CBA best zombie in class

CBA’s result is out and, as usual, it is best in class. The problem is, it is a class of zombies:

Solid profit versus others but remediation is worse too and NIM is a problem that will get worse (even if CBA continues its tradition of being least transparent about it):

Credit quality is a mixed bag:

If you must buy a bank it would be this one but why buy a hjigh risk zombie at all.

David Llewellyn-Smith

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