Commonwealth Bank Of Australia · ASX:CBA
Commonwealth Bank Of Australia — 1H26 Earnings Presentation
135 slides from Commonwealth Bank Of Australia's earnings presentation, Feb 11, 2026
Slide 1: Results Presentation and Investor Discussion Pack
Results Presentation and Investor Discussion Pack For the half year ended 31 December 2025 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, 11 February 2026. It is information given in summary form and does not purport to be complete. It is intended to be read by a prof
Slide 3: Contents
Contents CEO & CFO presentations 4 Overview & strategy 39 Financial overview 52 Home & consumer lending 71 Business & corporate lending 84 Funding, liquidity & capital 94 Economic overview 118 Sources, glossary & notes 126
Slide 4: Results presentation
Results presentation Matt Comyn, Chief Executive Officer
Slide 5: This result
This result 1 Customer focus, consistent and disciplined execution MFI share Transaction accounts Deposit funding 5% Statutory NPAT 33.5% Retail MFI2 >585k retail accounts3 26.9% Business MFI2 >85k business accounts 79% Dec 25 Dec 25 vs Dec 24 % of total funding 6% Cash NPAT Cash NPAT Dividend per s
Slide 6: Franchise strength
Franchise strength Disciplined growth in all key segments – stable margin management through the cycle Disciplined volume growth Prudent margin management Growth vs system 1H26 margins by division7 12 months to Dec 25 bpts System 1.3x 1.3x 1.0x vs 1H25 Flat +3bpts +1bpt +6bpts 336 Home lending Home
Slide 7: Sustainable growth
Sustainable growth Well positioned to organically fund growth Growth above historical levels Strong organic capital generation Profitable growth Domestic system growth rate1 Return on equity2 NII & lending growth rate8 12 months to Dec 25 2-year CAGR Change 10-year CAGR vs 10- +0.6% (0.6%) (1.3%) (0
Slide 8: Financials
Financials 1 Cash NPAT up 6% – strong operational performance, disciplined growth, 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 Flat loan stable underlying margin
Slide 9: Core franchise
Core franchise Building stronger, deeper customer relationships Better understanding of 2 customer needs and risk Stronger customer relationships • Technology leader, history of innovation 1 and frequency of engagement • Leading decisioning technology • Higher quality, lower risk lending • Australia
Slide 10: Performance summary
Performance summary Executing our strategy to deliver better outcomes • Leading NPS1 in Consumer and Institutional – #1 in Consumer for 38 consecutive months • NPS1 leadership across consumer mobile app and consumer digital Customer • Increased total number of transaction accounts by >85k in busines
Slide 11: Retail Banking Services
Retail Banking Services Stronger, deeper customer engagement driving long - term franchise strength Retail MFI share3 Retail transaction accounts4 1 in 3 CommBank app Australians describe CBA Dec 25 as their main financial institution Nearest peer vs Dec 24 +5% >14 million daily logins to the CommBa
Slide 12: Business Banking
Business Banking Extending leadership through strong customer relationships, differentiated proposition Business MFI share2 Business transaction accounts 1 in 4 CommBiz Mobile Australian businesses describe CBA as their main financial institution CBA vs Dec 24 +7% +310bpts 1.3x system Business lendi
Slide 13: Institutional Banking & Markets
Institutional Banking & Markets Franchise strength supporting Institutional and Business customers Institutional NPS2,3 Deposit funding ratio4 #1 CommBank IQ in Institutional MFI share $500m+ category among majors2 Net deposit Avg of major #1 funding contribution +$64bn bank peers Dec 25 (spot) #1 C
Slide 14: ASB
ASB Accelerating progress for all New Zealanders Digitised home Reputation score2 Volume growth3 Digital Bank of the year buying origination for four consecutive years8 12 months to Dec 25 Avg of major System NZ banks 7.5% 22% share of active retail customers9 76.7 5.3% 75.5 72.9 71.8 3.7% 5.9% 4.6%
Slide 15: Credit quality
Credit quality TNPE & hardship lower – credit quality sound, conservative provisioning for rising geopolitical uncertainty Troublesome & non-performing Hardship Provisioning2 exposures1 Number of home loan cases in hardship Total provisions vs Central ECL3 % of TCE Dec 25 0.89% (28%) $6.3bn 0.95% 0.
