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Australia's CBA posts Q3 profit rise on higher net interest margin
May 14, 2013 / 11:32 PM / 5 years ago

Australia's CBA posts Q3 profit rise on higher net interest margin

SYDNEY, May 15 (Reuters) - Commonwealth Bank of Australia , the country’s top lender by market value, on Wednesday posted an 8.57 percent rise in third-quarter cash profit to A$1.9 billion ($1.88 billion), helped by a higher net interest margin.

The unaudited cash profit in the three months to March compared with A$1.75 billion a year ago. Cash profit, which excludes one-offs and non-cash accounting items, is closely watched by investors.

CBA’s results capped off a bumper quarterly earnings period for Australia’s “Big Four” banks which have reported record combined profits in recent weeks.

A$1 = $0.9901 Reporting By Maggie Lu Yueyang; Editing by Stephen Coates

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