Commonwealth Bank of Australia (CBAUF) Q2 2025 Earnings Call Transcript

2025-02-12 01:48:55 ET

Commonwealth Bank of Australia (CBAUF)

Q2 2025 Earnings Conference Call

February 11, 2025 06:30 PM ET

Company Participants

Melanie Kirk - Head of Investor Relations

Matt Comyn - Chief Executive Officer

Alan Docherty - Chief Financial Officer

Conference Call Participants

Carlos Cacho - Macquarie Group

Jonathan Mott - Barrenjoey

Andrew Triggs - JPMorgan Securities Australia Ltd.

Richard Wiles - Morgan Stanley Australia Ltd.

Matt Wilson - Jarden Australia

Brian Johnson - Jefferies

Brendan Sproules - Citigroup Global Markets Australia Pty Ltd.

Ed Henning - CLSA Limited

Presentation

Melanie Kirk

Hello and welcome to the results briefing for the Commonwealth Bank of Australia for the Half Year ended 31 December 2024. I am Melanie Kirk, and I am Head of Investor Relations.

Thank you for joining us. For this briefing, we will have presentations from our CEO Matt Comyn, with a business update and an overview of the financial results; our CFO Alan Docherty will provide details of the financial results; and then Matt will provide an outlook and summary. The presentations will be followed by the opportunity for analysts and investors to ask questions.

I will now hand over to Matt. Thank you, Matt.

Matt Comyn

Well, thanks very much, Mel, and good morning to everyone. It is great to be with you today to present the Bank’s half year results.

During the half, we continued to focus on supporting our customers, investing to protect the community, and providing strength and stability for the broader economy. Every day we lend to more than 200 businesses, help almost 400 households buy a home, process more than 20 million payments, and send customers 18,000 alerts about suspicious account activity.

We know that many Australians are continuing to deal with cost of living pressures. This half we maintained our focus on supporting our customers with a range of options, which have included improved access to hardship assistance, more than 65,000 tailored payment arrangements for those most in need of support, and to help more than 3 million customers each month to better manage their finances through our digital money management tools. We kept our promise to keep all of our regional CBA branches open to support communities and jobs in regional Australia.

Keeping our customers’ accounts safe and secure is our top priority. We invested $450 million in the half to combat fraud, scams, financial and cyber crime to better protect our customers. Our continued investment has reduced customer fraud and scam losses by more than 70% over the past two years. Our NameCheck technology has been used 80 million times and prevented more than $650 million in mistaken and scam payments.

All Australians benefit from strong and stable banks. This half we lent $21 billion to businesses to help them grow, helped more than 70,000 households buy a home, and paid $11 billion in interest to Australian savers. We maintained a strong balance sheet, and we remain well positioned to support our customers and the broader economy.

The Commonwealth Bank’s future is tied to Australia’s future. It is in our shared interest to see living standards improve, businesses grow, and for the country to prosper. We have the privilege of serving 16 million Australian customers and to provide employment to over 35,000 Australians....

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