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Australia's CBA third-quarter cash profit doubles

Australia's CBA third-quarter cash profit doubles

05/11/2021 18:12
Australia's CBA third-quarter cash profit doubles

- Commonwealth Bank of Australia CBA.AX said on Wednesday its third-quarter cash profit doubled as a rapid economic recovery spurred robust lending and enabled the country's largest bank to reverse some bad debt provisions made during the COVID-19 pandemic.

Cash net profit after tax from continuing operations at the bank rose to A$2.4 billion ($1.88 billion) for the three months ended March, from about A$1.2 billion a year earlier. nAZN015R9H


($1 = 1.2755 Australian dollars)


(Reporting by Shashwat Awasthi in Bengaluru; Editing by Shailesh Kuber)

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