Slide 16: 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 $199bn 12.3%6 5.4 73% 11.7%5 10.25% 57% 140 APRA 3
Slide 17: Deposits
Deposits More competitive offerings benefitting depositors Offset and redraw Household debt has eased Deposit interest CBA offset and redraw balances Household credit to household Average rate paid to at-call household deposits5 $bn disposable income4 % Industry variable 3.7% 6.3% 6.0% 5.6% OO home
Slide 18: Households driving a growth rebound
Households driving a growth rebound Shift in economic demand from public sector to households Spend up across age cohorts1 Household demand now Housing costs driving CPI3 Spending growth, YoY driving growth Contribution to CPI, YoY Oct – Dec 25 Contribution to GDP growth, YoY2 Oct – Dec 24 GDP growt
Slide 19: Building a brighter future for all
Building a brighter future for all By executing our strategy we deliver on our purpose Build Australia’s Reimagine customer Lead in Deliver simpler, Our strategy future economy experiences technology and AI safer and better How we deliver on our Grow the economy and Help customers achieve Empower ou
Slide 20: Supporting our customers and communities
Supporting our customers and communities Delivering better outcomes • Supporting our customers with ongoing cost-of-living pressures • Provided more than 63,000 tailored payment arrangements for customers most in need of support1 Supporting • Helped our customers buy more than 79,000 homes2 and prov
Slide 21: Results presentation
Results presentation Alan Docherty, Chief Financial Officer
Slide 22: Results overview
Results overview Long - term approach delivering superior shareholder returns Operating context Management response Long-term franchise implications • Strong growth in system credit and money supply • Committed to supporting and protecting our customers • Leading Retail & Business MFI1 share • Compe
Slide 23: Statutory vs cash NPAT
Statutory vs cash NPAT 1 Statutory NPAT of $5.4 billion – broadly in line with Cash NPAT $m 1H25 2H25 1H26 Statutory NPAT – continuing operations 5,142 4,991 5,412 Non-cash items: Includes Bank of Hangzhou, SAF sales, - Transaction costs and gains/(losses) on Commonwealth Private Advice and other 9
Slide 24: 1H26 result
1H26 result 1 Cash NPAT up 6% vs 2H25 – strong operational performance, disciplined growth, investment in the franchise 1H26 vs 1H26 vs $m 1H26 1H25 2H25 Operating income 15,021 6.6% 4.5% Underlying operating expenses 6,720 5.5% 3.5% Restructuring and notable items2 170 Operating performance 8,131 5
Slide 25: Operating income
Operating income 1 Higher income through disciplined franchise growth • Recognition of a milestone payment in relation to the sale of CommInsure General Insurance; • Margin excl. liquids & repos2 Flat • Fair value gain on investment in Gemini following its • Average lending volume growth +7.0% Initi
Slide 26: Long-term focus on franchise strength
Long - term focus on franchise strength Deepening customer relationships driving strong volume growth across core segments Retail Business Retail Deposits Home Lending Business Deposits Business Lending Customers with a transaction account1 Proprietary funding3 Cumulative growth5 Cumulative growth P
Slide 27: Group margin
Group margin Lower margin largely due to growth in liquids and repos Minimal impact on earnings (3) (2) 1 1 (1) 208 - 204 Increase in liquid assets1 (2) Deposits growing Increase in institutional (1) faster than lending repos1 Home loan pricing bpts 2H25 Liquids & Asset Funding Portfolio Replicating
Slide 28: Operating expenses
Operating expenses 1 Inflation, investment in technology and proprietary distribution driving higher expense growth Underlying cost to income: 45.2% 44.7% Contribution to mvt: +4.3% +3.5% +1.2% (0.1%) (3.4%) +5.5% 78 (6) (221) 222 275 6,720 6,372 • Higher cloud consumption and Average first half cos
Slide 29: Credit risk
Credit risk Impairment expense remains low – improving arrears, lower corporate TNPE – sound credit quality Loan impairment expense Arrears2 Troublesome & non-performing exposures3 Loan loss rate, bpts1 90+ days Corporate, $bn 1H25 2H25 1H26 Home loans Personal loans Credit cards % of TCE: 0.80% 1.1
Slide 30: Provisioning
Provisioning 1 Strong provision coverage maintained – elevated geopolitical tensions and global macroeconomic uncertainty Total credit provisions Provisions and scenarios Dec 25 TP/CRWA: 1.29% 1.60%2 1.55%2 8.5 $6.3bn $6.3bn 6.4 4.8 ~$2.8bn above 3.3 3.3 Corporate 3.6 central scenario 3.1 3.0 Consum
Slide 31: 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 multiple economic scenar
Slide 32: Funding
Funding Long - term conservative settings Deposit funding Funding composition Liquid assets5 $bn % of total funding Average6, $bn % of total funding WAM1 Liquids as a % of total assets 57% 73% 79% 3.5yrs 5.4yrs 5.2yrs 10% 14% 14% 199 8% 7% 956 Short-term 24% 14% wholesale2 19% 23% AT1/T24 16% AT1/T2
Slide 33: Capital
Capital 1 Strong capital position supporting franchise growth and dividends Movements in bpts Level 1 12.2% +12.3% (87) 107 (33) 9 12.3% 10.25% Credit Risk4 (34) APRA minimum5 Operational Risk (9) Market Risk (1) IRRBB 11 3 Jun 25 2H25 dividend 2 Cash NPAT RWA Other Dec 25 Level 2 (DRP neutralised)
Slide 34: Dividends
Dividends Long - term sustainable returns • Interim dividend of $2.35, a 10c increase on 1H25 dividend Sustainable returns Dividend per share (cents) 83% • DRP with no discount and expected to be fully neutralised 225 235 215 78% ~75% ~74% • Half year payout ratio of ~74% on a normalised basis, 73%
Slide 35: Long-term approach to capital management
Long - term approach to capital management Disciplined and balanced approach to optimise growth, reinvestment, shareholder returns and flexibility Capital generation Capital flexibility Reinvested in the Group Distributed to shareholders Retained Franchise growth Franchise investment Dividends Capit
Slide 36: Disciplined approach, supporting sustainable returns
Disciplined approach, supporting sustainable returns Our long - term approach supports strong, sustainable shareholder returns Franchise growth, investment and superior returns Strong return on equity and generation Disciplined capital management, ongoing Delivering superior and sustainable of organ
Slide 37: Economic outlook
Economic outlook Growth improving and becoming more broad - based, but risks elevated • Australian economic growth is recovering faster and stronger than expected - Household spending is rising consistently, including on discretionary items - Strong income growth has rebuilt savings buffers and supp
Slide 38: Summary
Summary Growth through consistent, disciplined execution focused on the long term Customers • Supporting and protecting our customers Net Promoter Score1 Rank Market share Rank Consumer #1 Household deposits2 #1 Business #2 Home lending3 #1 • Reimaging customer experiences by investing in technology
Slide 39: Overview & strategy
Overview & strategy
Slide 40: Why CBA?
