But his warning seems to have been partially ignored by investors, who have given the CBA a higher premium than their older peers. And so, for the market, the revenues came below expectations.
In this regard, the stock market is expected to fall sharply.
Increasing competition is part of the problem, but large customers are shifting from variable interest rates to very low fixed rates.
In the meantime, the costs were a mixed bag. The overall 1% decline was driven by lower adjustment costs – enough to offset a 3% increase on other costs, but the result was lower than analysts’ expectations.
The bottom line is that mortgage books and, to a lesser extent, Business Bank are the mainstay of the CBA.
Investing in young customers is a long-term idea that will bear fruit. They are tails, but they do not pierce the dog.
That said, the CBA’s transition to the buy-now-pay-after sector and the recent launch of the Cedar application are the initiatives that will lead to the invasion of key areas of the Bank’s Fintech sector.
The move to test an app that allows customers to exchange multiple secret currencies is a bit out of script, but it still holds the theme of attracting Millennium customers.
This unique collection of products is similar to what it boasts at Jack Dorsey Square – especially once Receiving postpaid He passed through a controlled door.
Afterpay, on the other hand, has the same desire to enter the traditional market-controlled market. it has It has already merged with Westpack. White Label is looking forward to the transfer of banking and savings products, and the mortgage prize – albeit later.
While there is a lot of frustration between the CBA and some of the Fintech rivals, there is no significant overlap in either direction – yet. But there is a clear and current threat to traditional banks, and Komin is creating his own insurance on it.
At this point, the main task of the postpaid department is to raise customers by managing costs. On the contrary, the CBA should manage the risk around the loan.
CBA has the technology infrastructure to add services to the platform business and test the water with products.
CBA Australia’s rivals were not flat feet, and they understood the customer’s shift and the new landscape. But their response was not immediate or noisy.
That is, the CBA has a clear beginning.
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