Zombie CBA shuffles into view

Profits down sharply:

Revenues down. NIM down and deteriorating despite holding back rate cuts. Leading weak:

Costs up:

Provisions up:

Credit quality and capital OK:

That is a shit result. I have no idea if the market will rise or fall on the dash for trash but at 16x forward earnings this zombie bank is crazy overvalued.

Houses and Holes

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the fouding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.

He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.

Did you know the MB International Shares Fund has returned an average of 17.1% per annum and the Tactical Growth Fund an average of 10.4%? Register below to learn more:

Latest posts by Houses and Holes (see all)

Comments are hidden for Membership Subscribers only.