CBA (ASX: CBA) share price increases as bank rolls out vax centers

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The Commonwealth of Australia Bank (ASX: CBA) The stock price is up 0.8% this morning.

CBA’s share price rises at the start of trading as the bank reports it is deploying COVID-19 vaccination centers.

What CommBank reported

In a press release this morning, CommBank announced the opening of dedicated vaccination centers to help its employees and their families in the national fight against the pandemic. The news is unlikely to have an immediate material impact on the CBA share price.

Vaccination centers will initially focus on areas of concern in the Greater Sydney area. The first center opened in Parramatta in early August. Two more opened last week. Centers in Blacktown, Cabramatta, Auburn, Liverpool and Campbelltown are expected to open this week.

CommBank reports that it is working to open more vaccination centers in other Local Government Areas (LGAs) of concern in New South Wales in the coming weeks.

The vaccination program for employees and their families is voluntary and works hand in hand with the rapid antigen test that CBA now offers to its agency staff in these same affected LGAs.

Commenting on the extraordinary measures, Commonwealth Bank Group Human Resources Director Sian Lewis said:

We know that preventative measures like vaccinations, and preventative measures like increasing testing, are the best courses of action right now to help our community fight the spread of COVID-19. As an essential service, with one of the largest workforce in the country, we are committed to implementing security and support measures to help keep our employees, customers and, in turn, the community at broad sense, as secure as possible.

The CBA employee vaccination program will help accelerate the vaccination rollout in NSW, and we as a bank are committed to doing everything we can to support the rollout across the country.

The bank said as vaccine supplies increase, it will roll out its vaccination program across Australia. He reports that 90% of the 11,000 employees surveyed last week said they were planning to get the vaccine.

CBA Share Price Snapshot

The CBA share price has been performing very well over the past 12 months, up 44%. This compares to a 22% gain on the S & P / ASX 200 Index (ASX: XJO).

Since the start of the year, the CBA share price has continued to outperform, up 21% in 2021.


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