It’s not a bubble, says CBA

Original article by Jonathan Shapiro, James Eyers
The Australian Financial Review – Page: 1 & 10 : 14-Aug-14

The Commonwealth Bank of Australia (CBA) has posted a record cash profit of $A8.68bn for the 2013-14 financial year. The banking major wrote about $A12bn worth of new home loans during the year, and its mortgage book is now worth nearly $A400bn. It has benefited from low interest rates, which in turn has prompted a sharp rise in house prices, but CBA has downplayed concerns about a housing bubble. CBA shares closed 0.9 per cent lower at $A80.96 on 13 August 2014, although the stock has gained 8.6 per cent in the last year

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN BUREAU OF STATISTICS, BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION, ALPHINITY INVESTMENT MANAGEMENT PTY LTD

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