Commonwealth Bank Of Australia · ASX:CBA
Commonwealth Bank Of Australia — 1H24 Earnings Presentation
149 slides from Commonwealth Bank Of Australia's earnings presentation, Feb 14, 2024
Slide 1: Results Presentation and Investor Discussion Pack
Results Presentation and Investor Discussion Pack For the half year ended 31 December 2023 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 the presentation, 14 February 2024. It is information given in summary form and does not purport to be complete. Information in this presentation is
Slide 3: Contents
Contents CEO & CFO presentations 4 Overview & strategy 41 Financial overview 62 Home & consumer lending 85 Business & corporate lending 103 Funding, liquidity & capital 111 Economic overview 131 Sources, glossary & notes 142
Slide 4: Results presentation
Results presentation Matt Comyn, Chief Executive Officer
Slide 5: Building a brighter future for all
Building a brighter future for all Supporting our customers and communities • Focused on proactively supporting customers with higher cost of living Helping • Engaged 3 million1 customers each month with money management tools customers today • Prevented and recovered over $100 million in scams2 in
Slide 6: Higher rates unevenly felt
Higher rates unevenly felt Many households cutting back to adjust to higher cost of living Salary and wages1,2 Spending1,3,4 Savings1,5 Year on year change, per customer Year on year change, per customer Year on year change trimmed, per customer Dec quarter, 2023 13 weeks to 7 Jan 2024 31 Dec 2023 E
Slide 7: Supporting our customers
Supporting our customers Customers are feeling the impact of the economic environment Annual change in real household disposable income1 Supporting our customers • Contacted customers rolling off fixed rates; arrears below portfolio 8 (6) • Engaging ~3m4 customers monthly via money management tools
Slide 8: Impact of higher rates
Impact of higher rates Higher rates flowing through the economy Change 1H24 vs 1H23 Change 1H24 vs 1H23 1.4x 1.5x 2.6x 1.9x Flat +4% +14% (19%) (3%) Change in average customer rates 1.76% 1.55% 4.8 4.1 Home loans Deposits 3 0.4 $bn $bn 0.0 0.2 3.0 (0.1) (0.2) 6.9 Mortgage Other Depositors Wholesale
Slide 9: Sustainable returns
Sustainable returns Balance sheet strength, supporting customers Deposits Home loans Capital International banks pass-through1 International banks pass-through2 International CET1 ratio4 Banks in: Banks in: Banks in: Australia Canada Europe UK US Australia Canada Europe UK US3 Australia Canada Europ
Slide 10: CBA profitability
CBA profitability Larger, safer, lower profitability Size Change over time Comparables Dec 231 Dec 23 vs Dec 13 Return on equity4 Assets Banks in: Australia Canada Europe UK US Capital (CET1) +101% Loans to 17% 13% customers 14% 11% 11% 11% 11% Customer +93% 8% deposits 3% Government bonds and other
Slide 11: This result
This result1 Helping customers today, investing for tomorrow, supporting Australia 8% Statutory NPAT NPS2,3 MFI Share3 Reputation Score4 #1 65.6 #1 Consumer #1 Business 3% Cash NPAT #1 Institutional Consumer & business +12.6 vs Jun 18 #1 Digital 6c Cash EPS CET1 Level 2 Dividend per share Shareholde
Slide 12: Financials
Financials1 Revenue flat, higher expenses, lower loan impairment expense Operating income Operating expenses Pre-provision profit Cash NPAT Disciplined approach to Inflation and Flat revenue and higher Lower loan volume/margin higher amortisation operating expenses impairment expense Flat +4% (3%) (
Slide 13: Strength – balance sheet
Strength – balance sheet Long-term conservative balance sheet settings Deposit funding Long-term funding Liquid assets1 Capital % of total funding Weighted average maturity, yrs Average, $bn CET1 ratio, Level 2 75% 5.3yrs $187bn 12.3% 4 (ex. TFF) 5.4 71% 11.7%3 55% 140 3.5 5.0%2 50 Pre- Pre- Pre- Pr
Slide 14: Strength – credit quality
Strength – credit quality Sound portfolio quality – lower TIAs, modest increase in arrears – well provisioned TIA Home loan arrears1 Provisioning2 Troublesome & 90+ days, % Total provisions vs Central ECL3 Impaired Assets (TIA) Dec 23 $6.06bn $7.8bn $6.9bn 0.52% 0.61% $7.1bn $2.2bn 0.47% $3.85bn Dec
Slide 15: Strength – core franchise
Strength – core franchise Extending leadership through strong customer relationships Stronger customer relationships Better understanding of 1 and frequency of engagement 2 customer needs and risk • Strongest financial services brand1 • Technology leader, history of innovation • Leading MFI share2 •
Slide 16: Customer engagement
Customer engagement Leading Net Promotor Score1 in all key segments Retail Business Institutional NPS NPS NPS2 14 consecutive months 23 consecutive months 13 consecutive months #1 #1 #1 CBA CBA CBA Peers Peers Peers Dec 22 Dec 23 Dec 22 Dec 23 Dec 22 Dec 23 1. Refer to sources, glossary and notes at
Slide 17: Key highlights
Key highlights By division RBS BB IB&M ASB Retail MFI Share1 Business MFI Share1 Funding contribution5 Net Promoter Score6 Gap to nearest peer Gap to nearest peer Cumulative, +18.5pp 35.0% +7.4pp 26.3% Jun 18 to Dec 23 +$8bn #1 #3 34.7% 23.2% 24.7% $72bn $64bn 34.2% Dec 17 Dec 22 Dec 23 Dec 17 Dec 2
Slide 18: Australian retail banking
Australian retail banking Disciplined execution RBS Cash NPAT1 Leading deposit franchise CBA share of Retail NII3 Household deposits to home loans2 Four largest Australian banks Dec 23 (8%) +4% +1% 71% 2.9 38% 2.7 2.7 65% 63% 59% 34% $bn 1H23 2H23 1H24 CBA Peer 3 Peer 2 Peer 1 Sep 21 Sep 23 1. Compa
Slide 19: Home loans – fixed rate maturities
Home loans – fixed rate maturities Ongoing resilience across the portfolio Fixed rate expiry schedule1 Arrears Savings2,3 Spending2,4 90+ day arrears Year on year change, Year on year change, Dec 2023 per customer per customer 31 Dec 2023 13 weeks to 7 Jan 2024 Expired 41 34 29 0.52% 1.5% 16.2% 14 2
Slide 20: Business Banking
Business Banking Australia’s leading business banking franchise Business MFI Share1 Business deposits2 Business loans2 Change in share since Mar 20 Change in share since Mar 20 Change in share since Mar 20 282 272 172 165 bpts 13 bpts bpts 42 (22) (85) (73) (108) (115) (199) CBA Peer 2 Peer 1 Peer 3
Slide 21: Deposits
