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Home > Heather du Plessis-Allan Drive > Murray Olds: Australian correspondent on the Commonwealth Bank of Australia posting record half year profits
Podcast: Heather du Plessis-Allan Drive
Episode:

Murray Olds: Australian correspondent on the Commonwealth Bank of Australia posting record half year profits
Category: News & Politics
Duration: 00:04:31
Publish Date: 2023-02-16 09:20:45
Description:

The Commonwealth Bank of Australia has reported record half-year cash profits.

The CBA's inflated earnings are believed to have been generated by a rise in interest rate hikes, causing their shares to plummet.

Australian correspondent Murray Olds says the Commonwealth Bank of Australia has since acknowledged that inflationary pressure is hitting people hard, and it's poised to get worse.

Murray Olds says that the Australian public feels justifiably slighted following these numbers and the banks have a social contract to maintain at this point in time.

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