CBA reports a Q3 $2.4bn net profit decline, citing costly living & higher interest rates, but notes strong Australian economy.
CBA reports a $2.4bn net profit for Q3, down from previous quarters. The bank's CEO, Matt Comyn, attributes the drop to increased living costs and higher interest rates, but notes that the Australian economy remains resilient, with low unemployment and elevated terms of trade. CBA has maintained support for customers, with mortgage lending increasing by $4.2bn, and a $2.7bn rise in lending to businesses.
May 08, 2024
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