Commonwealth Bank
(ASX:CBA) has reported statutory net profit of $2.8 billion in the September quarter.
Unaudited cash earnings for the quarter increased by 6 per cent to $2.65 billion.
Operating income grew 4 per cent supported by volume growth and improved margins.
Group net interest margin (NIM) was higher in the quarter, driven by asset re-pricing and reduced liquid asset balances, partly offset by the impact of the banking levy, higher funding costs and competition.
The group issued $9.5 billion of long-term funding in the quarter, including a 30-year US$1.5 billion issue.
Shares in Commonwealth Bank
(ASX:CBA) are trading 0.93 per cent higher to $78.93.
