DBRS changes CBA trend to positive

DBRS said it confirmed the ratings of Commonwealth Bank of Australia, including the long-term issuer rating at AA, and revised the trend to positive from stable.

The confirmation reflects CBA’s market leading domestic franchise, particularly in retail banking, as well as the bank’s conservative risk profile, robust capital levels and consistently strong earnings generation ability, DBRS said in a press release.

“The positive trend takes into account CBA maintaining solid revenue generation in 2021 due to above market volume growth in all products, and its robust asset quality profile, despite the challenging operating environment. This was in part due to unprecedented government support, but this also confirmed the bank’s well-entrenched franchise in Australia,” DBRS said in a press release.

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