Can’t. CBA’s dour result

Via banking legend Ian Rogers:

CBA’s full year result for June 2019 on Wednesday will be doing well to carry much good news. Post-royal commission it’s running at 0.5 times system on retail deposits, and margins are preserved for now only by the bond rally.

Mortgage growth is a bit better than system, with Commonwealth Bank ahead of all peers, but the housing turnaround is febrile. Big banks are losing market share to smaller brands in spades and on the wholesale side global banks are taking market share willy nilly.

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