February 11, 2020 / 8:48 PM / 10 days ago

Australia's CBA posts 4.3% drop in half-year cash earnings

Feb 12 (Reuters) - Commonwealth Bank of Australia, the country’s biggest lender, posted a 4.3% fall in half-year cash earnings on Wednesday, as record low interest rates and rising costs pressured its margins.

Cash profit from continuing operations, a measure that excludes one-offs and non-cash accounting items, fell to A$4.48 billion for the six months ended Dec. 31, compared with A$4.68 billion last year.

Six analysts polled by Reuters were expecting a cash profit of A$4.33 billion. (Reporting by Rashmi Ashok in Bengaluru; Editing by Shailesh Kuber)

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