Commonwealth Bank of Australia records $8.65 billion profit during Covid-19
Australia's biggest bank announces a HUGE $8.65 billion profit and says the 'mortgage holiday' for 250,000 borrowers forced to defer loans during Covid-19 is OVER Commonwealth Bank of Australia held its AGM on Wednesday via videolink CEO Matt Comyn announced a profit of $8.65 billion for the year to June 30 160k mortgage holders and 90k business loan holders have resumed payments Chair Catherine Livingstone said widespread culture changes implemented
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Almost all CBA borrowers who took a loan holiday due to Covid-19 have restarted their repayments, chief executive Matt Comyn says.
At the bank's annual general meeting, held via videolink on Wednesday, Mr Comyn said about 160,000 mortgage holders and about 90,000 business loan holders deferred their loans during the pandemic.
During the most recent outbreak, which began in June, the bank offered a three month repayment holiday for some of its small business customers, and two months for its mortgagors.
