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The latest announcement is out from Commonwealth Bank of Australia ( (AU:CBA) ).
Commonwealth Bank of Australia has announced the sale of its remaining 5.45% shareholding in Bank of Hangzhou to New China Life Insurance Co., Ltd, expecting to receive approximately $940 million. This transaction is set to enhance CBA’s capital position with an uplift in the CET1 ratio by 18 basis points upon completion, pending necessary regulatory approvals, and is anticipated to conclude by mid-2025.
More about Commonwealth Bank of Australia
Commonwealth Bank of Australia (CBA) operates within the banking and financial services industry, offering a wide range of products such as retail, wealth management, and commercial banking services. The company focuses on markets primarily in Australia and has had historical investments in international markets like China.
YTD Price Performance: 1.92%
Average Trading Volume: 1,785,205
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$261.1B
See more insights into CBA stock on TipRanks’ Stock Analysis page.
