AUD News 

Commonwealth Bank racks up another record profit

“Commonwealth Bank’s performance is viewed by some economists as an economic bellwether since it sells more home loans than any of its rivals, controlling about one quarter of the mortgage market” writes Robb M for Commonwealth Bank, the country’s largest lender by assets and market value, reported a 7.6% rise in net profit to 9.93 billion Australian dollars (US$7.86 billion) in the 12 months to June 30, from A$9.22 billion the year before.Narev told investors, adding that there was no evidence the allegations stemmed from a profit motive or unethical behaviour.

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