Commonwealth Bank hikes loan reserves on accounting switch

- By Alessandro Aimone
- @aimoneale
- 08 Aug 2018

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

The Commonwealth Bank of Australia (CBA) increased loan-loss reserves by A$1.1 billion ($785 million) as fresh accounting rules came into effect.

Cash set aside to cover shaky loans grew 38% to A$3.8 billion as the bank switched to the AASB 9 accounting standard on July 1. The new regime is the Australian equivalent of IFRS 9, which applies to banks that subscribe to international accounting standards, and introduces a new way to size loan provisions that uses future economic forecasts to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact info@risk.net to find out more.

You are currently unable to copy this content. Please contact info@risk.net to find out more.

As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.

If you would like to purchase additional rights please email info@risk.net

You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.

If you would like to purchase additional rights please email info@risk.net