Deposits Core franchise strength – strong customer engagement driving deeper relationships Transaction accounts1 Stable deposits Retail (#) Retail & SME deposits in NSFR2 ($bn) +6% 10.9 10.3 9.6 CBA 300 m Dec 21 Dec 22 Dec 23 250 200 Peer 3 Business (#) 150 Peer 1 Peer 2 +10% 100 1.2 50 1.1 Peer 4 1
Slide 22: Global best digital experiences
Global best digital experiences Extending our market leading digital offering with CommBank app 5.0 and CommBank Yello Australia’s Net Promoter Score6 Digital transactions Digitally active customers8 most popular Consumer mobile app via app7 Dec 23 banking app1 #1 82.7 9.0 68.1 8.3 Active app users2
Slide 23: Supporting our customers
Supporting our customers Keeping our customers safe Identity Verification Scam Indicator NameCheck CustomerCheck CallerCheck Ongoing awareness Identity verification using Real-time phone scam Notification of account Fast and secure Verification of calls and education facial recognition detection and
Slide 24: Results presentation
Results presentation Alan Docherty, Chief Financial Officer
Slide 25: Results overview
Results overview Responsive to changes in our operating context, strengthening franchise Operating context Management response Long-term franchise implications • Lower per capita disposable incomes • Supporting our customers, new offerings • Leading customer NPS1 • Resilient economy, strong fundamen
Slide 26: Statutory vs Cash NPAT
Statutory vs Cash NPAT1 Statutory NPAT of $4.8 billion, includes loss on PTBC Indonesian divestment $m 1H23 2H23 1H24 Statutory NPAT – continuing operations 5,243 4,853 4,837 Non-cash items: Includes PT Bank Commonwealth, CommInsure General Insurance, Count - Transaction costs and gains and (losses)
Slide 27: 1H24 result
1H24 result1 Cash NPAT 3% higher vs 2H23 1H24 vs 1H24 vs $m 1H24 1H23 2H23 Operating income 13,649 0.2% 1.0% Operating expenses 6,011 4.1% (1.2%) Operating performance 7,638 (2.7%) 2.8% Loan impairment expense 415 (18.8%) (30.5%) Cash NPAT 5,019 (3.1%) 2.6% 1. Presented on a continuing operations ba
Slide 28: Operating income
Operating income1 Volume growth and higher other operating income offset by margin compression • Volume driven growth in retail, business and institutional fee income 2H23: +1.0% • Volume growth2 +4.2% • Higher Markets trading and sales income • Margin compression (11bpts) +0.2% (233) 259 13,623 13,
Slide 29: Group margin
Group margin Increased deposit price competition Deposit price competition (3) Deposit switching (3) Replicating portfolio 2 Wholesale funding costs (1) Lower consumer finance Capital hedge 2 and home lending margins New Zealand (1) (7) (6bpts) (2) 3 205 199 bpts 2H23 Funding costs Asset pricing Oth
Slide 30: Disciplined approach to volume and rate trade off
Disciplined approach to volume and rate trade off CBA gaining share of NII, generating long-term sustainable returns Change in share of NII Share of NII Share of home loan NII Four largest banks1,2 Four largest banks1,2 Four largest banks2,3 FY Sep 23 vs PCP Sep 23 FY Sep 23 +$390m +$70m ($160m) ($3
Slide 31: Operating expenses
Operating expenses1 Inflation driving cost growth – technology and other costs more than offset by productivity Cost to Income 42.4% 44.0% Contribution to mvt: +4.8% +1.4% +0.7% (2.8%) 80 43 (164) +4.1% 279 6,011 5,773 Cumulative cost savings realised (last 5 yrs): • Insourcing of engineering and te
Slide 32: Credit risk
Credit risk Sound credit quality – modest uptick in arrears – TIA stable Loan impairment expense Arrears2 Troublesome and impaired assets Loan loss rate, bpts1 90+ days $bn 1H23 2H23 1H24 TIA % of TCE (bpts) Personal loans Credit cards Home loans Consumer 11 12 7 Historic avg3: 0.91% Corporate 13 17
Slide 33: Provisioning
Provisioning1 Strong provision coverage maintained at 1.64% of Credit RWA Total credit provisions Provisions and scenarios $bn Dec 23 TP/CRWA: 1.29% 1.64%2 1.64%2 8.0 $6.06bn $6.1bn 5.95 4.80 2.92 2.94 Corporate 3.8 Pre- 3.03 3.12 Consumer $bn COVID $bn Jun 19 Jun 23 Dec 23 Central Recognised Downsi
Slide 34: Provisioning through the cycle
Provisioning through the cycle Forward-looking approach – customer, macroeconomic and sectoral considerations • AASB 9 requires a forward-looking approach to loan loss provisioning to dampen pro-cyclical provisioning behaviour through forward-looking adjustments (FLAs) and Economic cycle multiple ec
Slide 35: Funding
Funding Conservative settings providing flexibility – repaid $19 billion of Term Funding Facility1 Deposit funding Long-term funding2 Short-term funding4 LCR & NSFR % of total funding % of total funding % of total funding Liquid assets NSFR 55% 75% 75% 19% 18% 18% 26% 7% 7% HQLA5 $180bn 121% Non-HQL
Slide 36: Capital
Capital1 Strong capital position maintained Movements in bpts Level 1 Level 1 12.5% ~12.3% 12.3% ~12.2% 32 (3) (11) 12.2% ~$10bn ~$9bn 107 surplus surplus Cash NPAT 10.25% RWA 11 APRA minimum3 2H23 dividend (DRP neutralised) (86) Jun 23 Organic capital On-market Other Dec 23 Dec 23 Level 2 generatio
Slide 37: Dividends
Dividends Long-term sustainable returns Sustainable returns Dividend per share (cents) • Interim dividend of $2.15, 2% increase on 1H23 dividend 210 215 • DRP with no discount and expected to be fully 175 neutralised 68%1 72% 62% • Half year payout ratio of 72% • The Bank will continue to target a f
Slide 38: Strong settings – supporting sustainable returns
Strong settings – supporting sustainable returns Resilient under a broad range of scenarios Strong settings Supporting sustainable returns Net interest earnings Strong organic Loan loss Strong ROE supports Healthy franking supported by capital generation provisions well above central + Conservative
Slide 39: Economic outlook
Economic outlook Downside risks remain, Australian economy resilient • Solid fundamentals for the Australian economy – Low unemployment, low underemployment, high participation rates – Strong non-mining investment – Immigration providing a structural tailwind • Inflation and economy moderating due t
Slide 40: Summary
Summary Customer focus, consistent execution, strength and stability Customers • Supporting our customers and communities Net Promoter Score1 Rank Market share Rank Consumer #1 Household deposits #1 Business #1 Home lending #1 • Capital and balance sheet strength, critical to support Australia Consu
Slide 41: Overview & strategy
Overview & strategy
Slide 42: Why CBA?
