Commonwealth Bank of Australia reports stable $2.5 billion profit amid economic challenges.

Commonwealth Bank of Australia reported a $2.5 billion profit for the first quarter of FY 2025, stable compared to the previous year. CEO Matt Comyn cited slow Australian economic growth due to high interest rates and inflation. Despite a 3.5% increase in operating income, the bank faces challenges like rising impaired assets and cost of living pressures, though mortgage arrears remain stable.

November 12, 2024
8 Articles

Further Reading