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Commonwealth Bank of Australia ( (AU:CBA) ) has shared an announcement.
ASB Bank Limited, a subsidiary of the Commonwealth Bank of Australia, has reached a settlement in a class action lawsuit related to the Credit Contracts and Consumer Finance Act 2003 in New Zealand. The settlement involves a payment of NZ$135,625,000 and is subject to approval by the High Court of New Zealand. This resolution, while not an admission of liability by ASB, could impact the company’s financial standing and stakeholder relations, highlighting its commitment to resolving legal disputes efficiently.
The most recent analyst rating on (AU:CBA) stock is a Sell with a A$125.00 price target. To see the full list of analyst forecasts on Commonwealth Bank of Australia stock, see the AU:CBA Stock Forecast page.
More about Commonwealth Bank of Australia
The Commonwealth Bank of Australia is a major financial institution offering a wide range of banking services, including retail, business, and institutional banking. It operates primarily in Australia and New Zealand, with a focus on providing comprehensive financial solutions to its customers.
Average Trading Volume: 1,849,579
Technical Sentiment Signal: Buy
Current Market Cap: A$284.8B
Learn more about CBA stock on TipRanks’ Stock Analysis page.