CBA maintains Asian ambitions
Big bank chief executives are on the lookout for expansion opportunities being thrown up by the global banking crisis, despite their cautious approach to doing business on the home front.The Australian reports that Commonwealth Bank CEO Ralph Norris told a business lunch yesterday that he saw opportunity for growth in Asia, particularly Indonesia.Norris would not be drawn on whether the bank would cut its dividend. ANZ and National Australia Bank have already foreshadowed lower dividend payments.The paper reported Norris saying: "We have already made the announcement that as far as the Commonwealth Bank is concerned any previous dividend history should not be regarded as a predictor of the future and that we would not guarantee to maintain the dividend."The Australian also reports that Commonwealth Bank will provide deferrals on interest payments for up to 12 months in hardship cases.CBA chief executive Ralph Norris was reported saying: "In the case of those unfortunate to be unemployed, we will provide repayment holidays for six months and in some circumstances up to 12 months, with interest being capitalised."