2 24.3 24.4 24.4 Other household lending3 16.9 16.8 16.9 27% Household deposits4 29.0 29.2 29.0 Business lending – RBA 16.6 16.9 17.0 25% 25.4% Business lending – APRA 18.6 18.7 18.7 23.3% Busine
Slide 34: CBA in Asia and South Africa
CBA in Asia and South Africa China ♦ Bank of Hangzhou (18%): 189 branches ♦ Qilu Bank (20%): 120 branches ♦ County Banking (Henen & Hebei): - 15 branches (10 @ 100% holding, 5 @ 80% holding) - 8 sub-branches (2 @ 100% holding, 6 @ 80% holding) ♦ CBA Beijing, Shanghai and Hong Kong branches ♦ BoCommL
Slide 35: Credit quality
♦ Half year results ♦ Funding & Capital ♦ Strategy ♦ Credit quality ♦ Economics
Slide 36: Credit exposures by industry
Credit exposures by industry TCE TIA $m TIA % of TCE Jun 16 Dec 16 Jun 16 Dec 16 Jun 16 Dec 16 Consumer 54.9% 54.8% 1,405 1,409 0.24% 0.24% Sovereign 9.0% 9.5% - - - - Property 6.6% 6.7% 544 630 0.79% 0.87% Banks 6.8% 6.3% 10 9 0.01% 0.01% Finance – Other 5.2% 5.1% 64 58 0.12% 0.10% Retail & Wholesa
Slide 37: Sector exposures
Sector exposures Exposures by Industry Top 20 Commercial Exposures BBB+ BBB- AAA A+ A- TCE $bn to Other Dec 16 to AA- to A- A- BBB- BBB+ BBB- Sovereign 95.9 6.7 0.1 0.3 103.0 A+ AAA BBB Property 2.0 5.6 14.9 49.5 72.0 AA- A- Banks 30.4 27.8 7.9 2.4 68.5 A A+ A+ Finance - Other 22.1 22.1 8.1 3.0 55.3
Slide 38: Home loan portfolio - Australia
Home loan portfolio - Australia Dec Jun Dec Dec Jun Dec Portfolio1 New Business1 15 16 16 15 16 16 Total Balances - Spot ($bn) 393 409 423 Total Funding ($bn) 50 51 53 Total Balances - Average ($bn) 388 395 416 Average Funding Size ($’000) 302 299 311 Total Accounts (m) 1.7 1.8 1.8 Serviceability Bu
Slide 39: Growth profile – Australian home loans
Growth profile – Australian home loans Balance Growth State Profile 1H17 Balance Growth % of Portfolio $bn 53 15 (46) 6% (8) 423 409 17% 33% 5.6% 18% 4.2% 26% 3.6% 1.2% 1.5% Jun 16 New Redraw & Repayments External Dec 16 NSW/ACT VIC/TAS QLD WA SA/NT Fundings Interest / Other Refinance Determined by
Slide 40: Growth profile – RBS home loans
Growth profile – RBS home loans Home Loan Balances Broker Share of Fundings1 $bn 54% 52% 52% 52% 14 (43) 51% 47 (6) 357 50% 345 47% 45% 46% 43% 42% 40% 39% 38% Jun 16 New Redraw & Repayments External Dec 16 Dec 13 Jun 14 Dec 14 Jun 15 Dec 15 Jun 16 Dec 16 Fundings Interest / Other Refinance Market C
Slide 41: Consumer arrears - Group
Consumer arrears - Group Consumer Portfolios Home Loans 90+ days Personal Loans 90+ days Bankwest 2.0% 2.0% Credit Cards RBS Home Loans ASB 1.0% 1.0% 0.0% 0.0% Dec 13 Jun 14 Dec 14 Jun 15 Dec 15 Jun 16 Dec 16 Dec 13 Jun 14 Dec 14 Jun 15 Dec 15 Jun 16 Dec 16 Credit Cards Personal Loans 90+ days Bankw
Slide 42: WA arrears impacted by mining downturn
WA arrears impacted by mining downturn Home Loan Arrears 90+ days % 1.2 Australian balances WA Mining Towns 1% WA 1.00% Higher Risk Locations: Increased provisions 0.8 Rigorous stress testing Credit policy tightening o LVR caps Portfolio 0.53% 0.4 o Insurance requirements 0 Dec 13 Dec 16 42
Slide 43: Investor home loans – Australia
Investor home loans – Australia Arrears New Business Profile (%) 1.00% 90+ days Owner Occupied 3 2 1 Line of Credit Portfolio 0.80% 31 33 Investment Loan 37 Investor 0.60% 0.40% 66 65 62 Owner Occupied 0.20% 0.00% Dec 13 Jun 14 Dec 14 Jun 15 Dec 15 Jun 16 Dec 16 1H16 2H16 1H17 Borrower Profile Inves
Slide 44: Home loan stress test – Australia
Home loan stress test – Australia Assumptions and Outcomes Summary Assumptions (%) Base Year 1 Year 2 Year 3 Stress Test scenario represents a severe but plausible commodities-led recession. Cash Rate 1.75 1.0 0.5 0.5 Unemployment 5.9 7.5 9.5 11.0 3 year scenario of cumulative 31% house price decl
Slide 45: Commercial property - diversified
Commercial property - diversified Overview Group Exposure Date Legend Exposure of $72.0bn (6.7% of Group TCE) diversified 69.2 72.0 65.9 across sectors and by counterparties. Dec 16 Jun 16 Dec 15 85.3% of Commercial Property exposure to investors and REITS, 14.7% to developments. 32 32 31 Deve