Why CBA? Leading franchise – strong balance sheet settings – supports sustainable shareholder returns Retail MFI share1 Home lending share2 Household deposits share3 Business MFI share1 Nearest peer 42.1% 41.8% 14.1% 12.9% 33.5% 18-24 25-34 years years 24.6% 26.6% 26.9% 19.9% 20.7% 18.8% 18.5% 15.9%
Slide 41: Franchise strength
Franchise strength Building stronger, deeper customer relationships – strengthening long - term franchise Retail Retail MFI share1 Retail transaction accounts2 Home lending4 Home loans with a transaction account Dec 25 #1 vs Dec 24 +5% vs Dec 24 +7% 622 33.5% 11.4 12.0 452 584 >97% 15.9% m 8.9 $bn 1
Slide 42: Reimagining banking
Reimagining banking Franchise strength – supporting our customers across their lifecycle CBA Retail MFI share1 Retail MFI share1 Dec 25 Jun 25 1 in 3 Australians Dec 25 #1 42.4% 42.1% 41.8% 35.1% 33.5% 27.0% 24.5% 15.9% 13.9% 11.9% Customer lifecycle CBA Peer 3 Peer 1 Peer 2 Aged 14-17 Aged 18-24 Ag
Slide 43: How we contribute to Australia
How we contribute to Australia 1 Supporting our customers, the community and the economy Customers & domestic debt investors2 Our people 27% $10.7bn $3.4bn $15.4m leading retail bank interest paid to paid in salaries and invested in share of market3 Australian savers superannuation to upskilling our
Slide 44: Our strategy
Our strategy Building tomorrow’s bank today for our customers Our purpose Building a brighter future for all Our priorities Build Australia’s Reimagine Lead in Deliver simpler, future economy customer experiences technology and AI safer and better Help businesses Deep and trusted Modernised technolo
Slide 45: Strengthening trust in banking
Strengthening trust in banking Our risk culture supports our people’s decision making to deliver better outcomes Our risk culture framework Our approach to risk culture Living Our Values • Our risk culture reflects the beliefs and behaviours by our people that determine how risks are managed + • We
Slide 46: Reimagining customer experiences
Reimagining customer experiences Extending our market - leading digital ecosystem - building deeper, stronger customer relationships CommBank app CommBank Yello Everyday Investing Travel Booking Car buying Australia’s most popular banking app1 Recognise & reward customers, Easy and accessible way to
Slide 47: Reimagining banking
Reimagining banking Building on a history of innovation to reimagine banking 24/7 NetBank Core banking Customer CommBank Partnering with CommBank Yello Full functionality Real-time banking Engagement Engine app 4.0 industry leaders CommBank Yello relaunched, 24-hour online and settlement Learns from
Slide 48: Reimagining customer experiences
Reimagining customer experiences Australia’s most popular banking app – building stronger, deeper customer engagement Australia’s most popular banking app1 >9.4 million active app users5 Integrated shopping Bank of the Year Digital Banking >14 million 16 years in a row2 daily logins to the QR Cardle
Slide 49: Leading in technology and AI
Leading in technology and AI Reimagining banking using our world - class data, AI and analytics platform The evolution of AI at CBA 2015–2020 2021–2022 2023 2024 2025 2026+ • Customer Engagement • CommBank.ai established • Established Gen.ai Studio • GenAI powered • Accelerated investment to • #1 AP
Slide 50: Reimagining customer experiences – home loans
Reimagining customer experiences – home loans 1 Simpler, smarter and faster home buying and ownership experience CommBank app Simple & seamless applications – easier, more intuitive • Application – simple, intuitive digital applications with fast initial approval – includes first-home buyer schemes
Slide 51: Helping to keep our customers safe and secure
Helping to keep our customers safe and secure Investing and innovating to help protect our customers Truyu Security • Investing over $1 billion to help protect customers against fraud, scams, cyber threats & financial crime 3 SMS Scam Checker notifications • >4.1 million notifications via intelligen
Slide 52: Financial overview
Financial overview
Slide 53: Overview – 1H26 result
Overview – 1H26 result 1 Key outcomes summary Financial Balance sheet, capital & funding Statutory NPAT ($m) 5,412 +5.3% Capital – CET12,5 (Int’l) 18.3% (50bpts) Cash NPAT ($m) 5,445 +6.1% Capital – CET12 (APRA) 12.3% +10bpts ROE (cash) 13.8% +10bpts Total assets ($bn) +7.7% 1,409 EPS cents (cash) 3
Slide 54: Overview – 1H26 result
Overview – 1H26 result Key financial outcomes Cash NPAT1 ($m) NIM1 Cost to income1 Cash ROE1 +6% (4bpts) +70bpts +10bpts +6% (4bpts) (20bpts) +40bpts 5,445 2.08% 2.08% 2.04% 5,132 5,120 46.1% 45.9% 13.8% 45.2% 13.7% 13.4% 1H25 2H25 1H26 1H25 2H25 1H26 1H25 2H25 1H26 1H25 2H25 1H26 Cash EPS1 (cents)
