5 Best ASX Stocks to Buy Heading into 2023

1. Commonwealth Bank of Australia (ASX:CBA.AX)

Market Capitalization as of 12/6 in Australian Dollars: 180.011 billion

Commonwealth Bank of Australia (ASX:CBA.AX) ranks #1 on our list of 10 Best ASX Stocks to Buy Heading into 2023 with a market capitalization of A$180.011 billion as of 12/6. Commonwealth Bank of Australia (ASX:CBA.AX) is one of the leading banks in Australia with substantial scale and competitive advantages. Although shares have not rallied much since 2013, the bank has a dividend yield of around 3.57% and the company could benefit from rising rates with more potential net interest income.

Commonwealth Bank of Australia (ASX:CBA.AX) CEO Matt Comyn said in a Q1 2023 trading update, “Consistent and disciplined execution of our strategy delivered strong financial and operational outcomes in the first quarter of FY23, highlighted by Cash NPAT of approximately $2.5 billion, 12% growth in operating performance and sound portfolio credit quality. In a competitive environment, we remained disciplined and achieved good volume growth in our core markets. Our capital position remained strong, with CET1 (Level 2) at 11.1%, following the payment of $3.6 billion in 2H22 dividends.”

You can also take a look at 15 Biggest Banks In The World and Ken Griffin Stock Portfolio: Top 10 Stock Picks.

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