CBA’s half year result is out today and it reeks of coming mortgage rate hikes:
Unexciting at best:
- falling revenue;
- falling ROE;
- falling NEM;
- rising bad debts 15bps or $577m (vs consensus 13bp) and NPLs 89bp (vs 85bp)
- NPAT boosted by cost cutting;
- dividend stalled and broker write downs ahead.