Commonwealth Bank has delivered a record full-year profit of $10.98 billion, but Australia’s biggest bank is also seeing clear signs of a slowing economy. Mortgage applications have fallen, household pressures are building and CBA expects housing credit growth to weaken.

Sean Aylmer speaks with Commonwealth Bank CEO Matt Comyn about what the bank is seeing inside the Australian economy, the impact of changes to housing taxes, why slower home lending could cost CBA around $100 million in revenue, the outlook for interest rates and housing, and where the bank is investing in AI.

Commonwealth Bank has delivered a record full-year profit of $10.98 billion, but Australia&rsquo;s biggest bank is also seeing clear signs of a slowing economy. Mortgage applications have fallen, household pressures are building and CBA expects housing credit growth to weaken. Sean Aylmer speaks with Commonwealth Bank CEO Matt Comyn about what the bank is seeing inside the Australian economy, the impact of changes to housing taxes, why slower home lending could cost CBA around $100 million in revenue, the outlook for interest rates and housing, and where the bank is investing in AI.

Business news you can use. A daily business news podcast with journalists Sean Aylmer and Michael Thompson. Find out more at https://fearandgreed.com.au

Business news you can use. A daily business news podcast with journalists <a href="https://www.linkedin.com/in/sean-aylmer-9922068/" data-saferedirecturl="https://www.google.com/url?q=https://www.linkedin.com/in/sean-aylmer-9922068/&amp;source=gmail&amp;ust=1689199223540000&amp;usg=AOvVaw0wu3ezGEfBZFYspJbTTaYL">Sean Aylmer</a>&nbsp;and&nbsp;<a href="https://www.linkedin.com/in/mcwthompson/" data-saferedirecturl="https://www.google.com/url?q=https://www.linkedin.com/in/mcwthompson/&amp;source=gmail&amp;ust=1689199223540000&amp;usg=AOvVaw08pZ8jZ88rHJgCfbHkTr5k">Michael Thompson</a>.&nbsp;Find out more at&nbsp;<a href="https://protect-au.mimecast.com/s/7AmQCOMxmAtl5q0qiE-KY7?domain=fearandgreed.com.au/" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/7AmQCOMxmAtl5q0qiE-KY7?domain%3Dfearandgreed.com.au/&amp;source=gmail&amp;ust=1689199223540000&amp;usg=AOvVaw1DLq_FuqjEt3HC-ZK1704H">https://fearandgreed.com.au</a>

Fear and Greed is Australia's most popular business podcast.

FEAR & GREED | Business News

Daily business news for people who make their own decisions, with business journalist Sean Aylmer and Michael Thompson. Find out more at https://fearandgreed.com.au

Daily business news for people who make their own decisions, with business journalist <a href="https://www.linkedin.com/in/sean-aylmer-9922068/">Sean Aylmer</a> and <a href="https://www.linkedin.com/in/mcwthompson/">Michael Thompson</a>. Find out more at <a href="https://protect-au.mimecast.com/s/7AmQCOMxmAtl5q0qiE-KY7?domain=fearandgreed.com.au/">https://fearandgreed.com.au</a>

Q+A: Why CBA thinks this will be a difficult year for households

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/8dac46bb-8107-41ac-bc26-b4a400d07fcb/transcript