Why CBA? Leading franchise – strong balance sheet settings – supporting sustainable returns Consumer MFI share1 (%) Home lending share2 (%) Household deposits share3 (%) Business MFI share1 (%) Deposit funding Business deposits Peers as at September 20234 market share 75% 71% 68% 66% 23% 21% 18% 16%
Slide 43: Delivering
Delivering Balanced outcomes – delivering for all stakeholders Customer People Community Shareholders Net Promoter Score1 People engagement2 Reputation score3 Total Shareholder Return4 Rank Period % Rank Consumer #1 76% 10yr 134% #1 65.6 67% Consumer digital #1 53.0 5yr 91% #1 Business #1 3yr 54% #2
Slide 44: How we contribute to Australia
How we contribute to Australia1 Supporting our customers, the community and the economy Customers & domestic debt investors2 Our people • Leading retail bank with >25% share of market3 • Over 53,000 people employed, predominantly in • Includes ~$9bn interest paid to Australian savers Australia and N
Slide 45: Our strategy
Our strategy Building tomorrow’s bank today for our customers Our purpose Building a brighter future for all Our priorities Leadership in Australia’s Reimagined products Global best digital Simpler, recovery and transition and services experiences and technology better foundations Extend retail and
Slide 46: Reimagining banking
Reimagining banking Franchise strength supporting our customers across the lifecycle CBA Retail MFI share1 New transaction accounts – migrants2 44.9% 45.9% 42.3% 1H20 1H24 Dec 19 Aug 20 Dec 20 Dec 21 Dec 22 Dec 23 Apr 20 Apr 21 Aug 21 Apr 22 Aug 22 Apr 23 Aug 23 CBA 33.6% 34.2% 34.6% 35.0% Peers 29.
Slide 47: Engaged customers
Engaged customers Strong customer engagement creates deeper relationships – key driver of growth Dec 23 MFI share1 Retail transaction accounts2 Home loan balances3 Home loans linked 16.5% 12.0% 11.9% 35.0% vs Dec 22 +6% to a transaction account >97% Peer 3 Peer 2 Peer 1 Retail 34.4% 34.7% 10,288 10,
Slide 48: Reimagining banking
Reimagining banking Reinforcing our core proposition – example initiatives1 CommSec CommSec Pocket Invest CommBank AdvancePay StepPay and CommBank Neo Home Everyday Benefits finder Bill Sense Green loans CommBank app CommBank Yello Carbon Connecting business & Business retail customers Smart Termina
Slide 49: Reimagining banking
Reimagining banking Extending our market leading digital assets CommBank app CommBank Yello Australia’s most popular banking app1 Rewards & recognition for customers Kids pocket money app & prepaid card Simpler, better, easier to use Tailored benefits and offers Accelerate financial capability of yo
Slide 50: Reimagining banking
Reimagining banking Making home buying faster and easier Simple, fast, digital home loans Property settlement leader 10% of pre-approved customers3 Apply in as little as 10 minutes Digital settlements platform 98% take up a CBA home loan4 > $5 billion 95% > $5 billion in lending balances1 of CBA set
Slide 51: Reimagining banking
Reimagining banking Payments PowerBoard Smart Terminals Smart Smart Integrated Smart Mini Single platform eCommerce solution Hospitality POS integration technology POS integration via Smart Sync Payment choice, efficiency and security Covers 84% of serviceable market Customer insights and reporting
Slide 52: Reimagining banking
Reimagining banking Business Banking – differentiating through industry verticals Smart Real Estate Smart Health Payments Private health & Medicare claiming Streamlined agri data aggregation tool Making rental payments easy & safe Payments partner for NDIS1 Reporting & insights to agribusinesses Col
Slide 53: Supporting our customers
Supporting our customers 3 million customers engaging monthly with our money management tools1 Money Plan Bill Sense Benefits finder Spend Tracker Cash Flow View Goal Tracker Money management Predict and prepare Easier access to a Easily view and Track income, spending, Set and track a tools in one
Slide 54: Global best digital experiences
Global best digital experiences Building on a history of innovation Strong foundations Establishing leadership Reimagining banking 24/7 NetBank CommSee Core banking CommBank app Customer CommSec CommBank Launch of Market first Partnering with CommBank CommBank Full functionality Proprietary Real-tim
Slide 55: Global best digital experiences
Global best digital experiences CommBank app 5.0 – a simpler, more personalised experience with seamless business integration Business profile switching Enhanced search Separate business and personal accounts and toggle seamlessly App-wide search for features, products, transactions and more, betwee
Slide 56: Global best digital experiences
Global best digital experiences Focus on security and innovation Build world-class Deliver the best integrated Modernise systems and Simpler, better Group priority engineering capability digital experiences digitise end-to-end foundations Tech focus Deliver faster World-class Modern Operational for
Slide 57: Global best digital experiences
Global best digital experiences Reimagining data and analytics Fairness & transparency World class partnerships • Responsible AI toolkit providing comprehensive coverage across • Access to world-leading talent through strategic AI development lifecycle partnership with H2O.ai • Appointed to National
Slide 58: Global best digital experiences
Global best digital experiences Faster digital processing Property transactions New credit card Digital documents Proprietary applications settled digitally1 accounts via digital2 and signing3 auto-decisioned4 Consumer ~95% 91% ~90% ~70% Loan documents Small business Digital sales7 Straight through
Slide 59: Home loans − experience
