Commonwealth Bank posts $5bn half-yearly cash profit after ‘deliberate’ shrinking of home loan book
by Jonathan Barrett from World news | The Guardian on (#6JM0F)
Latest financial results show CBA now targeting savers over mortgage holders, amid concerns over weakening competition among major lenders
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Australia's biggest lender, Commonwealth Bank, is losing market share in its home loan book through a deliberate strategy of not competing for less lucrative mortgage customers.
The bank's tactics feed into concerns there are few signs of healthy price competition between Australia's major lenders operating in one of the most concentrated sectors among comparable economies.
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