Australia's CBA extends losses on tax changes, provisions

Commonwealth Bank of Australia

14/05/2026 01:21

** Shares of Commonwealth Bank of Australia CBA.AX fall as much as 1.7% to A$151, hitting their lowest level since February 4

** CBA extends losses from Wednesday when it fell over 10% in its largest ever one-day percentage drop after quarterly results

** Bank set aside set aside more cash to prepare for risks linked to the Middle East conflict

** CBA's quarterly cash net profit of A$2.7 billion came in 2% below some analysts' forecasts

** Australian bank shares were sharply sold off on Wednesday as investors questioned whether mortgage credit growth could slow after major tax changes were announced on Tuesday

** Stock down over 4% this year, including the day's move

 (Reporting by Rajasik Mukherjee in Bengaluru)

 ((Rajasik.Mukherjee@thomsonreuters.com))