CBA still has AUD 2.63bn credit exposure to commodities
Commonwealth Bank of Australia&nbsp;(CBA) has said that it will continue to support coal mines, ports, and transport infrastructure with its AUD 2.63bn ($682bn) credit exposure, despite losing its advisory role in the Carmichael coal project. Public and political pressure has been mounting recently on Australian banks to stop lending to coal mining projects. A spokesperson for CBA played down the overall exposure of the bank to the industry, stating that it was less than 2% of nearly AUD 1tn ($737bn) of total credit exposures.
Commonwealth Bank of Australia still has a $2.625 billion credit exposure to coal mines, ports and transport infrastructure, and is not walking away from the sector despite losing its advisory role in the troubled $16.5 billion Carmichael coal project.

CBA's total coal credit exposure at December 31 comprised $925 million in loans to black coal mines and $1.7 billion in ports and transport infrastructure. The details are in a fact sheet summarising the bank's exposure to resource projects and carbon dioxide emissions.

"CBA's role is to support the Australian economy. As a major financial institution we invest in nearly every sector and believe we need to have a balanced, measured and responsible approach," a spokeswoman said.

All the major banks have exposure to the resources sector. Bloomberg

CBA was one of three banks – the others were ANZ and National Australia Bank – which withstood heavy fire from anti-coal activists in March to back a $1.4 billion loan to Whitehaven Coal to develop the controversial Maules Creek mine in NSW.

Adani Enterprises withdrew CBA's advisory mandate to finance the first stage of the giant project a month ago, well ahead of Wednesday's federal court decision revoking commonwealth government approval for the project.