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Australia's CBA Q1 profit rises 10.4 pct
November 7, 2017 / 9:34 PM / a month ago

Australia's CBA Q1 profit rises 10.4 pct

Nov 8 (Reuters) - Commonwealth Bank of Australia (CBA) said on Wednesday its first-quarter unaudited cash earnings grew 10.4 percent as a re-pricing of its mortgage book helped margins in its home lending arm.

Cash earnings for Australia’s biggest bank by market value came in at A$2.65 billion ($2.03 billion) for the three months ending Sept. 30, higher than A$2.4 billion last year, the bank said in a limited trading update.

Bad debts fell to A$6.1 billion, from A$6.8 billion a year ago. ($1 = 1.3079 Australian dollars) (Reporting by Rushil Dutta in Bengaluru; Editing by Alison Williams)

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