CBA

News: CBA Delivers $2.4 Billion for First Quarter Profit

Commonwealth Bank of Australia has recorded a $2.4 billion profit in its first quarter, with slight slowdown in income growth compared to the previous year.

CBA said the decline was due to the falling interest rates, stronger currency and higher insurance claims.

In total, CBA’s full-year cash profit to June 30 amounted to $9.45 billion.

Westpac announced on Monday that its full-year profit amounted to $7.82 billion, while National Australia Bank delivered $6.48 billion and ANZ reported 18 per cent decline in profit to $5.9 billion.

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