Slide 55: Cash NPAT by division
Cash NPAT By division 1 RBS BB IB&M NZ (NZD)2 vs 1H25 vs 1H25 vs 1H25 vs 1H25 • Income +6% • Income +8% • Income +9% • Income +8% • Expenses +7% • Expenses +8% • Expenses +5% • Expenses3 +21% • Impairment expense +$153m • Impairment expense ($129m) • Impairment expense ($17m) • Impairment expense ($
Slide 56: Balance sheet
Balance sheet 1,2 Disciplined volume growth Group lending Dec 25 vs Dec 25 vs $bn Dec 24 Jun 25 Dec 25 Jun 25 Dec 24 +7.3% Home loans 685.3 707.9 730.2 3.2% 6.6% +3.3% Consumer finance 0.8% 2.1% 16.9 17.1 17.2 Business loans3 183.8 194.6 201.6 3.6% 9.7% 1,013.3 1,046.4 974.8 Institutional loans 88.9
Slide 57: Volume growth
Volume growth Disciplined approach to growth 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) 11.6% 12.3%9.8% 9.7% 9.0% 9.6% 8.5% 6.6% 6.6% 7.5% 6.6% 3.7% 3.5% 5.6%
Slide 58: Market share
Market share 1 Disciplined approach – strong market share % Dec 24 Jun 25 Dec 25 Home lending2,9 Household deposits3,9 Home loans – RBA2 24.6 24.6 24.6 CBA Peers CBA Peers Break in series Break in series Home loans – APRA3 25.4 25.3 25.4 40% Break in series from Jun 21 40% Break in series from Jun 2
Slide 59: Group margin – 12 months
Group margin – 12 months Lower margin due to growth in liquids and repos – competition effects offset by replicating portfolio Minimal impact on earnings (4) 6 (2) (2) (3) 208 1 204 Increase in liquid (3) assets1 Deposit competition, mix and lower cash rate Increase in institutional repos1 (1) Home
Slide 60: Group margin
Group margin Deposit hedge earnings higher – with swap rates increasing in 1H26 Replicated portfolio (RP) & equity hedge1 Liquidity & basis risk • In 1H26, replicating portfolio earnings benefitted from higher average rates Liquidity • Every additional $10bn of liquid assets is expected to reduce G
Slide 61: Deposit switching
Deposit switching Increasing at - call deposit mix Retail deposits1,2 Business deposits1,2,3 $bn $bn 501 348 459 316 316 430 11% 16% 330 12% 11% 15% 16% 18% 19% 197 NIB 10% 17% Offsets 15% NIB 11% 53% 53% 52% 46% 47% 49% At-call 39% At-call 62% Term deposits 36% 25% 24% 21% 32% 31% 32% Term deposits
Slide 62: Margins by division
Margins by division 1 Careful margin management despite continued competitive pressure RBS BB IB&M (ex Markets)2 NZ (ASB)3 Lower deposit margins from competition, Higher earnings on the replicating Lower deposit and lending margins, Higher treasury and replicating portfolio mix shift to higher yield
Slide 63: Other operating income
Other operating income 1 Higher Markets trading and CommSec equities income, and non - recurring items Other operating income Trading income 1H26 vs 1H25 • Lower Structured Asset Finance revenue 2,279 2,326 following the sale of the aircraft leasing 2,163 portfolio, partly offset by 680 122 112 Othe
Slide 64: Sequential half operating income
Sequential half operating income 1 Higher income achieved through disciplined franchise growth – slightly lower margin excluding liquids & repos • Margin excl. liquids & repos2 (1bpt) • Recognition of a milestone payment in relation to • Average lending volume growth +3.4% the sale of CommInsure Gen
Slide 65: Sequential half operating expenses
Sequential half operating expenses 1 Inflation driving higher sequential expense growth – investments largely offset by productivity Underlying cost to income 45.2% 44.7% Contribution to mvt: +3.6% +1.7% +0.8% (0.7%) (1.9%) +3.5% 108 49 (42) (125) 236 6,720 6,494 • Higher cloud consumption and Cumul
Slide 66: Cost approach
Cost approach Continued investment in infrastructure, modernisation and AI - mix shift towards productivity and growth Cost reduction Investment spend Cumulative savings1 Examples Capitalised software ($bn) 2.8 Continued investment in 1.9 1.9 2.1 2.6 1.8 1.7 • AI-powered messaging solutions modernis
Slide 67: Investment spend
Investment spend Continued investment in technology to accelerate infrastructure refresh and enhance AI capability Investment spend Delivered in 1H26 Gross spend Focus of increased investment $bn • Migration of Core Banking to Cloud – one of the largest and fastest migrations globally 2.4 Accelerate
Slide 68: Loan losses
Loan losses Loan impairment expense remains low Loan loss rate1 Loan loss rate by business unit1,2 bpts bpts 7 8 6 16 13 4 Consumer Corporate 3 6 7 1H25 1H26 1H25 2H25 1H26 41 33 25 17 76 21 20 19 50 43 16 16 15 15 16 12 8 7 24 23 20 7 9 7 6 6 6 13 11 8 10 14 15 4 3 2 3 26 19 18 18 18 18 18 26 16 4
Slide 69: Provisions
Provisions 1 Strong provision coverage maintained Provision coverage2/CRWA Provisions by stage % Total Credit Credit Stage 2 exposures provision exposures provisions by credit grade3 coverage 1.64 1.55 $m Jun 25 Dec 25 Jun 25 Dec 25 1.41 1.29 Stage 1 1,023,199 1,076,830 1,824 1,982 $196bn $186bn 9 C
