The bank today posted a half-yearly net profit of $5.1 billion, an increase from last year’s figure of $4.8 billion.
Share prices for the company are up 40 per cent, with the bank expected to pay an interim dividend of $2.25 per share.
But despite the glowing figures, Comyn couldn’t promise a rates cut, even if Reserve Bank Governor Michele Bullock announces a cash rate cut next week.
“We’ve thought about what will happen next week, we recognise how important that rate cut is to households around the country,” Comyn said.
But he stopped short of making any promises, saying he can’t confirm anything without breaking price signalling rules.
Like the other big three banks, CBA has a patchy record when it comes to interest rate cuts.
The Reserve Bank cut the official cash rate 10 times between 2015 and 2020, totalling a 2.4 drop.
In the same time, CBA passed on four of those rates cuts, giving borrowers relief of just 1.65 per cent.
If CBA does cut rates on Tuesday, Comyn said borrowers can expect it to hit their accounts in the following 10 days.
