CBAPG News: Commonwealth Bank’s 1Q Profit Falls as Arrears Tick Up - 14th Nov 2023, 10:11am

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SYDNEY— Commonwealth Bank of Australia reported a drop in first-quarter profit, and said it has seen a small increase in consumer arrears recently amid higher interest rates and inflation. Australia’s largest bank on Tuesday reported an unaudited net profit of 2.50 billion Australian dollars (US$1.59 billion) for the three months through September. Commonwealth Bank reported first-quarter cash earnings, a measure of profitability that strips out items such as the impact of asset sales,...

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