Commonwealth Bank of Australia (CBA) Q1 2026 TU earnings summary

Executive summary

• Unaudited statutory NPAT for the quarter was approximately $2.5 billion; unaudited cash NPAT was about $2.6 billion, up 1% on the 2H25 quarterly average and 2% year-over-year.

• Operating income rose 3% due to lending and deposit volume growth, higher non-interest income, and 1.5 additional days in the quarter.

• Operating expenses increased 4% (excluding restructuring and notable items) mainly from wage and IT vendor inflation, partially offset by productivity initiatives.

• Loan impairment expense was $220 million, with credit quality remaining sound and lower consumer arrears.

• $4.4 billion in dividends paid and over $640 million in shares purchased for the Dividend Reinvestment Plan.

Financial highlights

• Cash NPAT of ~$2.6 billion, up 1% sequentially and 2% year-over-year.

• Operating income up 3%; net interest income up 3% with deposit and lending volume growth.

• Headline net interest margin reduced due to growth in lower-yielding liquid assets and institutional repos.

• Operating expenses (excl. notable items) up 4% due to wage and IT vendor inflation.

• Loan impairment expense at $220 million, or 9bps of average GLAA.

Outlook and guidance

• Optimism on the outlook for the country despite ongoing cost-of-living pressures and global uncertainty.

• Closely monitoring increased competitive intensity and implications across the financial system.

• Economic growth is recovering, and disposable income is rising for many households.