There were some pockets of weakness or potential weakness in the economy, according to the bank’s chief executive Matt Comyn.
Housing construction, aged care and consumer spending are three key areas that Commonwealth Bank is watching closely as part of efforts to maintain the lending behemoth’s financial strength.
Australia’s major banks held $120 billion more capital than their international counterparts, of which $85 billion was tier one capital and $35 billion was tier two capital.Australian banks held the lowest proportion of short-term wholesale funding, held four times as many “high quality”, liquid assets as they did before the financial crisis, and marked to market their securities on a regular basis, Mr Comyn said.
“We’re seeing some quite big differences. Spending patterns continued to be very strong in areas like hospitality [and] some aspects of retail. [In] some others, less so,” he said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Hang out and be a dad’: Lib leadership in doubt as Matt Kean says noThe Liberal leadership is wide open after NSW’s former treasurer Matt Kean ruled out running, while speculation is rising about defeat Premier’s Dom Perrottet’s future.
Read more »
Dominic Perrottet, Matt Kean and the lure of Canberra: what next for NSW power duo?While Kean has ambitions to move into federal politics, the outgoing premier’s friends say the more likely direction for him is business
Read more »
‘Weak’ for Matt Kean to not ‘step up’ for NSW Liberal leadershipOutgoing NSW Treasurer Matt Kean’s ambition and political energy are “missing in action” as he rules himself out of the state’s Liberal leadership contest, says Sky News host Chris Kenny. “How weak is it for him not to step up?”, Mr Kenny said. “Does he think he'd be too toxic for the party, for the electorate? Or does he really just want the easy life? “If he really believes in his moderate agenda, his leftist agenda, now is the time to take up the fight.'
Read more »
Matt Kean planning tilt at federal politicsLiberal sources have told Sky News Australia host Sharri Markson that part of the reason Matt Kean is not seeking leadership in New South Wales is because he wants to explore federal options.
Read more »