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By Byron Kaye and Sameer Manekar
SYDNEY (Reuters) - Commonwealth Bank of Australia, the country's biggest lender, posted record annual profit on Wednesday as rising interest rates helped it charge customers more, but warned higher living costs were pushing up debt arrears and competition was squeezing margins.
The update from the supplier of a quarter of Australia's A$2 trillion ($1.3 trillion) of mortgages signals a turning point for a sector that benefited from a property boom through COVID-...
>>> Read more: Australia's CBA posts record FY profit, says arrears rising amid cost pressure
SYDNEY (Reuters) - Commonwealth Bank of Australia, the country's biggest lender, posted record annual profit on Wednesday as rising interest rates helped it charge customers more, but warned higher living costs were pushing up debt arrears and competition was squeezing margins.
The update from the supplier of a quarter of Australia's A$2 trillion ($1.3 trillion) of mortgages signals a turning point for a sector that benefited from a property boom through COVID-...
>>> Read more: Australia's CBA posts record FY profit, says arrears rising amid cost pressure
