The Commonwealth Bank (ASX:CBA) has announced its cash net profit fell by 2 per cent on a reported basis and dropped by 9 per cent on an underlying basis for the 3rd quarter of 2018.
Meantime its underlying operating income decreased by 4 per cent.
The fall was due to more home loan borrowers switching from interest only loans to loans paying back principal and interest.
The bank said there had been a rise in home loan arrears due to rising essential costs and limited income growth.
Shares in CBA (ASX:CBA ) down 3.05 per cent to $71.26