Commonwealth Bank of Australia posts record half-year profit

Commonwealth Bank of Australia posts record half-year profit

(Reuters) – Commonwealth Bank of Australia posted a record half-year cash profit on Wednesday, reaping the benefits from a sharp margin expansion courtesy of aggressive interest rate hikes.

The countrys biggest lender said cash profit from continuing operations climbed to A$5.15 billion over the six months ended Dec. 31, from A$4.75 billion a year ago.

It almost in-line with a Visible Alpha consensus estimate of A$5.17 billion, according to Citi Research.

(Reporting by Savyata Mishra and Harish Sridharan in Bengaluru; Editing by Krishna Chandra Eluri)

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