Original article by Richard Gluyas
The Australian – Page: 16 : 7-Jun-21
Richard Wiles of Morgan Stanley estimates that the combined surplus capital of Australia’s four major banks is within the range of $19.5bn to $28bn. He says the banks could potentially return about $15bn to investors via share buybacks over the next year, with the Commonwealth Bank tipped to repurchase $5bn worth of shares when its 2021 financial results are announced. Buybacks of this magnitude would reduce the number of bank shares on issue by 3-5 per cent.
MORGAN STANLEY AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA