Commonwealth Bank of Australia third-quarter profit rises 8%

Kitco Media
By Reuters
Published:
Updated:
Reuters
May 9 (Reuters) - Commonwealth Bank of Australia on Tuesday reported an 8.3% rise in third-quarter cash earnings, helped by higher volume growth in business and home lending portfolios. The country's biggest lender said cash net profit after tax was about A$2.60 billion ($1.76 billion) for the three months ending March 31, marginally beating the consensus estimate of A$2.58 billion by Visible Alpha, according to Citi. The company reported A$2.40 billion in cash net profit after tax a year earlier.
($1 = 1.4743 Australian dollars) (Reporting by Sameer Manekar in Bengaluru; Editing by Shinjini Ganguli)

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