Wednesday, February 12, 2020

Coronavirus spread looms as a risk for Commonwealth Bank as profit falls. I speak with CBA boss Matt Comyn.

The spread of the coronavirus is now is significant economic risk on the radar of the Commonwealth Bank.

The CBA's chief executive Matt Comyn expects the coronavirus impact will contribute to a negative quarter of economic growth for the first three months of this year. Mr Comyn also says climate risk is now factored into the bank's decisions including fossil fuel investments.

The two headwinds of bushfires and coronavirus come as the Commonwealth Bank posted a four percent fall in half year cash profit to $4.47 billion. 

Matt Comyn spoke with ABC's Peter Ryan.

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