Commonwealth Bank of Australia (ASX:CBA) has boosted its unaudited third-quarter cash earnings by 16 per cent but remains cautious about margins and credit growth.
Australia’s biggest bank reported cash earnings of $2.2 billion in the first three months of this year, rising from $1.9 billion the year before.
CBA says the result was achieved on the back of solid revenue growth and cost discipline as trading income returned to normalised levels.
The bank observed business momentum continued from the first half with an increased focus on managing the trade-off between volumes and margins as competitive pressures intensified.
Commonwealth Bank reported a net profit of $4.2 billion in the first half of the 2014 financial year.
