CBA’s result beat analyst expectations as CEO says economy remains resilient despite cost-of-living pressuresFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastThe Commonwealth Bank has defied a slowing economy to post a $9.8bn full-year cash profit in a robust result delivered against a backdrop of rising household costs and mortgage stress.The result, representing a modest 2% decline from last year’s record cash profit, beat analyst expectations and rewarded investors with a higher-than-expected dividend.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…
Source link : https://www.theguardian.com/news/article/2024/aug/14/cba-records-9-8bn-cash-profit-mortgage-stress-commonwealth-bank-australia
Author : Jonathan Barrett
Publish date : 2024-08-14 00:26:14
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Commonwealth Bank records $9.8bn cash profit amid rising mortgage stress
