Simple bank loans are becoming like luxury goods as regulators step in. The $1 trillion private capital giant Apollo thinks you can be part of the solution.
Despite his best efforts and a big profit, the largest investment bank brokers are sceptical that Commonwealth Bank deserves its $194 billion valuation.
The job cuts, which equate to about 5 per cent of local commercial banking staff, come as the bank looks to shift smaller customers to digital channels.
Investors have powered Commonwealth Bank’s share price to consecutive record highs even as analysts warn it is the most overvalued lender in Australia.