Slide 70: Financial performance
Financial performance 1 1H26 financial performance by division RBS BB IB&M ASB (NZD) Cost to income Cost to income Cost to income Cost to income 39.5% 39.9% 42.0% 40.2% 40.8% 45.7% 32.3% 32.2% 1H25 1H26 1H25 1H26 1H25 1H26 1H25 1H26 6,871 50% of 42% of 12% of 11% of Group Group Group 1,835 Group NPA
Slide 71: Home & consumer lending
Home & consumer lending
Slide 72: Home loans – overview
Home loans – overview Disciplined strategic and operational execution, targeted growth – focus on sustainable returns Consistent market share performance1 Fundings weighted towards proprietary distribution 25% 25% Fundings mix2 Fundings mix2 Fundings mix3 1% 1% Proprietary 22% 1% Fixed originated ho
Slide 73: Home loans – CBA
Home loans – CBA 1 A disciplined approach to portfolio quality, growth and sustainable returns Portfolio1 Dec 24 Jun 25 Dec 25 New business1 Dec 24 Jun 25 Dec 25 Total balances – spot ($bn) 616 634 659 Total funding ($bn)9 87 85 105 Average funding size ($’000)10 490 490 522 Total balances – average
Slide 74: Home loans – CBA ex BWA
Home loans – CBA ex BWA 1 A disciplined approach to portfolio quality, growth and sustainable returns Portfolio1 Dec 24 Jun 25 Dec 25 New business1 Dec 24 Jun 25 Dec 25 7 Total balances – spot ($bn) 511 523 540 Total funding ($bn) 68 67 83 Average funding size ($’000)8 487 491 526 Total balances – a
Slide 75: Home loans – serviceability assessment
Home loans – serviceability assessment 1 93% 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 • Removed Low doc and EQFS products • All income used in appli
Slide 76: Home loans – borrowing capacity
Home loans – borrowing capacity 1 Improved borrowing capacity from lower interest rates Borrowing capacity2 % of applicants with Application gross income band6 Change in maximum borrowing capacity2 – indexed Dec 16 additional capacity to borrow3 6 months to Dec 25 – Funding $ 89% 90% 90% Owner occup
Slide 77: Home loans – resilience
Home loans – resilience 1,2 Higher savings buffers and low DLVR – arrears lower Average payments in advance3,4 Offset and redraw balances # of payments $bn % customers in advance3 82% 81% 85% 87% 164 148 149 35 35 31 32 67 95 63 64 Redraw5 46 85 85 97 Offset1 49 Dec 19 Dec 24 Jun 25 Dec 25 Dec 19 De
Slide 78: Home loans – savings and repayment buffers
Home loans – savings and repayment buffers Higher savings and repayment buffers Repayment buffers1 Payments on time1 % of accounts % of accounts Residual 85% 87% 81% Dec 24 Structural: e.g. fixed rate loans % customers Jun 25 New accounts: <1 year on book in advance2 Dec 25 Investment loans: negativ
Slide 79: Home loans – portfolio DLVR
Home loans – portfolio DLVR 1 Portfolio DLVR of 41% – supported by strong house price growth Dynamic LVR bands2 Average dynamic LVR3 Dec 24 Negative equity4 Jun 25 % of total portfolio balances Dec 25 Proportion of balances in negative equity Dec 24 42% 80% • 75% of customers ahead of repayments 70%
Slide 80: Home loans – non-performing loans, losses & insurance
Home loans – non - performing loans, losses & insurance 1 Non - performing home loans moderating with improved arrears trends – portfolio largely well - secured Australian non-performing home loans2 Australian non-performing, not well-secured home loans2,3 Non-performing home loans have moderated fo
Slide 81: Home loans – arrears (30+ days)
Home loans – arrears (30+ days) Arrears moderating as cost - of- living pressures continue to ease Portfolio Product Repayment and interest type 30+ days Group 30+ days1 Owner occupied 30+ days1 Principal & interest Variable BWA Investment Interest only Portfolio 2.5% ASB 1.5% 1.5% Fixed2 CBA 2.0% 1
Slide 82: Home loans – arrears (90+ days)
Home loans – arrears (90+ days) Arrears moderating as cost - of- living pressures continue to ease 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% ASB 1.0% 1.0% Fixed2 CBA 0.8% 0
Slide 83: Consumer finance – arrears
Consumer finance – arrears 1 Arrears moderating – Bankwest personal loan portfolio in run - off 2 Credit cards Portfolio Group Portfolio By year Group 2020 Group 30+ days BWA Group 90+ days Group 90+ days 2021 BWA ASB 2.5% 2022 6.0% ASB 1.5% CBA 2023 2.0% CBA 2024 4.0% 1.0% 2025 1.5% 1.0% 2.0% 0.5%
Slide 84: Business & corporate lending
Business & corporate lending
Slide 85: Portfolio quality
Portfolio quality 1 TNPE lower – sound portfolio credit quality Exposures by industry1,2 Corporate portfolio quality Total Group TCE by geography AAA A+ BBB+ Investment grade to to to Other Dec 25 Dec 24 Jun 25 Dec 25 TCE $bn AA- A- BBB- Australia 81.8% 81.5% 81.8% Gov. Admin & Defence 181.9 17.9 0.
Slide 86: Total committed exposure
Total committed exposure 1,2 Key sectors of interest TCE ($bn) TNPE ($bn) TNPE % of TCE Provisions % of TCE Dec 24 Jun 25 Dec 25 Dec 24 Jun 25 Dec 25 Dec 24 Jun 25 Dec 25 Dec 24 Jun 25 Dec 25 Government Administration & Defence 175.6 185.4 200.5 0.0 0.0 0.0 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Finance & In
Slide 87: Finance & Insurance
Finance & Insurance Strong credit quality, diversified products • The Finance & Insurance sector showed resilient performance, supported by stable Group exposure Dec 24 demand for banking and insurance services, despite ongoing cost, regulatory, and Jun 25 Dec 25 market volatility pressures. 111.2 1
Slide 88: Commercial Property
Commercial Property Diversified and well - secured portfolio - market conditions improving - TNPE lower • Commercial property market conditions have continued to improve with development Group exposure Dec 24 Jun 25 activity increasing. 112.9 Dec 25 105.4 • Over the half, exposure grew 7.2%. Growth
Slide 89: Agriculture & Forestry
Agriculture & Forestry Stable and well - secured portfolio • The Agricultural sector remains resilient, supported by strong livestock prices Group exposure Dec 24 Jun 25 and stable farm values, though domestic grain prices have trended sideways 33.6 35.0 35.0 Dec 25 to lower given strong domestic an
Slide 90: Entertainment, Leisure & Tourism
Entertainment, Leisure & Tourism Consumer appetite for experiences remains robust • CommBank Household Spending Insights Index shows resilience across Group exposure Dec 24 Jun 25 essential and discretionary spend. 22.4 Dec 25 20.1 20.7 • Hospitality spending increased 7.1% over the 12 months to Dec
Slide 91: Wholesale Trade
Wholesale Trade Moderate growth constrained by cost pressures • Wholesale trade continues to face volatile freight costs and supply chain Group exposure Dec 24 33.0 Jun 25 disruption given heightened geopolitical risks and port congestion. 30.4 Dec 25 27.8 • Rising labour and insurance costs are squ
Slide 92: Retail Trade
Retail Trade Cautious recovery amid easing cost pressures • Household spending has stabilised, with modest growth in discretionary Group exposure Dec 24 Jun 25 categories as consumer confidence improves post interest rate cuts. 24.7 22.8 Dec 25 21.5 • Growth in household disposable income and steady
Slide 93: Construction
Construction Construction continues to recover from difficult conditions • Optimism is returning to the Construction sector, driven by demand in Group exposure Dec 24 Jun 25 housing, renewable energy and infrastructure. This is evidenced by 15.3 16.0 Dec 25 14.9 14.2 increased tender activity, pipel
Slide 94: Funding, liquidity & capital
Funding, liquidity & capital
Slide 95: 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 1H26 Maturity4 68% 69% 68% Issuance Short-term 8% 7% 7% wholesale1 24% 15% 15% 14% 38 Long-term 43% 31 29 19%
Slide 96: Deposit funding
Deposit funding Highest share of customer deposits in Australia – 79% deposit funded Customer deposits vs peers1 Customer deposits by segment4,5 $bn $bn 909 956 % of total funding 70% 79% 874 105 109 12% ASB & Other 101 159 161 17% 6.5 yr IB&M 149 CAGR 956 243 25% 2% 749 723 BB 220 230 581 207 658 1
Slide 97: Deposit funding
Deposit funding Largest share of stable customer deposits in Australia Stable deposits Stable and less stable deposits Retail & SME deposits in NSFR1, $bn Retail & SME deposits in NSFR1, $bn CBA 400 350 Peer 3 CBA Peer 1 350 300 Peer 2 300 250 250 200 Peers 200 150 150 100 100 50 50 0 0 Jun 19 Dec 2
Slide 98: Balance sheet composition
Balance sheet composition 1 CBA has stable, high - quality assets and conservative funding settings Europe2 US3 CBA Assets – CBA has a stable, high-quality asset profile: • High proportion of well-secured home lending assets Assets Liab + Equity Assets Liab + Equity Assets Liab + Equity • Very low p
Slide 99: Wholesale funding
Wholesale funding Wholesale funding diversified across differing products, currencies and tenor Portfolio mix Short-term funding by product1,3 Dec 25 32% 68% Short-term funding 1 Certificates of deposits 52% 2 Jun 25 31% 69% Long-term funding Commercial paper 36% Dec 24 32% 68% MTN 12% Jun 24 34% 66
Slide 100: Funding and liquidity metrics
Funding and liquidity metrics 1 Funding and liquidity metrics remain well above regulatory minimums NSFR NSFR (%) NSFR requirements specify banks must maintain a sufficient profile of Dec 25 stable funding to meet their assets and off-balance sheet activities 3.9 1.2 (2.0) (1.8) 117% (0.2) 0.4 979 1
Slide 101: Capital overview
Capital overview Strong capital position maintained CET1 CET1 Dividend per share (cents) APRA International CET1 Payout Ratio (cash NPAT basis)1 Level 2 Level 1 +588% 225 235 130% 210 215 120% Assets 150 175 110% 100% 18.3% +220% 72% 73% 72% 90% 12.3% 12.2% 67% 62% 68% 80% 70% 60% 50% Dec 25 Dec 25
Slide 102: 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% IRRBB 1.1%