Home loans − experience1 Enhancing customer experience through simple, scalable and digitised processes • Application experience – simple online applications with fast initial approval • Pre-populated inputs – to make it easy for customers and lenders to progress at first attempt Simple and seamless
Slide 60: Cost of providing cash services
Cost of providing cash services Challenging commercial model ATM withdrawals1 Digital payments2 Revenue and costs from cash services Monthly average Monthly average Annual $m • Free ATM withdrawals at major banks since 2017 Consumer ~20 Business ~50 • Monthly cash withdrawal volumes halved3 (51%) +8
Slide 61: Our commitment to sustainability
Our commitment to sustainability Building a brighter future for all Climate Engaging Supporting Strengthening Conducting strategy our people our customers our communities business responsibly • Set financed emissions targets • New Enterprise Agreement with • Over $750m7 spent to prevent • Over $2m i
Slide 62: Financial overview
Financial overview
Slide 63: Overview – 1H24 result
Overview – 1H24 result1 Key outcomes summary Financial Balance sheet, capital & funding Statutory NPAT ($m) 4,837 (7.7%) Capital – CET12,5 (Int’l) 19.0% +50bpts Cash NPAT ($m) 5,019 (3.1%) Capital – CET12,6 (APRA) 12.3% +20bpts ROE % (cash) 13.8% (40bpts) Total assets ($bn) +3.6% 1,276 EPS cents (ca
Slide 64: Overview – 1H24 result
Overview – 1H24 result Key financial outcomes Cash NPAT1,2 ($m) NIM1 (%) Cost-to-income1,2,3 Cash ROE1,2 (3%) (11bpts) 160bpts (40bpts) 3% (6bpts) 50bpts 10bpts 5,180 4,892 5,019 2.10 2.05 42.4% 43.5% 44.0% 14.2% 13.8% 1.99 13.7% 1H23 2H23 1H24 1H23 2H23 1H24 1H23 2H23 1H24 1H23 2H23 1H24 Cash EPS1
Slide 65: Cash NPAT by division
Cash NPAT By division1 RBS2 BB IB&M NZ (NZD)3 vs PCP vs PCP vs PCP vs PCP • Income (4%) • Income +4% • Income +14% • Income (8%) • Costs +3% • Costs +3% • Costs +2% • Costs +6% • Impairment expense -$24m • Impairment expense -$53m • Impairment benefit -$2m • Impairment expense -$39m (8%) +6% +28% (1
Slide 66: Balance sheet
Balance sheet1 Lending flat vs 2H23, growth in higher yielding deposits Dec 23 vs Dec 23 vs $bn Dec 22 Jun 23 Dec 23 Jun 23 Dec 22 Group lending Home loans 639.3 652.2 650.5 (0.3%) 1.7% +1.8% (0.5%) Consumer finance 17.0 17.0 17.5 2.6% 3.0% Business loans2 156.1 164.7 169.2 2.7% 8.4% 910.5 930.8 926
Slide 67: Volume growth
Volume growth Disciplined approach, targeted growth – focus on sustainable returns Home lending1,2 Business lending1,2,3 Household deposits1,4 Business deposits1,5 CBA CBA (excl. IB&M) CBA CBA System CBA (incl. IB&M) System System System (incl. Institutional lending) 7.4% 9.6% 5.5% 6.1% 4.2% 6.7% 6.
Slide 68: Market share
Market share1 Disciplined approach to growth % Dec 22 Jun 23 Dec 23 Home lending2,9 Household deposits3,9 CBA Peers CBA Peers Home loans – RBA2 25.1 25.1 24.5 40% Break in series 40% Break in series Break in series from Jun 21 3 Home loans – APRA 25.8 25.8 25.3 30% Break in series from Jun 21 from M
Slide 69: Group margin – 12 months
Group margin – 12 months Continued competitive pressures and higher funding costs, partly offset by hedging returns Benefit of rising rates more than offset by: Continued competitive • Increased deposit price competition Higher earnings on pressures • Deposit switching replicating portfolio • Increa
Slide 70: Deposit switching
Deposit switching Rate of switching has slowed Domestic retail deposits1,2 Domestic business deposits1,2,3 $bn $bn Non-interest bearing mvt %4 Non-interest bearing mvt %4 3Q23 4Q23 1Q24 2Q24 3Q23 4Q23 1Q24 2Q24 (7.5%) (4.1%) (4.3%) (3.3%) (8.5%) 1.0% (8.5%) 2.1% 196 188 193 181 185 172 177 177 177 1
Slide 71: Deposit composition
Deposit composition Increasing term deposit mix Domestic retail deposits1,2 Domestic business deposits1,2,3 $bn $bn $430bn $409bn $384bn 12% $315bn $316bn $351bn 15% $330bn 16% $280bn 13% 17% 18% 15% 10% 17% $252bn 17% 21% 15% 16% 14% $197bn 46% 11% 53% 45% 56% 39% 44% 45% 68% 62% 62% 36% 27% 23% 25
Slide 72: Group margin
Group margin Increased hedge earnings from higher rates Replicated portfolio (RP) & equity hedge Liquidity & basis risk • In 1H24, RP and equity hedge earnings benefitted from higher rates Liquidity • Earnings outlook continues to improve with higher exit tractor rates • Every additional $10bn of li
Slide 73: Margins by division
Margins by division1 Ongoing competitive pressures and deposit mix RBS2 BB IB&M (ex Markets)3 NZ (ASB)4 Lower margins due to increased Lower lending margins reflecting Increase on prior half reflecting Lower lending margins reflecting competition and unfavourable deposit mix increased competition an
Slide 74: Other operating income
Other operating income1 Higher trading income and fees Other operating income Trading income 1H24 vs 1H23 • Non-recurrence of losses on assets held at fair 2,245 value in 1H23 2,093 185 • Non-recurrence of weather event related 1,986 insurance losses in 1H23 148 • Higher Structured Asset Finance ren
Slide 75: Sequential half operating income
Sequential half operating income1 Volume growth, higher other operating income and 3 more days, partly offset by margin compression • Margin compression (6bpts) • 3 more days +$189m • Higher Retail FX, cards, deposit and lending fee income • Volume growth2 +1.9% • Higher Markets trading and sales in
Slide 76: Sequential half operating expenses
Sequential half operating expenses1 Inflation driving cost growth Cost to Income1 43.5% 44.0% Contribution to mvt: +4.7% (0.9%) (1.5%) 282 (56) (88) +2.3% 6,011 5,873 Cumulative cost savings realised (last 5 years): • Wage inflation including higher Super guarantee • 1H24: $761m • Inflation related
