Sydney, Feb 6, 2026, 16:54 AEDT — After-hours
- Shares of Commonwealth Bank ended Friday at A$158.91, slipping 0.23%
- The ASX 200 fell 2%, marking its biggest drop in nearly a year
- Investors are turning their attention to the Feb. 11 results and rate adjustments expected in mid-February
Shares of Commonwealth Bank of Australia (CBA.AX) slipped 0.23% to close at A$158.91 on Friday, after trading in a range from A$156.95 to A$160.08. Investors appeared to reduce exposure heading into the weekend. (Google)
The stock broke a five-day winning streak as the S&P/ASX 200 plunged 2%, closing sharply down. “Panic is spreading,” said MooMoo Australia analyst Michael McCarthy to ABC, noting how markets are dropping in sync. (ABC News)
Rate jitters have crept back into Australian bank shares. Tuesday saw the Reserve Bank of Australia hike its cash rate to 3.85%. The country’s big four banks — CBA, Westpac, National Australia Bank, and ANZ — wasted no time, pushing up variable mortgage rates starting mid-February. (Reuters)
CBA revealed its repricing schedule on Friday. The bank’s GoalSaver bonus rate is set to increase by 0.25 percentage points, reaching 4.50% annually. For new customers, the NetBank Saver introductory rate will climb to 4.70%. Both rate changes kick in on Feb. 13, coinciding with a 0.25-point hike in variable home-loan rates. (CommBank)
This is crucial since net interest margin—the difference between what banks earn on loans and what they pay out for funding—can shift quickly when deposit rates rise. Investors are watching to see if higher mortgage rates can compensate for the rising costs banks face in attracting deposits.
The lender has ramped up its focus on technology. In a Thursday AI report, CEO Matt Comyn noted stakeholders want a clearer picture of “how AI is being used across the Bank” and how potential risks are managed. Executive general manager Alex Matthews emphasized that trust remains “fundamental” to CBA’s strategy. (CommBank)
The wider market offered little support. U.S. stocks slipped on Thursday, dragged down by renewed selling in major tech names as investors grew skeptical about the returns from heavy AI investments and grew wary of growth stocks. (Reuters)
Even for a bank often seen as a defensive play, risks remain. Rising rates could hit mortgage repayments, pushing arrears higher. Add in tougher deposit competition, and funding costs might climb faster than expected, putting pressure on margins.
The next major event is Feb. 11, when CBA will release its half-year results and hold a webcast briefing at 10:30 a.m. AEDT. The bank has already flagged a A$68 million pre-tax provision related to the ASIC Better Banking review, along with A$53 million in non-recurring income items that will impact the comparisons. (Afr)
