CBA

Financial planning

ASIC appeals CBA/Colonial conflicted remuneration ruling

ASIC has lodged an appeal against the Federal Court’s ruling in favour of Commonwealth Bank and Colonial First State. ...

Policy & Regulation

Colonial and CBA conflicted remuneration case dismissed

Regulatory action against Colonial First State and Commonwealth Bank alleging breaches of conflicted remuneration laws have been dismissed by the Federal Court....

Funds management

Solid half-year performance from major banks

Australia’s four major banks have delivered $14.4 billion in combined headline cash earnings for the 2022 half year, up $700 million or 5.1% from 2021 half year results....

Financial planning

CBA profits up 23% as remediation costs fall

Commonwealth Bank of Australia has announced cash net profit after tax of $4.7 billion, up 23% on the first half of 2021, helped by a significant reduction in remediation...

Financial planning

Industry loses over 300 advisers in a week

The number of advisers slipped by a further 319 in a single week, bringing the overall number to 17,282 and in line with the forecast, according to Wealth Data, but provi...

Funds management

CFS partners with FNZ for platform launch

In its first major move since the separation with Commonwealth Bank, Colonial First State has announced it will partner with FNZ for a platform launch by the end of the y...

Financial planning

Over 2,000 advisers left industry year to date

The first week of December sees heavy losses again in adviser numbers with a net change of advisers of over 120 while the net losses for the year stood at 2,062, accordin...

Financial planning

CBA completes CFS sale to KKR

The Commonwealth Bank has completed its sale of its 55% interest in Colonial First State to private equity firm KKR....

Funds management

Investors need right settings to capture dividend flows

Despite strong dividend payments in Australia this year, not all equity income strategies are delivering, according to DNR Capital....

Financial planning

CBA’s cash NPAT up

CBA has reported cash net profit after tax of approximately $2.2 billion in 1Q22, 20% higher than in the same period last year, but lower than 2H21....

Funds management

CBA crypto offering welcomed

The decision by Commonwealth Bank to offer cryptocurrency is a sign that the asset is moving away from being viewed as an “illegitimate fringe pursuit”, according to Sena...

Funds management

Would a common ownership remedy cause liquidity issues?

Any restrictions on ownership across funds would be concerning to the banking system, according to the Commonwealth Bank of Australia....

Policy & Regulation

CBA required to publish misconduct notices

As part of its penalty for overcharging interest on business overdraft accounts, which it has been forced to pay $7 million, it will also be required to publish misconduc...

Financial planning

CBA advice remediation costs pass $1b

Commonwealth Bank costs related to aligned advice remediation have surpassed $1 billion while it has increased Count remediation for a second time in less than six months...

Financial planning

CBA announces $6b buyback

The buyback compared to one of $2.5 billion by NAB and $1.5 billion by ANZ as the firm announced net profit after tax of $8.8 billion....