SYDNEY Nov 7 Commonwealth Bank of Australia
(CBA), the nation's biggest mortgage lender, reported a
6 percent rise in first-quarter profit on Wednesday, boosted by
an improvement in trading income and cost controls.
Australia's second-largest lender said its unaudited cash
profit for the three months to end-September was A$1.85 billion
($1.93 billion), up from A$1.75 billion a year ago. Because the
of the limited nature of the trading update, few analysts
forecast quarterly earnings.
The bank said impairment expenses were broadly stable at 21
basis points of total average loans, or A$291 million in the
ANZ, NAB and Westpac all reported full-year earnings in
recent weeks showing rising bad debt charges, underlining the
challenge facing the country's banks from slowing growth in
($1 = 0.9593 Australian dollars)
(Reporting By Jane Wardell; Editing by Richard Pullin and John