Slide 77: Customer remediation
Customer remediation Committed to making things right for customers Remediation & program costs Customer refunds Cumulative spend and provisions ($m)1 Cumulative customer refunds ($m)1 3,974 4,055 3,535 • $2,503m returned to customers 2,601 • $98m remaining 3,210 2,653 Refunds made Salaried Aligned
Slide 78: Cost approach
Cost approach Ongoing productivity savings creating capacity for long-term investment Cost reduction Investment spend Cumulative savings Cost approach Continued focus on productivity & growth (last 5 years) Capitalised software ($bn) 1.9 1.8 1.7 1.9 2.0 1.3 1.4 1.4 • Simpler, more efficient 761 busi
Slide 79: Loan losses
Loan losses Loan impairment expense remains low Loan loss rate1 Loan loss rate by business unit1,2 bpts bpts 11 13 13 17 Consumer Corporate 11 12 1H23 1H24 1H23 2H23 41 33 25 24 76 18 21 20 19 50 16 16 15 15 16 12 10 9 11 43 24 7 9 9 9 23 13 11 20 10 14 8 15 2 26 17 19 17 18 18 18 18 18 17 26 16 4 1
Slide 80: Provisions
Provisions1 Peer leading provision coverage of 1.64% Provision coverage2/CRWA Provisions by stage % Credit Credit Stage 2 exposures exposures provisions by credit grade3 1.64 Total 1.58 $m Jun 23 Dec 23 Jun 23 Dec 23 provision 1.45 coverage 1.26 Stage 1 921,565 913,693 1,709 1,752 $198bn $188bn 7 We
Slide 81: Retail Banking Services (RBS)
Retail Banking Services (RBS)1 Consistent and disciplined execution Net Promoter Score2 MFI share2 Volume growth3 Dec 23 12 months to Dec 23 34.7% 35.0% System CBA #1 Dec 22 Dec 23 7.4% 35.0% 6.1% 4.4 4.2% 16.5% 12.0% 11.9% 1.7 2.0% 0.2 Home loans4 Household deposits5 CBA Peer 3 Peer 2 Peer 1 (1.5)
Slide 82: Business Banking (BB)
Business Banking (BB)1 Continued investment in franchise build, leveraging digital assets for strong volume growth Performance Business lending Transaction account growth Gap to Dec 23 Rank Actual nearest peer Spot balances ($bn) ~59k increase in total accounts in 1H24, 38% via digital7 Business NPS
Slide 83: Institutional Banking and Markets (IB&M)
Institutional Banking and Markets (IB&M)1 Strong performance, supporting clients in a challenging macro environment Net Promoter Score2 IB&M lending Credit RWAs (Turnover $300M+ p.a.) Lower balances in pooled facilities and Increase in Dec 23 over the prior half primarily driven by the funds finance
Slide 84: ASB
ASB1 Balancing sustainable margins and growth in a competitive environment Consumer Net Promoter Score2 Business Net Promoter Score3 Volume growth4 12 months to Dec 23 Peers ASB Peers ASB 10 35 System ASB 0 #1 25 6.6% #3 -10 2.6% 3.0% 2.8% 15 -20 0.2% 0.2% 5 -30 Dec 22 Dec 23 Dec 22 Dec 23 Business
Slide 85: Home & consumer lending
Home & consumer lending
Slide 86: Home loans – CBA
Home loans – CBA1 A disciplined approach to portfolio quality, growth and sustainable returns Portfolio1 Dec 22 Jun 23 Dec 23 New business1 Dec 22 Jun 23 Dec 23 8 Total balances – spot ($bn) 570 584 582 Total funding ($bn) 77 72 67 Total balances – average ($bn) 562 577 580 Average funding size ($’0
Slide 87: Home loans – CBA ex BWA
Home loans – CBA ex BWA1 A disciplined approach to portfolio quality, growth and sustainable returns Portfolio1 Dec 22 Jun 23 Dec 23 New business1 Dec 22 Jun 23 Dec 23 7 Total balances – spot ($bn) 483 494 491 Total funding ($bn) 65 60 55 Total balances – average ($bn) Average funding size ($’000)8
Slide 88: Home loans – growth
Home loans – growth Consistent and disciplined execution in a highly competitive market Consistent market share performance1 Disciplined approach to balance growth2 New fundings 3 94 76 76 77 72 67 $bn 65 CBA Group CBA (ex Bankwest) Peer 1 Peer 2 Peer 3 1H21 2H21 1H22 2H22 1H23 2H23 1H24 67 (7) (16)
Slide 89: Home loans – mix
Home loans – mix1 Peak of fixed rate expiries in 1H24 Fixed vs variable rate stock and flow2 Fixed rate expiry schedule3 Variable Previously expired • 30+ arrears: segment 1.11% vs portfolio 1.06% Fixed • 90+ arrears: segment 0.50% vs portfolio 0.52% Future expiries 62% 62% 66% 72% 81% 95% 97% 41 34
Slide 90: Home loans – credit quality
Home loans – credit quality Credit quality remains sound – majority of interest rate rises passed through Buffers1, $bn Home loan arrears3 % Hardship6 Offset and redraw balances, spot Number of cases Impact of cash rate changes on mortgage repayments4 ~20% Not yet felt by customers +9% $127bn $133bn
Slide 91: Home loans – resilience
Home loans – resilience Strong repayment and savings buffers Repayment buffers Repayment buffers (Payments in advance 1, % of accounts) Payments on time 1, % of accounts) 34%33%34% Dec 22 Jun 23 Dec 23 22% 22% 20% Residual 4% 5% 22%22% 20% 4% 6% Structural: e.g. fixed rate loans 15%16%16% 5% 12% 5%
Slide 92: Home loans – resilience
Home loans – resilience1 88% 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 verified • Remove
Slide 93: Home loans – resilience
Home loans – resilience1,2 Median minimum repayments represent 22% of pre-tax income Average minimum monthly repayment3 $491bn $1,950 $1,850 $1,900 $1,250 Current cash rate 76% 0.10% 4.35% 4.60% 4.85% Variable rate loans Cash rate Median monthly repayment as % of pre-tax income3 23% 23% 22% 15% Curr
Slide 94: Home loans – resilience
Home loans – resilience1 Savings and repayment buffers lessen potential negative cash flow outcomes Proportion of variable rate owner occupier loans originated in the Negative cash flow profile at 4.35% cash rate past 5 years estimated with negative cash flow at different cash rates 3.7% 1.1% 5.2% 4
Slide 95: Home loans – resilience
