Real-time thoughts & analysis of the markets, economy & more...
Co-founder & CEO of AllenWargent property market & hedge fund advisory.
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Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.
4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.
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Wednesday, 10 February 2016
CBA $4.8bn profit
The Aussie stock market is getting absolutely clonked again, off by another -66 points or -1.4 per cent in early trade.
One stock which will almost certainly close in the green today is the Commonwealth Bank of Australia (CBA) after notching up a cash NPAT of $4.8 billion for the half year ended 31 December 2015.
Cash ROE was 17.2 per cent (140bpts), while the dividend per share (DPS) was $1.98.
The 90+ day home loan arrears figures were as depicted in the chart below.
While home loan arrears are down, loan impairment expense will be impacted by the property crash experienced in many mining towns, particuarly in Western Australia and Queensland, where there are now reports of a great many foreclosures.
The CBA share price in the first hour of trade moved up solidly, briefly touching an intra-day high of $75.70 (yesterday's close was $72.87) before pulling back.