Commonwealth Bank of Australia (CBA) Q1 2027 TU earnings summary

Executive summary

• Unaudited statutory and cash NPAT were each ~ $2.8bn in 1Q27; cash NPAT was flat vs the 2H26 quarterly average and up 8% YoY.

• Strong lending and deposit volume growth supported operating income growth; underlying net interest margin was broadly stable excluding liquid-asset movements.

• Customer experience gains supported #1 NPS among major banks across Consumer, Business and Institutional.

Financial highlights

• Operating income was $7,601m, up 3% vs the 2H26 quarterly average; net interest income rose 4%, partly offset by other operating income down 5%.

• Operating expenses were $3,433m, up 3% vs the 2H26 quarterly average, reflecting wage and IT vendor inflation, additional quarter days, and higher cloud and software costs.

• Operating performance was $4,168m, up 2% vs the 2H26 quarterly average and 8% YoY; excluding notable items, it rose 5% YoY.

• Loan impairment expense was $300m, or 11 bps of average GLAA; collective provisions increased $105m during the quarter.

Outlook and guidance

• Australian economic growth is slowing, but the economy remains resilient, supported by low unemployment and public infrastructure and private investment pipelines.

• Strategy remains focused on customer support and sustainable outcomes amid higher rates, inflation and cost-of-living pressures affecting households and businesses unevenly.