Home loans – resilience1,2 Targeted support for customers in the highest risk segment (~0.4% of book) Portfolio Risk profile $491bn $26.5bn4 5% $1.9bn (0.4%)5 DLVR > 90%, no LMI Exposures with the capacity to deleverage or 8% Higher $3.2bn (0.7%)5 DLVR 80-90%, no LMI reduce expenditure3 risk $2.5bn
Slide 96: Home loans – resilience
Home loans – resilience1 Portfolio DLVR strong and stable at 45% Negative equity2 Dynamic LVR bands3 Proportion of balances in negative equity % of total portfolio balances Average dynamic LVR4 • 59% of customers ahead of repayments Dec 22 44% Dec 22 • 20% of home loans in negative equity have Lende
Slide 97: Home loans – resilience
Home loans – resilience1 Portfolio remains resilient – modest uptick in arrears, remain low Customers in advance2 Average payments in advance2,3 Dynamic LVR4 % of customers # of payments Portfolio averages 78% 78% 78% 79% 38 32 30 46% 45% 45% 29 44% Dec 21 Dec 22 Jun 23 Dec 23 Dec 21 Dec 22 Jun 23 D
Slide 98: Home loans – capacity
Home loans – capacity1 Higher interest rates continue to impact borrowing capacity Borrowing capacity reducing2 Driven by increase in serviceability buffer and interest rates Change in maximum borrowing capacity2 – Indexed Dec 16 (Loans assessed based on the higher of the customer rate3 + buffer, or
Slide 99: Home loans – resilience
Home loans – resilience1 Impaired loans and portfolio losses remain low Impaired home loans2 Impaired home loans – by State3 Modest increase in Australian home loan impairments as higher interest rates continue to provide upward pressure on households Other 8% NSW 26% 22% WA 1.2 1.1 1.2 14% QLD $bn
Slide 100: Home loans – resilience
Home loans – resilience Modest uptick in arrears, however remain low Arrears by portfolio Bankwest Arrears by product Owner Occupied Arrears by repayment and interest type Group 90+ days CBA 90+ days1 Investment Loans 90+ days1 Group Principal & Interest ASB 1.0% Interest Only 1.0% Fixed 0.8% 0.8% V
Slide 101: Consumer arrears
Consumer arrears1 Increase in arrears influenced by borrowers susceptible to higher cost of living – young, low income Credit cards Personal loans Group 90+ days Group 90+ days 0.46% 0.55% 0.60% 0.95% 1.19% 1.14% 9,648 9,560 9,915 5,279 5,531 4,987 44 52 59 48 63 63 $m $m Arrears Portfolio Arrears P
Slide 102: Consumer arrears
Consumer arrears1 Arrears increasing modestly from historic lows Credit cards Personal loans ASB CBA Group 30+ days Group 30+ days Group 6.0% Bankwest 6.0% 4.0% 4.0% 2.0% 2.0% 0.0% 0.0% Dec 19 Dec 20 Dec 21 Dec 22 Dec 23 Dec 19 Dec 20 Dec 21 Dec 22 Dec 23 Credit cards Personal loans 1.5% Group 90+ d
Slide 103: Business & corporate lending
Business & corporate lending
Slide 104: Portfolio quality
Portfolio quality1 Portfolio quality metrics sound Exposures by industry1 Corporate portfolio quality Group TCE by geography Investment grade AAA A+ BBB+ to to to Dec 22 Jun 23 Dec 23 TCE $bn AA- A- BBB- Other Dec 23 Australia 81.9% 82.2% 80.6% Gov. admin & defence 187.2 18.6 0.6 0.5 206.9 New Zeala
Slide 105: Total committed exposure
Total committed exposure1 Close monitoring of key sectors Provisions to total Group TCE ($bn) TIA ($bn) TIA % of TCE committed exposure % Jun 23 Dec 23 Jun 23 Dec 23 Jun 23 Dec 23 Jun 23 Dec 23 Consumer 776.8 776.2 2.0 2.0 0.3% 0.3% 0.4% 0.4% Government administration & defence 231.3 206.9 0.0 0.0 0
Slide 106: Commercial property
Commercial property Well diversified, moderately leveraged portfolio • There have been moderate declines in property values, although some assets with more challenging tenancy profiles, higher vacancies, location or significant capex for refurbishing are experiencing larger declines in Group exposur
Slide 107: Entertainment, leisure & tourism
Entertainment, leisure & tourism Performance steady despite cost of living challenges Group exposure 16.1 16.6 Dec 22 14.8 • Recent portfolio growth has focused on higher quality and diversified Jun 23 operators with strong LVRs. Dec 23 • Pubs and clubs have traded well, though operators are cautiou
Slide 108: Retail trade
Retail trade Household spending moderating Group exposure 15.4 16.1 Dec 22 14.7 32.0 29.6 • Growth in Retail Trade was predominantly within non-discretionary Jun 23 23.7 sectors with caution exercised due to emerging cost of living challenges. Dec 23 • The CommBank Household Spending Insights (HSI)
Slide 109: Construction
Construction Sector remains challenged, growth directed to well-performing counterparties and sub-sectors Group exposure Dec 22 12.5 11.8 11.8 Jun 23 • Growth directed to sub-sectors less exposed to high risk, fixed price contracts. Dec 23 5.9 6.4 6.3 • For the half year to December 2023, Non-Buildi
Slide 110: Mining, oil & gas
Mining, oil & gas Managing sub-sector exposures in line with strategy, stable portfolio performance Group exposure Dec 22 • Overall decrease in Oil and Gas extraction sub-sector. Jun 23 68.0 66.3 64.1 Dec 23 • Stable performance over the past 6 months: 7.5 7.4 6.8 – Investment grade largely stable a
Slide 111: Funding, liquidity & capital
Funding, liquidity & capital
Slide 112: Funding overview
Funding overview Conservative funding settings maintained, flexibility through tighter financial conditions Funding composition Wholesale funding Funding profile Deposit growth supporting 75% of funding Weighted to long-term TFF refinance to be managed across FY24 – FY25 period % of total funding Ma
Slide 113: Deposit funding
Deposit funding Highest share of stable customer deposits in Australia Customer deposits vs peers1 Customer deposits by segment4 ($bn) ($bn) % of total funding 68% 75% 68% 71% 66% 800 819 825 825 ASB & Other 76 77 80 10% CAGR 182 659 641 IB&M 155 164 153 19% 570 2% 587 Other deposits 22% 82 239 159
Slide 114: Balance sheet composition
