CBA performing well but shares fall
In its first quarter update to investors the Commonwealth Bank has reported a 7 per cent increase in deposits and a 3 per cent rise in lending. A Deutsche Bank analyst, Ross Brown, said that while the market gains had been evident for most of the past year, the retail bank's revenue only increased by 4 per cent in the second half. The implication being that “the financial benefits of improved market share are yet to materialise” according to Mr Brown. CBA shares touched a record high of $60.45 yesterday but fell to close at $59.38 as investors found few positive surprises that would support recent increases in the bank's share price.