Commonwealth Bank of Australia (AU:CBA) has released an update.
Commonwealth Bank of Australia reported a robust unaudited cash net profit after tax of approximately $2.5 billion for the quarter, reflecting a 5% increase from the previous half-year average. Despite challenges such as wage inflation and competitive deposit pricing, the bank’s operating income rose by 3.5%, supported by growth in lending and deposits. The bank maintains a strong balance sheet, with a CET1 ratio of 11.8%, and continues to focus on customer service and strategic investments.
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