Balance sheet composition1 CBA has stable, high quality assets and conservative funding settings Europe US CBA Assets – CBA has a stable, high quality asset profile: Assets Liab + Equity Assets Liab + Equity Assets Liab + Equity • High proportion of well secured home lending assets 6% 10% 5% 6% • Ve
Slide 115: Liquidity
Liquidity Disciplined approach to liquidity risk management Liquidity Coverage Ratio (LCR)1 Liquid assets1 Cash Retail and SME deposits Dec 2023 (Qtr avg) Dec 2023 (Qtr avg) ($bn) Govt, semi Deposits in NSFR2 ($bn) & other As at December 2023 268 187 140% Peers as at September 20231 136% 210 91 350
Slide 116: Wholesale funding
Wholesale funding Wholesale funding is diversified across differing products, currencies and tenor Portfolio mix Short-term funding by product $bn Long-term funding1 Certificates of deposits 57% 158 58% Central bank deposits 20% Short-term funding2 81 30% Commercial paper 14% Term Funding Facility (
Slide 117: Funding and liquidity metrics
Funding and liquidity metrics1 Conservative funding and liquidity metrics maintained NSFR NSFR (%) Dec 23 121% 1.2 2.9 (4.2) 874 − 0.3 (1.3) 723 (2.0) Residential Retail/SME 124 Mortgages ≤ Deposits 80% LVR2 121 Other loans Wholesale funding & other $bn Liquids & other assets3 Capital Jun 23 Capital
Slide 118: Capital overview
Capital overview Strong capital position maintained CET1 CET1 Dividend per share (cents) CET1 APRA +536% Payout Ratio (cash NPAT basis)1 Level 2 Level 1 International 190% 19.0% 170% Assets 200 200 210 215 150% 150 175 130% +190% 12.3% 12.5% 74% 79% 68% 72% 110% 67% 62% 90% 70% 50% Dec 23 Dec 23 Dec
Slide 119: CET1 – International
CET1 – International APRA’s revised capital framework remains more conservative than Basel framework CET1 International adjustments1 Level 2 Definition Risk weighting equity investments, deferred tax assets, capitalised expenses which are fully deducted from CET1 1.7% of Capital under APRA rules 19.
Slide 120: Capital management
Capital management Disciplined & balanced approach to optimise growth, reinvestment, shareholder returns & flexibility Capital generation Capital flexibility Reinvested in the Group Distributed to shareholders Retained Franchise growth Investment1 Dividends Capital return Surplus retained Credit RWA
Slide 121: Capital – summary
Capital – summary Strong capital position maintained in 1H24 Key capital ratios (%) Dec 222 Jun 233 Dec 233 • CET1 ratio of 12.3% • 2023 final dividend and 2024 interim dividend – DRP neutralised CET1 capital ratio 11.4 12.2 12.3 • Commencement of the previously announced $1bn on-market share buy-ba
Slide 122: Capital – RWA drivers
Capital – RWA drivers Lower RWA driven by lower IRRBB and Traded Market Risk RWA, partly offset by CRWA growth CET1 (Level 2)1 Total Risk Weighted Assets (RWA)1 bpts $bn (86) 107 11 (3) (11) 468 5.9 (5.8) (6.3) 1.8 464 12.2% 12.3% Market Risk 15 10 Credit Risk2 (15) IRRBB 47 40 IRRBB 16 45 Market Ri
Slide 123: Capital – share count
Capital – share count Lower share count supports higher shareholder returns and dividends Number of shares (m)1 Dividend per share ($) CBA Peers CBA Peers Capital raisings for 3,502 strengthening 3,120 3,008 2.15 during GFC 1,776 0.59 0.83 0.58 0.81 1,516 1,675 0.70 1,506 0.29 1,260 0.26 Increase du
Slide 124: Capital – divestments/buy-backs
Capital – divestments/buy-backs Announced divestment program – $9.2bn returned to shareholders to date Divestments CET1 Associated Completed buy-back ~$11bn PT Bank Commonwealth Mid CY24 $10bn General Insurance Sep 22 On-market $1bn Bank of Hangzhou (HZB)1 Jun 22 (in progress) Colonial First State (
Slide 125: CET1 – Level 1 vs Level 2
CET1 – Level 1 vs Level 2 CET1 Level 1 of 12.5%, 20bpts above Level 2 Commonwealth Bank Level 1 12.5% of Australia RWA of Level 2 banking subsidiaries (170) Offshore Branches and Extended Licensed Entities Level 1 Higher reserves and retained earnings at Level 2 110 ASB Bank Ltd (ASB) Elimination of
Slide 126: CET1 – Level 1
CET1 – Level 1 CET1 Level 1 of 12.5%, 20bpts above Level 2 Level 1 vs Level 2 CET1 (Level 1)1 CBA vs Peers bpts 20bpts 20bpts (10bpts) (10bpts) L1 vs L2: +20bpts CBA Peer 3 Peer 2 Peer 1 112 10 (4) (15) Dec 23 Sep 23 Sep 23 Sep 23 (96) 12.5% 12.5% 12.3% 10.25% 1.00% CCyB4 1.00% D-SIB Capital 3.75% c
Slide 127: Leverage ratio
Leverage ratio Well in excess of regulatory minimum Leverage ratio1 bpts 5.1% (30) 37 (1) (10) (6) 5.0% The ratio reduced by 10 basis points on the prior half with an increase in exposures and payment of the 2H23 dividend, partly offset by capital generated from earnings. Jun 23 2H23 Dividend Cash O
Slide 128: Capital – regulatory changes
Capital – regulatory changes Basel III reforms in Australia finalised and a number of regulatory changes in progress Change Implementation Details • Implemented on 1 Jan 2023 with the aim to increase the risk sensitivity within the capital framework, enhance the ability of ADIs to APS 110, 111, 112,
Slide 129: Capital – total capital
Capital – total capital Well placed to meet APRA requirements for loss-absorbing capacity (LAC) • Total capital at Dec 2023 of 20.5%, $10.6bn above 1 Jan 2026 requirement of 18.25%. • With 5.8% of Tier 2 at Dec 2023 CBA is well positioned to meet the 1 Jan 2026 LAC requirement of 6.5%. Jan 2024 Jan
Slide 130: Regulatory expected loss
Regulatory expected loss1 For non-defaulted exposures, eligible provisions in excess of regulated expected losses added back to Tier 2 capital Dec 22 Jun 23 Dec 23 $m Defaulted Non-defaulted Defaulted Non-defaulted Defaulted Non-defaulted Regulatory expected loss (EL) 1,361 3,122 1,253 2,377 1,506 2
Slide 131: Economic overview
