ASX #1 CBA

 Commonwealth Bank of Australia

• Market Cap of AUD 291 bn (Australia GDP is USD 1.7 trillion or AUD ~2.75 trillion) - one tenth of GDP.
• 18 million + customers (Australia population is 27.2 million)
• 55k employees
• P&L Snapshot - $28.5 billion operating income (June YE FY25) - includes $4.4 billion other operating income
• Matt Comyn Chief Executive Officer
• Cost-to-income ratio 45.7% FY24  45.0%
• Net interest margin 2.08% FY24 1.99%
• Loan portfolio of $ 1 trillion. (Home Loans ~700 billion)
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In the 2024 Integrated System Plan (ISP), AEMO’s step change scenario projects that up to 90% of the National Energy Market’s coal-fired power stations will retire by 2035 with the remaining 10% retiring by 2040. Renewable energy connected with transmission and distribution, firmed with storage and backed up by gas-powered generation, is the lowest-cost way to supply electricity to homes and businesses as Australia transitions to a net zero economy.2 
Steel is essential for many other sectors, such as construction and machinery, and is expected to continue playing an important role in Australia’s energy transition, including the construction of wind turbines and solar farms. Cement is required for housing, buildings and infrastructure. Alumina is an intermediate product in the production of aluminium, which is used in technologies that are also critical for reducing emissions. Heavy industry is considered harder-to-abate due to its reliance on grid decarbonisation, process efficiencies and low-emissions technologies that, in many instances, are not yet commercially viable at scale in Australia.