Commonwealth Bank’s lofty share price takes a back seat after solid profit result
Investors looking for a reason to finally take some profits in Commonwealth Bank have been left in a bind this week after the world’s most expensive bank produced another set of results that extended its lead over rivals.
Despite trading at a massive 27 times earnings multiple – almost double that of global banking giant JPMorgan – CBA shares are back at a record high after a quarterly update showed a 9.1 per cent surge in business loans to $3.7 billion, 1.3 times the average of the other major local banks.
Loading…