Slide 46: Residential apartments - weighted to Sydney
Residential apartments - weighted to Sydney Overview Profile (Dec 16) Total Residential Apartment Development1 Credit quality sound $13.3bn (18% of CP) $5.2bn (0.5% of TCE) Strong qualifying pre-sales Other (110.1%)1 Perth $0.3bn $0.3bn Portfolio LVR of 59.9%1 Investment 32% Brisbane $0.5bn
Slide 47: Mining, Oil and Gas – lower exposure
Mining, Oil and Gas – lower exposure Overview Group Exposure Date Legend Exposure of $14.9bn (1.4% of Group TCE), $1.1bn 74 70 73 Dec 16 Jun 16 reduction on prior half due to active portfolio Dec 15 management, repayments and selective origination. Portfolio continues to perform acceptably: 18.8
Slide 48: Agriculture – increased NZ dairy provisions
Agriculture – increased NZ dairy provisions Overview Group Exposure Date Legend Exposure of $21.2bn (2.0% of Group TCE) is well 19.7 21.2 Dec 16 diversified by geography, sector and client base. 18.5 Jun 16 Dec 15 Australian agriculture portfolio performing well. NZ dairy portfolio: 11 12 12
Slide 49: Economics
♦ Half year results ♦ Funding & Capital ♦ Strategy ♦ Credit quality ♦ Economics
Slide 50: Key Economic Indicators (June FY)
Key Economic Indicators (June FY) 2012 2013 2014 2015 2016 2017 2018 World GDP 3.4 3.3 3.4 3.2 3.1 3.2 3.5 Australia Credit Growth % – Total 4.4 3.1 5.0 5.9 6.1 4¾-6¾ 4¾-6¾ Credit Growth % – Housing 5.0 4.6 6.4 7.3 6.7 5-7 5-7 Credit Growth % – Business 4.4 1.2 3.4 4.4 6.6 5-7 5-7 Credit Growth % –
Slide 51: Key Economic Indicators (June FY)
Additional information Key Economic Indicators (June FY) GDP % CPI% Unemployment Rate % GDP Nominal GDP 6.2 3.1 5.0 2.7 2.7 5.9 2.6 2.6 4.2 5.8 2.4 2.3 3.5 5.6 1.8 1.8 1.9 1.7 2.4 2.4 1.4 5.4 5.3 1.6 2013 2014 2015 2016 2017 2018 201320142015201620172018 2013 2014 2015 2016 2017 2018 2013 2014 2015
Slide 52: Global economic growth is set to firm a little
Global economic growth is set to firm a little Global Growth1 Advanced & Emerging Economies1 (annual % change) (GDP growth, annual % change) 8 10 Emerging market & 6 developing economies Long-run average 5 4 2 0 Advanced 0 economies -2 -5 1966 1972 1978 1984 1990 1996 2002 2008 2014 1980 1990 2000 2
Slide 53: Australia remains well placed
Australia remains well placed GDP1 Unemployment Rate2 10 Year Bond Yields (annual % change) (%) (%) 12 6 3 "TRUMP" 2 8 2 "BREXIT" -2 1 4 -6 0 -10 0 -1 Mar 05 Mar 08 Mar 11 Mar 14 Jan 05Jan 07Jan 09Jan 11Jan 13Jan 15 Jan 16 Mar 16 Jun 16 Sep 16 Dec 16 Australia is into its 25th year of Unemployment F
Slide 54: Australian growth headwinds easing
Australian growth headwinds easing Commodity prices have bottomed1 Drop in mining capex almost over (CBA commodity price index) (Business investment, % of GDP) 16 400 Non-mining 12 300 8 Mining 200 4 100 0 Sep 04 Sep 07 Sep 10 Sep 13 Sep 16 Sep-00 Sep-04 Sep-08 Sep-12 Sep-16 The drag on incomes from
Slide 55: Growth tail winds blowing
Growth tail winds blowing Resource exports growing strongly Public infrastructure spending lifting (Resource-related exports, monthly sa, $bn) (State public CAPEX, trend Dec-12 = 100) 10 Index Index Metals ores & minerals NSW TAS 8 100 100 WA 6 VIC Coal SA 4 80 80 Oil & gas QLD 2 Refined metals 0 60
Slide 56: Growth tail winds blowing
Growth tail winds blowing The Asian income boost continues Services trade is rising (Short term overseas arrivals, rolling annual total millions) (Services trade, rolling annual contribution to GDP growth %) 1.0 1.5 New Zealand 0.5 China 1.0 Europe ex UK 0.0 UK 0.5 -0.5 Japan India 0.0 -1.0 Jan 02 J
Slide 57: Growth risks
Growth risks Employment Non-mining capex1 (change since Jan 15, ‘000) (% of GDP) 400 16 Total 300 12 Part-time 200 8 100 4 Full-time 0 0 Jan 15 Jul 15 Jan 16 Jul 16 Sep 00 Sep 02 Sep 04 Sep 06 Sep 08 Sep 10 Sep 12 Sep 14 Sep 16 Employment growth slowed in late 2016, Business remains reluctant to inv
