Business Services Industry
CBA to profit from low deposit rates.(Brief Article)
Australasian Business Intelligence, April, 2005 by Oldfield, Stewart
Apr 18, 2005 (The Australian Financial Review - ABIX via COMTEX)
Merrill Lynch research suggests the Commonwealth Bank of Australia (CBA) is mean with its interest rate for depositors. The investment bank estimates that in 2005, the bank will make more than $A500 million in extra profits as a result of the niggardly rate it pays depositors. CBA CEO David Murray says interest rates are only one factor in customers' decisions to keep deposits at the bank. He said many CBA clients do not pay fees. He also stresses the size of the bank's ATM network.
Publication Date: 19 April 2005
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