(Reuters) - Commonwealth Bank of Australia reported a 23% jump in half-year cash profit on Wednesday on the back of higher lending, but the bank signalled that intense competition was eating into its margins.
The margin warning follows similar ones from rivals such as Westpac and underlines how the banks' bid to protect market share by offering more attractive home loan rates is hitting profits.
The pressure has also been worsened by a customer shift towards fixed-rate loans, which tend to be ...
>>> Read more: Commonwealth Bank of Australia posts profit jump, warns of margin pressure
The margin warning follows similar ones from rivals such as Westpac and underlines how the banks' bid to protect market share by offering more attractive home loan rates is hitting profits.
The pressure has also been worsened by a customer shift towards fixed-rate loans, which tend to be ...
>>> Read more: Commonwealth Bank of Australia posts profit jump, warns of margin pressure
