# David Bassanese

Type: Person

Source: Finance Intelligence Brief — https://getfinancebrief.com/entity/david-bassanese
Canonical HTML page: https://getfinancebrief.com/entity/david-bassanese

## Timeline

- **2026-08-12**: CBA reports annual profit and warns on economy — Commonwealth Bank posts $11B cash profit and warns that higher rates and inflation are slowing economic growth and pressuring households.
- **2026-08-11**: RBA holds rates but adopts hawkish tone — The Reserve Bank leaves rates unchanged for a second straight meeting, but economists warn of a bias toward future tightening.
- **2026-08-10**: Westpac reveals 20% drop in mortgage applications — Westpac announces its mortgage applications fell by one-fifth since the May budget, signaling broad sector weakness.
- **2026-07-31**: NAB reports mortgage application decline — NAB discloses a 15% fall in home loan applications for the June quarter, attributing it to policy changes and rate pressures.
- **2026-05**: Federal budget introduces negative gearing and CGT changes — Labor government announces changes to property tax concessions, triggering house price declines and a drop in mortgage demand.

## Recent coverage (1 stories)

### CBA Posts $11B Cash Profit, Warns Economy Slowing as Mortgage Demand Drops
2026-08-12 01:31:09 · Sentiment: Neutral · Impact: 5/10 · Sources: 2

Commonwealth Bank of Australia reported a cash net profit of $11 billion, beating expectations, but CEO Matt Comyn cautioned that higher rates and tax changes are crimping household budgets and housing activity. The outlook is clouded by a 15-20% drop in mortgage applications across the banking sector and a hawkish RBA stance.
Full story: https://getfinancebrief.com/story/cba-11b-cash-profit-economy-warning-mortgage-drop

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