Quick Read
- CommBank app and NetBank services were unavailable for some users late Wednesday, January 28, 2026.
- The outage followed a day when CBA shares edged up 0.2% to A$150.36.
- Australia’s core inflation exceeded forecasts, boosting RBA rate hike probabilities to 73% for next week.
- Card payments and ATMs remained fully functional during the disruption.
- Commonwealth Bank is scheduled to release its half-year results and interim dividend on February 11.
SYDNEY (Azat TV) – Commonwealth Bank of Australia (CommBank) experienced a significant outage of its mobile app and NetBank online services for some customers late Wednesday, January 28, 2026, following the close of Australian markets. The disruption occurred as Australia’s core inflation figures surpassed forecasts, intensifying market expectations for an interest rate hike by the Reserve Bank of Australia (RBA) next week.
Digital Disruption and Customer Impact
CommBank confirmed late Wednesday that some users were unable to access its CommBank app and NetBank services. The outage garnered significant attention on social media platforms, with numerous customers reporting issues with transactions and money withdrawals. Data from the tracking platform DownDetector showed a spike in complaints, reaching 3,203 at the time of reporting, with issues reportedly starting earlier in the afternoon.
Despite the digital service interruption, the bank assured customers that essential services remained operational. Card payments and ATM functionalities were unaffected, allowing customers to continue making purchases and access cash. This was not the first time Commonwealth Bank has faced such technical issues, as previous outages have also been reported and subsequently resolved.
Market Reaction Amid Inflationary Pressures
The outage coincided with a day of volatile trading for CBA shares, which ultimately closed up 0.2% at A$150.36. This slight gain came despite the broader S&P/ASX 200 index slipping 0.09% to 8,933.9 points, largely influenced by a hotter-than-expected core inflation report that emerged late in the session.
The inflation data pushed markets to significantly ramp up bets on an RBA rate hike at its upcoming February 3 meeting. Traders are now assigning roughly a 73% probability to a 25-basis-point increase, according to Reuters. For CommBank, which often behaves as a defensive stock, rising interest rates present a dual challenge. While higher rates can boost bank income in certain areas, they also put pressure on household finances and can curb credit growth, particularly in the critical mortgage sector. Banks face increasing ‘deposit competition,’ meaning they must pay more for customer deposits to fund loans, tightening margins even as lending rates rise.
Analyst Perspectives and Future Outlook
The specific cause of the CommBank outage was not immediately clear from the bank’s update. Such disruptions can lead to potential compensation payouts, increased technology expenses, and sometimes regulatory scrutiny, adding to operational pressures.
Nathan Zaia, an analyst at Morningstar, currently values CBA at A$100, indicating that the stock is trading well above his fundamental assessment. Zaia highlighted key metrics for investors to monitor in the bank’s upcoming results, including loan growth, net interest margin (NIM), operating costs, and bad debts. He expects the net interest margin—the difference between the bank’s earnings on loans and its costs for deposits—to remain ‘flattish,’ describing the current share price as ‘detached from the fundamentals.’
The market’s focus will now shift to whether RBA rate hike expectations hold and how quickly deposit costs respond. Should the RBA proceed with a rate hike, borrowers already facing financial strain could encounter difficulties, potentially increasing bad-debt risks for banks and weighing on sentiment surrounding their earnings. Traders will be looking for stability in CommBank’s digital services before Thursday’s market open, along with further clarity from the bank regarding the cause of the outage.
Upcoming Financial Disclosures
Commonwealth Bank is scheduled to release its half-year results and announce its interim dividend on February 11. The stock is set to trade ex-dividend starting February 18, with the dividend payment expected on March 30, according to its investor calendar.
The recent CommBank outage, while seemingly resolved, underscores the critical challenge for major financial institutions to maintain robust digital infrastructure in an environment of increasing customer reliance on online services, especially as broader economic shifts like interest rate fluctuations introduce new layers of market uncertainty and operational risk.