SYDNEY, Feb 25, 2026, 17:13 AEDT — Market closed.
- CBA shares closed up 0.1% at A$178.68; Westpac and ANZ also rose.
- CommBank rolled out a A$90 million AI-focused workforce program; union said 300 jobs would go.
- Australia’s January inflation held at 3.8%, keeping rate-hike bets in play.
Commonwealth Bank of Australia (CBA.AX) shares closed up 0.1% at A$178.68 on Wednesday, with investors sticking with bank stocks even as a union flagged 300 job cuts at the lender. Westpac Banking Corp (WBC.AX) gained 0.7% and ANZ Group Holdings (ANZ.AX) rose 0.48%. (Google)
The jobs issue matters because CBA has become a pricey bellwether for the market and for Australian lenders more broadly. Any hint that cost savings from automation are coming sooner — or that they won’t — can move the stock.
Rate expectations did some of the heavy lifting too. Data showed consumer prices rose 0.4% in January and inflation held at 3.8% year on year; the trimmed mean, a core gauge that strips out big price swings, ticked up to 3.4%. Markets priced an 80% chance of a May rate rise after the Reserve Bank of Australia lifted its cash rate to 3.85% earlier this month — a 25 basis point move, or 0.25 percentage points — and Deloitte’s Stephen Smith said the trimmed mean was “still too high for its liking”. (Reuters)
The S&P/ASX 200 ended at a record 9,128.30, up 1.17%, after touching an intraday high of 9,130.30. (Investing)
CBA said on Tuesday it will roll out a A$90 million, three-year “Future Workforce Program”, including a Grow Your Career portal that maps roles and flags training needs, with AI training already delivered to more than 30,000 staff. Chief executive Matt Comyn said the goal was “transparency and opportunity” as AI changes the way work gets done. (CommBank)
The Finance Sector Union said 300 roles were set to go across teams including retail, business and institutional banking and human resources, with most impacted jobs in technology. National secretary Julia Angrisano said the cuts were “totally unacceptable” coming after $5 billion in half-year profit, and the bank declined to comment on the cuts, 9News reported. (9News)
For investors, the pitch is familiar: spend on systems now, shrink the back office later. CBA’s problem is timing, and proving that staff can actually shift into new roles instead of leaving.
Banks also tend to track the bond market because higher rates can lift interest income, at least at first. The flip side is borrowers under strain, and bad debts can rise.
Shareholders also have the bank’s interim dividend on their radar. CBA’s A$2.35 interim dividend went ex-dividend on Feb. 18 and is due to be paid on March 30, according to Market Index data. (Market Index)
But AI projects can run over budget, and workforce plans can turn political fast when jobs go. If inflation stays sticky and the RBA tightens again, the sector faces a tougher test on loan growth and credit quality.
Next up is central bank talk: Governor Michele Bullock is scheduled to speak at a Melbourne University event at 7.40 pm AEDT on Wednesday, while a speech at the AFR Business Summit follows on March 3. The next policy decision is due after the March 16–17 meeting, with the decision statement set for March 17 at 2.30 pm AEDT. (Gov)