Slide 58: Growth risks
Growth risks Savings ratio Wage Price Index1 (%) (annual % change) 20 5 15 4 10 3 5 2 0 -5 1 Sep 72 Dec 80 Mar 89 Jun 97 Sep 05 Dec 13 Sep 01 Sep 04 Sep 07 Sep 10 Sep 13 Sep 16 A falling household saving rate has allowed Wages growth remains subdued but the consumer spending to grow faster than grow
Slide 59: Housing fundamentals suggest slower growth ahead
Housing fundamentals suggest slower growth ahead Demand is slowing Supply is lifting Construction peaking (State population growth, (Dwelling supply, (dwelling construction, annual change ‘000) new construction as a % of population growth) rolling annual total ‘000) 120 120 VIC NSW 200 Dwelling QLD
Slide 60: Dwelling price and credit growth trends are diverging
Dwelling price and credit growth trends are diverging Dwelling prices1 Housing credit growth2 (Index) (Credit growth, annual % change) 1050 12 Sydney Investor housing 850 Melbourne 8 650 Perth Brisbane Owner-occupier 4 housing 450 Adelaide Regional 250 0 Jan 06 Jan 08 Jan 10 Jan 12 Jan 14 Jan 16 Jan
Slide 61: Households have some protective buffers
Households have some protective buffers Household Debt & Deposits1 Household Net Worth2 (% of annual household disposable income) (% of GDP) 200 600 160 Debt Assets 120 400 Net worth 80 Net debt 200 40 Currency & deposits Liabilities 0 0 Sep 88 Sep 92 Sep 96 Sep 00 Sep 04 Sep 08 Sep 12 Sep 16 1988/8
Slide 62: Typical housing bubble factors not evident in Australia
Typical housing bubble factors not evident in Australia Housing “Bubble” – Current position in Australia typical characteristics Unsustainable asset prices Prices were supported by underbuilding in past years but demand and supply are now more in balance. Price growth has slowed in some areas bu
Slide 63: New Zealand
New Zealand Global dairy trade auction results1 NZ short term arrivals2 (USD/tonne) (monthly, seasonally adjusted) 6,000 320 Whole Milk Powder 300 5,000 280 RWC CWC 260 4,000 240 Lions tour 3,000 220 200 2,000 GDT overall price 180 1,000 160 Jul 08 Mar 10 Nov 11 Jul 13 Mar 15 Nov 16 Jan 05 Sep 06 Ma
Slide 64: New Zealand
New Zealand NZ CPI inflation1 OCR forecasts2 % (ASB forecast and implied market pricing, %) 6 4.0 (f) 5 Annual % 3.5 4 3.0 3 OCR implied by current market 2 pricing 2.5 1 2.0 0 ASB Economics Forecast quarterly change (peak of 3.5% in 2020) -1 1.5 Jun 00 Jun 03 Jun 06 Jun 09 Jun 12 Jun 15 Sep 13 Jun
Slide 65: New Zealand
New Zealand NZ household lending growth1 NZ median house price2 (annual % change) (3 month moving average, $’000) 20 900 Mortgage lending 800 15 700 10 Auckland 600 5 NZ 500 0 Wellington 400 -5 Consumer Credit 300 Canterbury/Westland -10 200 Jan 94 Jan 98 Jan 02 Jan 06 Jan 10 Jan 14 Jan 05 Jan 07 Ja
Slide 66: Customer Metrics
Customer Metrics 1 Roy Morgan Research Retail Main Financial Institution (MFI) Customer Satisfaction. Australian population 14+, % “Very Satisfied” or “Fairly Satisfied” with relationship with that MFI. 6 month rolling average to December 2016. Peers includes ANZ, NAB and Westpac. CBA excludes Bankw
Slide 67: Technology Metrics
Technology Metrics Sources for ‘More satisfied customers – internet’ (slide 30) 1 Free financial app: CommBank app on iOS and Android in Australia. Sources are the Apple App Store and the Google Play Store. 2 Online banking: CBA won Canstar's Bank of the Year – Online Banking award for 2016 (for the
Slide 68: Glossary
Glossary Capital & Other Funding & Risk Risk Weighted The value of the Group’s On and Off Balance Sheet Liquidity coverage The LCR is the first quantitative liquidity measure that is part of the Assets or RWA assets are adjusted by risk weights calculated according ratio (LCR) Basel III reforms. It
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Commonwealth Bank of Australia — Debt Investor Presentation (February 2017) on 6ix