cba 2014 profit + $10 billion?

The CBA has posted a first half profit of $4.2B which includes bad debt provisions of ~$450m, the lowest provision for some time.

In the graph below one has to wonder where the CBA's price will head in the future and why.

Today's closing price of $76 puts the bank close to a spot within the top 5 banks by capitalization in the world and generally achieved on the back of mortgage lending.

In a debt filled world the CBA is a large debt provider linked with an umbilical cord to hot property growth at home.

Share price growth is also manipulated by the dividend payout ratio that must be intentional. So why would the CBA divert capital to keep the share price up?

Perhaps it's an attempt to maintain access to cheaper funding but at some point this must stop or reverse. When that happens to the mighty CBA the effect on our equity markets could be quite substantial and perhaps large enough to have domestic economic repercussions.

Let's hope the CBA is good at the game it's playing.