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Major claims tough times on way to $7bn profit

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Australian Broker | 17 May 2012, 07:00 AM Agree 0
A major bank has beaten profit expectations on its way to a $7bn year, but has still claimed challenging conditions
  • JERRY gIBB | 17 May 2012, 10:26 AM Agree 0
    How sad for an organisation to make such a big profit and still be able to slug the community by not passing on the full rate reductions. Who are the muggs here and what does our Government do to protect the consumer . Nothing!!!!
  • sidbroker | 17 May 2012, 10:33 AM Agree 0
    Well said Jerry,and what about ACCC and ASIC arn`t they supposed to lend a hand in underhanded behavior from business or are they only capabale of terrorising small business!!
  • Country Broker | 17 May 2012, 10:59 AM Agree 0
    I believe that a bank has the right to make profits that give a satisfactory return on share holders capital that is waht public companies do! In regards to the CBA arguments about why they will not pay trailers in year 1 to brokers on home loans due to cost restraints , those arguments were applicable for a short time during the GFC, and obviously do not apply now!! it is time for all brokers and aggregators to say ENOUGH , we simply do not want to deal with you unless you stop the smoke and mirrors excuses and show us you are committed to the third party chanel by agreeing to pay trailers from day 1 .
  • Kate | 17 May 2012, 11:46 AM Agree 0
    I agree - they should make profits - but not like that - and not at the expense of the struggling public. This is a problem that is way out of hand - and although it would be great if brokers stopped using them, we all know this is not possible. ASIC, or the government or UCCC need to step in - and why don't they?? This nation is becoming unaffordable and banks are becoming more of their own law.
  • Broker | 17 May 2012, 12:28 PM Agree 0
    Cost of funds increase = profit increase, great business model that!!, all achieved in a declining economy, no wonder so may aussies are struggling
  • Positive Broker | 17 May 2012, 12:28 PM Agree 0
    Boo Hoo. What about the money they are gouging from brokers and the massive margins they make on credit cards and fees etc. By the way it is possible not to use them. I simply dont offer them to clients and if clients ask about them I have enough horror stories to convince them there is a better option.
  • Gemini | 17 May 2012, 02:02 PM Agree 0
    CBA pee off customers, marketing is rank, and then they bite the hand (brokers) that feeds them. As a bank, they sure know how to keep their shareholders satisfied.
  • ozboy | 18 May 2012, 10:07 AM Agree 0
    Always lot's of negative comments about the CBA but no one does anything about it. We took them off our panel when they brought in volume requirements (don't they get how we work?) have not missed them at all but still get the calls (one 2 days ago) from clients we put with them years ago complaining about the service so we just move them onto another lender. So instead of posting comments here take some action, stop giving them loans this is the only way to get them to hear you the aggregators and MFAA are too invested in CBA to do anything that you want.
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