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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Commonwealth Bank of Australia    CBA   AU000000CBA7

COMMONWEALTH BANK OF AUSTRALIA

(CBA)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 01/25
85.27 AUD   +0.21%
01/24Australian shares edge higher as miners, banks lead gains
RE
01/14U.S. soybeans, corn, wheat rally; below recent peaks
RE
01/14U.S. soy rallies on signs of strong demand; corn, wheat rise
RE
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Commonwealth Bank of Australia : Australian Regulator Takes CBA to Court for Overcharging Interest

11/30/2020 | 09:35pm EST

By Alice Uribe

SYDNEY--Commonwealth Bank of Australia says it does not plan to defend proceedings brought against it by Australia's corporate regulator for charging a rate of interest on business overdraft accounts substantially higher than what its customers were advised.

The Australian Securities and Investments Commission on Tuesday said it had commenced civil penalty proceedings in the Federal Court against Australia's largest bank.

The matter is in relation to some customers being overcharged interest exceeding 2.9 million Australian dollars (US$2.1 million) between December 2011 and March 2018.

CBA said Tuesday that it had cooperated fully with ASIC and does not intend to defend the proceedings. The bank added that 2,269 customers had been sent refunds totalling A$3.74 million.

ASIC said it is seeking declarations, pecuniary penalties and other orders against CBA for alleged contraventions of certain misleading and deceptive conduct provisions of the ASIC Act and breaches of the general obligations owed by financial services licensees under the Corporations Act.

The date for the first hearing is yet to be scheduled by the court.

ASIC investigated this matter following its consideration as a case study at the Financial Services Royal Commission, said CBA.

Write to Alice Uribe at alice.uribe@wsj.com

(END) Dow Jones Newswires

11-30-20 2134ET

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More news
Financials
Sales 2021 23 392 M 18 113 M 18 113 M
Net income 2021 8 784 M 6 802 M 6 802 M
Net Debt 2021 - - -
P/E ratio 2021 18,6x
Yield 2021 3,39%
Capitalization 151 B 117 B 117 B
Capi. / Sales 2021 6,46x
Capi. / Sales 2022 6,39x
Nbr of Employees 41 778
Free-Float 99,6%
Chart COMMONWEALTH BANK OF AUSTRALIA
Duration : Period :
Commonwealth Bank of Australia Technical Analysis Chart | CBA | AU000000CBA7 | MarketScreener
Technical analysis trends COMMONWEALTH BANK OF AUSTRALIA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 14
Average target price 77,36 AUD
Last Close Price 85,27 AUD
Spread / Highest target 5,55%
Spread / Average Target -9,28%
Spread / Lowest Target -24,9%
EPS Revisions
Managers and Directors
NameTitle
Matthew Comyn Chief Executive Officer, Executive Director & MD
Catherine Brighid Livingstone Chairman
Alan Frank Docherty Chief Financial Officer
Pascal Boillat Chief Information Officer
Shirish Moreshwar Apte Independent Non-Executive Director