Overview
- Commonwealth Bank told investors it made $2.8 billion in net profit for the quarter to September 30, up 8% from a year earlier according to its trading update.
- The bank reported 90‑plus day home‑loan arrears rose by seven basis points to 0.80%, a small but notable increase that it links to higher interest rates and cost‑of‑living pressure.
- CBA said provisions for bad loans remained at $6.5 billion, it booked a $300 million loan impairment during the quarter, and collective provisions rose by $105 million to strengthen its loss buffer.
- Home‑loan application volumes fell about 16% in the quarter, which the bank and reporters connected to buyer caution after federal housing tax changes in the May budget.
- Because CBA holds roughly a quarter of Australia’s mortgage market and reported higher arrears and weaker demand, analysts will watch future provisioning, arrears trends, and credit losses for signs of broader household strain.