Original article by Cliona O’Dowd
The Australian – Page: 21 & 24 : 5-Jul-19

The Commonwealth Bank’s decision to delay a 19 basis point reduction in its variable home loan interest rates until 23 July will boost its interest income by $43m. The other three major banks will also gain additional interest income from mortgage customers by delaying rate cuts by periods ranging from nine days to two weeks. It is estimated that the big four banks’ move to delay passing on the official interest rate cut in full or in part will boost their interest income by a combined $97m.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, SHAW AND PARTNERS LIMITED, MOZO PTY LTD, HSBC AUSTRALIA HOLDINGS PTY LTD, FIRSTMAC LIMITED, ME BANK