Arabic version: طلبات قروض الإسكان لدى «كومنولث بنك» تنخفض 15 في المئة
According to ABC News, Commonwealth Bank home loan applications have fallen 15 per cent since May, while the lender’s net profit rose 7 per cent to $10.87 billion over the financial year.
Australia’s largest home lender said application volumes had softened after the federal budget’s property tax changes and three interest rate rises in February, March and May. Chief executive Matt Comyn said housing activity had eased from a high base, though applications appeared to have stabilised in recent weeks. The bank reported a 17 per cent decline in loan application volumes from a year earlier.
Investor applications dropped 28 per cent after the May 12 budget, while owner-occupier applications fell 9 per cent. The budget limited negative gearing for real estate investors to newly built properties, while existing-property investors who owned assets before the budget retained the ability to deduct net rental losses against wages and other personal income.
CBA forecasts mortgage credit growth will settle in a relatively narrow 4 to 5 per cent range over the year, with volatility possible. It expects interest rates to remain at 4.35 per cent for the rest of 2026 before “a couple of cuts” in 2027. Shareholders will receive a fully franked final dividend of $2.70 per share, bringing the annual payout to $5.05.
The bank’s net interest margin fell 0.03 percentage points to 2.05 per cent, while operating expenses rose 6 per cent to $13.76 billion. Mr Comyn said economic growth was slowing as higher interest rates and inflation placed uneven pressure on household incomes and activity.