Slide 103: Capital – summary
Capital – summary Strong capital position maintained Key capital ratios (%) Dec 24 Jun 25 Dec 25 • Level 2 CET1 capital ratio of 12.3% • 2025 final dividend – DRP neutralised CET1 capital ratio 12.2 12.3 12.3 • Strong capital position supporting franchise growth and dividends Additional Tier 1 capit
Slide 104: RWA drivers
RWA drivers 1 Higher RWA driven by Credit RWA volume growth partly offset by impact of revised APS 117 CET1 (Level 2) Total Risk Weighted Assets (RWA) bpts $bn (87) 107 (33) 9 0.2 (4.7) 3.4 505 496 10.2 12.3% 12.3% Market Risk 10 10 40 35 IRRBB Credit Risk4 (34) Revised APS 117 impact (10.0) Op Risk
Slide 105: Interest Rate Risk in the Banking Book (IRRBB)
Interest Rate Risk in the Banking Book (IRRBB) ~$10bn reduction to IRRBB RWA under the revised APS 117 framework effective 1 October 2025 IRRBB RWA5 $bn RWA CET1 Components Key changes under revised APS 117 impact impact ($10bn) 40 Optionality and • Removed with underlying risk capitalised as ($20bn
Slide 106: Balance sheet settings underpin long-term franchise value
Balance sheet settings underpin long - term franchise value Stronger capital and earnings resilience to absorb unexpected losses and support more sustainable growth Capital buffers Earnings hedges Funding mix ~$13 billion of capital buffers to fund growth $182 billion of structural hedges to protect
Slide 107: Our long-term approach
Our long - term approach Long - term approach to key settings, strengthened over time Long-term approach to key settings Funding Structural hedges Investment Franking Capital management MFI-led deposit growth Net interest earnings supported Ongoing investment in Maintain healthy franking Tightly man
Slide 108: Our capital management in context
Our capital management in context Strong capital - higher franchise investment and growth supports superior & sustainable shareholder returns Capital management benchmarking Strength Franchise growth Franchise investment Shareholder returns Strong capital position supporting franchise Reinvest in ac
Slide 109: Capital floor
Capital floor 1 Total RWA 74.1% of Standardised RWAs – headroom of ~$11bn against capital floor requirements RWA headroom / (shortfall) to capital floor2 $bn • Capital floor requirements were introduced under APRA’s revised prudential standards effective 1 Jan 2023 to limit the RWA benefit of intern
Slide 110: 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) Total Capital Changes instruments •
Slide 111: Total Capital
Total Capital Well placed to meet APRA revised capital framework effective 1 Jan 2027 • Total Capital ratio of 20.6% as at 31 Dec 25, $12.0bn above 1 Jan 26 requirement of 18.25%. • As at 31 Dec 25, Tier 2 was 6.8%. CBA is well positioned to meet APRA requirements under the revised capital framework
Slide 112: Share count
Share count Lower share count supports higher shareholder returns and dividends Number of shares (m)1 Dividend per share ($) CBA Peers CBA Peers 2.35 Capital raisings for 3,420 strengthening 3,067 during GFC 3,014 0.85 1,776 0.64 0.83 1,516 1,673 0.58 0.77 1,506 0.35 1,260 Increase due to acquisitio
Slide 113: Capital management – share buy-back
Capital management – share buy - back $9.3bn buy - backs completed to date • $300 million of the current $1 billion on-market share buy-back CBA capital management activities completed to date FY22 to 1H26 Cost of capital Dividend impact3 • Completion of remaining $700 million on-market share buy-ba
Slide 114: Capital – divestments/buy-backs
Capital – divestments/buy - backs Announced divestments program – $9.3bn returned to shareholders to date Divestments CET1 Associated Completed buy-back Klarna1,2 Sep 25 Bank of Hangzhou (HZB)3 Jun 25 ~$13bn Commonwealth Private Advice Jun 25 Vietnam International Commercial Joint Mar 25 Stock Bank
Slide 115: CET1 – Level 1
CET1 – Level 1 Strong CET1 Level 1 of 12.2% - well above minimum regulatory requirement CET1 (Level 1)1 bpts RWA of L2 banking subsidiaries +140bpts Higher reserves and retained earnings at L2 (110bpts) Elim. of investments in reg. subsidiaries at L2 (60bpts) Goodwill & intangibles +20bpts L1 vs L2:
Slide 116: Capital – regulatory changes
Capital – regulatory changes A number of regulatory changes in progress Change Implementation Details APS 117 (1 Oct • Non-traded: The final revised APS 117 aims to standardise aspects of the calculation of IRRBB capital to reduce volatility over time and Market Risk 2025) variations between ADIs. T
Slide 117: Regulatory expected loss
Regulatory expected loss 1 For non - defaulted exposures, eligible provisions in excess of regulated expected losses added back to Tier 2 Capital Dec 24 Jun 25 Dec 25 $m Defaulted Non-defaulted Defaulted Non-defaulted Defaulted Non-defaulted Regulatory expected loss (EL) 1,640 2,626 1,618 2,666 1,60
Slide 118: Economic overview
Economic overview
Slide 119: Key Australian economic indicators (Dec CY)
