Australia's CBA tanks in worst session since COVID as federal budget, metric miss fuel worries

Commonwealth Bank of Australia

13/05/2026 04:08

Updates

** Commonwealth Bank of Australia CBA.AX stock falls as much as 10.4% to A$153.65, its lowest point since February 4

** Stock logs largest intraday pct loss since March 23, 2020

** Country's top lender posts Q3 unaudited cash NPAT of A$2.7 billion ($1.95 billion), up from A$2.6 billion last year but around 2% miss from estimates

** UBS says CBA more exposed to investor mortgages, which potentially draws market attention

** Modest NPAT miss on higher bad-and-doubtful debt charges and CET1 miss have been delivered into relative full positioning, Citi says

** Adds that, coupled with the likely negative sentiment towards housing and credit growth out of the federal budget delivered overnight, the result could be negatively received

** CBA flat YTD, including day's moves

($1 = 1.3820 Australian dollars)

(Reporting by Nikita Maria Jino and Shivangi Lahiri in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))