Economic overview
Slide 132: Key Australian economic indicators (June FY)
Key Australian economic indicators1 (June FY) GDP % Headline CPI % Unemployment rate % Financial year average Year on year, June quarter June quarter average GDP Nominal GDP 6.1 6.0 5.2 4.3 4.6 3.8 3.6 4.3 11.8 3.8 3.4 3.1 9.7 2.9 2.1 1.9 5.3 1.3 3.9 4.2 2021 2022 2023 2024 2025 2021 2022 2023 2024
Slide 133: Key Australian economic indicators (December CY)
Key Australian economic indicators1 (December CY) GDP % Headline CPI % Unemployment rate % Calendar year average Year on year, December quarter December quarter average GDP Nominal GDP 7.8 4.7 4.5 4.5 3.5 3.8 5.6 11.5 12.5 4.1 3.9 3.5 3.0 2.5 5.5 5.4 2.6 2.0 3.4 1.2 2021 2022 2023 2024 2025 2021 202
Slide 134: The global economy
The global economy Economic growth to slow before easing cycle commences Lower inflation opens the door to interest rate cuts1 Official interest rates at peak, rate cuts middle 20241 World economic growth to expand modestly2 Core inflation (annual change) Official interest rates World economic growt
Slide 135: The Australian economy
The Australian economy Cost of living challenges, inflation moderating Inflation moderating1 Goods prices lower, services prices sticky2 Real household disposable income falling2 Inflation (annual change) Inflation (annual change) Household incomes (annual change) % % % 9 10 Goods 13 Quarterly CPI 8
Slide 136: The Australian economy
The Australian economy Economic growth moderating Momentum in the economy slowing late 20231 A GDP per capita in recession1 Population growth has been a tailwind1 GDP growth GDP index Population growth (annual change) % Index % 15 Aggregate 3 112.5 Annual change 110.0 Population 10 growth 107.5 2 5
Slide 137: The Australian economy
The Australian economy Higher cost of living impacting consumers The cash rate hiking cycle has been large1 Consumer sentiment weak, consumption slowing2 Consumer spend patterns shifting3 RBA cash rate Consumer sentiment Household spending per capita (index = 100, Q1 19) % Index % May 110 Discretion
Slide 138: The Australian economy
The Australian economy Slowing growth, remains resilient Labour demand weakening1 Unemployment to rise from here2 Government investment and spending supporting Labour demand Unemployment rate (with CBA forecast) the economy2 % Index = 100 in 2015 Index Public investment 8 170 250 Applicants per ad 1
Slide 139: Housing sector
Housing sector Strong house price recovery Home prices rose over the past year1 Driven by low stock on the market, now rising1 Home lending has risen modestly2 Dwelling prices (8 capital cities) CoreLogic total listings (rolling 4 weeks, combined capitals) Housing loan approvals (excluding refinanci
Slide 140: Key New Zealand economic indicators (June FY)
Key New Zealand economic indicators (June FY) GDP % CPI % Unemployment rate % Financial year average Year on year, June quarter June quarter average 5.2 GDP Nominal GDP 7.3 4.7 6.0 4.0 3.6 8.6 3.3 6.1 8.0 6.1 3.3 3.6 3.0 4.4 2.3 3.0 0.7 0.5 (0.2) 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 202
Slide 141: New Zealand
New Zealand Slowing economy, headwinds impacting USD Dairy prices undergone a modest recovery Growth is softening as headwinds bite Slowing growth likely to generate labour market Global dairy trade auction results1 (USD/tonne) NZ GDP growth (annual average)2 slack NZ unemployment rate3 % (f) 6 6,00
Slide 142: Sources, glossary & notes
Sources, glossary & notes
Slide 143: Sources and notes
Sources and notes Slide 5 1. Average monthly unique customers who engaged with one of our money management features in the CommBank app between July to December 2023. Money management features include Money Plan, Spend Tracker, Bill Sense, Category Budgets, Cash Flow View, Goal Tracker, Credit Score
Slide 144: Sources and notes
Sources and notes Slide 22 1. Based on most active app users. 2. The total number of customers that have logged into the CommBank app at least once in the month of December 2023. 3. Uplift in the number of monthly logins for the 12 months to December 2023 vs the prior comparative period. 4. Refers t
Slide 145: Sources and notes
Sources and notes Slide 67 1. Percentage growth calculations are based on actual numbers prior to rounding to the nearest billion on a non-annualised basis. 2. Source: RBA Lending and Credit Aggregates. 3. Business including select financial businesses. CBA excludes Cash Management Pooling Facilitie
Slide 146: Sources and notes
Sources and notes Slide 84 1. Comparative information has been restated to conform to presentation in the current period. 2. Camorra Retail Market Monitor NPS. Shown on a 12 month roll, peers include ANZ, BNZ, Kiwibank and Westpac. 3. Kantar Business Finance Monitor NPS. Includes All Businesses ($0-
Slide 147: 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 MFI Share – Business DBM Atlas (part of RFI Global) Business MFI Share. Data on a 6 month roll weighted to the Australian
Slide 148: Our reporting suite
Our reporting suite Committed to transparent reporting Investor Discussion Pack Annual Report Climate Report Corporate Governance Statement Sustainability Reporting Appendix Profit Announcement Pillar 3 Report Green, Social and Modern Slavery and Human Sustainability Funding Trafficking Statement Im
Slide 149: Contact us
Contact us Investor Relations Media Relations Investor Centre Melanie Kirk Danny John For more information Investor Relations Media Relations commbank.com.au/investors +61 2 9118 7113 +61 2 9118 6919 CBAInvestorRelations@cba.com.au media@cba.com.au 149
Commonwealth Bank of Australia — 1H24 Earnings Presentation on 6ix