CBA shares touch $60

SHARES Commonwealth bank briefly surpassed $ 60 yesterday, after it said it was on track to meet or exceed the targets set in the year. Australia's largest retail bank said it had improved held by the traffic in the three months to September with its lending increasingly assets of just over 3% and deposits by 7 %. Executive Director Ralph Norris said earnings momentum had been maintained, despite the increased volatility in the market. "With continued strong credit growth and good credit quality, I have confidence in the ability of the new group to release growth in earnings per share for the full year, which equals or exceeds the average our peers, "he said. Shares peaked at $ 60.40 before falling to close 41c to $ 59.38. The shares issued at $ 5.40 in the bank the first bid in 1991, has increased by 7% since the beginning of the year. The bank said its broad base of retail deposits - 55% of total debt financing of the group, he helped to maintain an edge over its competito! rs in the world of credit. The bank said it had only "slightly" increased its short-term financing in the September quarter, focusing instead on financing opportunistic in long-term debt markets, where it has raised 2 $ 5 billion during the quarter. $ 2.5 billion was raised at a cost to the bank "attractive given the current market conditions," he said. The bank also reported that it held a higher proportion of cash on its balance sheet as "dolt liquidity," causing a "slightly negative" impact on its interest margin net, considered the best measure of the profitability of a bank. The bank said that it had lifted its market share in its major product lines of home loans, personal loans, credit cards and deposits in the three months to August. Home loans rose 0.04% to 18.36% of the market, while a 0.10% increase in deposits of the bank boosted the market share of 28.84%. The bank said credit quality in its retail loan products also remained healthy "in arrears either constant! or lower rates trends" file in September. The market share in! her arm s underperforming banking concern improved slightly, from June to August, but the bank did not give figures for the month of September. News.com.au cards and gifts
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