Daily Roundup

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Commonwealth Bank of Australia Reports Q3 2026 Trading Update

Commonwealth Bank of Australia has reported its Q3 2026 trading update, highlighting strong balance sheet settings, unaudited cash NPAT of ~$2.7 billion, and disciplined volume growth across key business segments despite challenging macroeconomic conditions.

The bank's unaudited statutory NPAT was ~$2.6 billion, while unaudited cash NPAT was ~$2.7 billion, down 1% on the 1H26 quarterly average but up 4% on the prior comparative quarter. Operating income was flat in the quarter, with higher net interest income offset by lower other operating income. The bank delivered disciplined volume growth across home lending, household deposits and business banking, with home loan new funding remaining strong at $45 billion in the quarter.

Operating expenses excluding restructuring and notable items increased 1%, primarily driven by higher cloud computing volumes, software licensing and investment in AI capabilities. Loan impairment expense was $316 million, with higher collective provisions reflecting heightened geopolitical and macroeconomic uncertainty. The bank's CET1 (Level 2) ratio was 11.6% as at 31 March 2026, well above APRA's minimum regulatory requirement of 10.25%.

The Australian economy continues to demonstrate resilience, but supply chain disruptions, higher prices and interest rates are expected to weigh on household spending and business activity. The bank will continue to adjust its settings as appropriate and remain focused on executing its strategy to build a brighter future for all.

Develop to Complete Bellevue Gold Mining Contract

Develop Global Limited (ASX:DVP) will complete its underground mining contract at Bellevue Gold's mine in WA on 31 July 2026. The demobilisation will release ~A$50 million in capital, and Develop will retain the skilled mining team from Bellevue to support its other current and tendered contracts.

Develop Awarded A$274m Contract with Core Lithium

Develop Global Limited (ASX:DVP) has been awarded a A$274 million contract to undertake all underground development and production activities at Core Lithium's (ASX: CXO) Finniss Lithium Project in the Northern Territory. The contract, which has a minimum three-year term with a two-year extension option, is expected to generate steady-state annual revenue of A$120 million.

Core Awards BP33 Underground Mining Contract at Finniss

Core Lithium Ltd (ASX:CXO) has awarded a three-year contract to Develop Global Limited (ASX: DVP) for underground mining services at the Company's BP33 deposit. The contract includes an option for a two-year extension and will support the long-life, low-cost production from the BP33 deposit.

Healius Announces FY26 Trading Update and Strategic Review of Assets

Healius Limited (ASX: HLS) has announced a trading update for the financial year 2026 (FY 2026). The company now expects Group Underlying EBITDA to be between $259.0m and $264.0m, and Group Underlying EBIT to be between $30.0m and $35.0m. Healius also announces that it has engaged UBS Securities Australia Limited to assist in exploring a sale of its Agilex Biolabs business.

CBA Releases March 2026 Basel III Pillar 3 Disclosures

Commonwealth Bank of Australia (CBA) has released its March 2026 Basel III Pillar 3 disclosures, reporting on the Group's capital adequacy, risk-weighted assets (RWA), leverage and liquidity ratios. The Group's capital position remains strong, with CET1 ratio of 11.6%, though RWA increased due to higher IRRBB and credit risk.

ReadCloud CEO Transition Announced

ReadCloud Limited (ASX: RCL) has announced that Chief Executive Officer Andrew Skelton will conclude his role on 31 May 2026 after 3 years of transforming the company. CFO Luke Murphy has been appointed Interim CEO effective 1 June 2026, with Skelton providing consulting services for 3 months to ensure an orderly handover.