Key Australian economic indicators 1 (Dec CY) GDP % Headline CPI % Unemployment rate % Calendar year average Year on year, December quarter December quarter average GDP Nominal GDP 4.0 3.6 4.4 4.4 3.2 2.3 2.1 5.6 4.7 2.4 2.6 4.2 2.1 1.9 4.5 4.1 3.7 4.0 1.0 3.9 2023 2024 2025 2026 2027 2023 2024 2025
Slide 120: The Australian economy
The Australian economy Australian economy growing around its speed limit and inflation is too high RBA is hiking interest rates again1 As inflation is too high1 With the economy growing at its limit2 RBA cash rate Annual growth in inflation Annual growth in GDP % % % 5 9 15 7 Trimmed Mean CPI Potent
Slide 121: The Australian economy
The Australian economy Australian households are saving and spending All measures of consumer spending has lifted1 As real household disposable income growth rises1 Housing debt servicing costs moderate2 Nominal household spending annual growth Real household disposable income index and trend Share
Slide 122: The Australian economy
The Australian economy Capacity constraints evident with unemployment rate holding steady, large investment pipelines Half of prices rising by more than 3%1 Labour market still tight1 Wages growth above 3% still2 Share of CPI basket Unemployment rate Annual wages growth by CBA and ABS % % % 80 8 Sha
Slide 123: Global backdrop and impact on Australian economy
Global backdrop and impact on Australian economy Global uncertainty elevated but growth and AI a positive Global trade uncertainty index1 Global growth holding up2 Australia’s export exposure to China and the West3 Index Annual growth in global economy Share of Australian real GDP Index % % 800 8 15
Slide 124: Housing sector
Housing sector Home prices rose strongly in 2025 on demand and lower interest rates National home price growth rising again1 Some improvement in housing supply2 New lending just off its recent highs2 Dwelling prices (8 capital cities) Annual total of housing approvals and completions Housing loan ap
Slide 125: Key New Zealand economic indicators (December CY)
Key New Zealand economic indicators (December C Y) 1 GDP % CPI % Unemployment rate % Calendar year average Year on year, December quarter December quarter average 4.7 5.1 5.4 5.0 GDP Nominal GDP 4.6 3.1 4.0 7.0 2.7 5.1 4.8 2.2 2.2 2.8 2.8 3.6 4.2 2.2 0.5 (0.3) 2023 2024 2025 2026 2027 2023 2024 2025
Slide 126: Sources, glossary & notes
Sources, glossary & notes
Slide 127: Sources and notes
Sources and notes Slide 5 1. Variances to prior comparative period on a continuing operations basis. 2. Refer to glossary at the back of this presentation for further details. 3. Total retail transaction accounts, excluding offset accounts. Includes Bankwest. 4. Presented on a continuing operation
Slide 128: Sources and notes
Sources and notes Slide 12 1. Launched in August 2025. 2. Refer to glossary at the back of this presentation for further details. 3. Represents Business Banking divisional business loan balances on a spot basis. Comparative information has been restated to conform to presentation in the current peri
Slide 129: Sources and notes
Sources and notes Slide 19 1. CBA new fundings including Bankwest, internal refinancing and top-ups, Viridian Line of Credit and Residential Mortgage Group. Excludes ASB. 1H26 vs 1H25. 2. CBA Business lending multiple is based on Business Banking growth rate (excluding Institutional Banking and Mark
Slide 130: Sources and notes
Sources and notes Slide 41 1. Refer to glossary at the back of this presentation for further details. 2. Total retail transaction accounts, excluding offset accounts. Includes Bankwest. 3. Source: APRA Monthly Authorised Deposit-taking Institution Statistics (MADIS). 4. Source: RBA Lending and Credi
Slide 131: Sources and notes
Sources and notes Slide 49 1. Data source: Customer Engagement Engine Reporting. 2. Evident AI Index 2023 published by Evident Insights Index, October 2023. 3. Evident AI Index 2024 published by Evident Insights Index, October 2024. 4. Evident AI Index 2025 published by Evident Insights Index, Octob
Slide 132: Sources and notes
Sources and notes Slide 85 1. CBA grades in S&P equivalents. 2. Due to rounding, the numbers presented may not sum precisely to the totals provided. 3. Non-performing exposures are exposures in default as defined in regulatory standard APS220 Credit Risk Management. Corporate troublesome exposures a
Slide 133: Sources and notes
Sources and notes Slide 106 1. Includes CET1 capital buffer to regulatory minimum (10.25%), total provisions above central scenario ECL, Investment Security Revaluation (ISR) Reserve and IRRBB Embedded Gains and Losses converted into capital using the Group’s Level 2 CET1 ratio. 2. Central scenario
Slide 134: 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 135: Contact us
Contact us Investor Relations Media Relations Melanie Kirk Danny John Investor Relations Media Relations +61 2 9118 7113 +61 2 9595 3219 CBAInvestorRelations@cba.com.au Media@cba.com.au 135
Commonwealth Bank of Australia — 1H26 Earnings Presentation on 6ix