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CBA makes a $4.7 Billion profit for the first 6 months of the FY, but want's you to pay a fee (not them) for the privilege of giving them your business.

The Commonwealth Bank of Australia (CBA) has reported a cash net profit after tax (NPAT) of $4.7 billion for the first half of the 2019 financial year (1H19), an increase of 1.7 per cent from 1H18.

However, much of the bank's home loan growth was generated through the broker channel, which originated 45 per cent of CBA's home loan flows, up 5 per cent from the previous corresponding period.

This is essentially an acquisition cost for a bank to get your business so why should you the consumer pay this charge?

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Saturday, 14 December 2019