Commonwealth Bank Keeps Freeze on Some Salaries, Memo Shows

Commonwealth Bank Keeps Freeze on Some Salaries, Memo Shows

Sergio Dionisio/Bloomberg

Profitability at Australia’s biggest banks, called the four pillars after legislation that bans them from buying one another, is threatened by rising wholesale funding and deposit costs and as the jobless rate in Australia climbed to 5.2 percent in June, the highest since March.