Australia’s Biggest Bank Sees Profits Lift on Home and Business Lending
Signage for Commonwealth Bank of Australia. The company posted strong full year results on Wednesday.
Photographer: Brendon Thorne/BloombergGood morning, it’s Paul-Alain from the Melbourne bureau with your midweek briefing. The ASX is set to open in the green. But first...
Today’s must-reads:
• CBA profit lifts to A$10.25 billion
• Reserve Bank lowers key rate
• Dominos sells $1.32 billion in bonds
Commonwealth Bank of Australia profit met estimates as loan growth and a buoyant property market supported the country’s biggest lender. Cash profit from continuing operations came in at A$10.25 billion ($6.7 billion) for the 12 months ended June 30, according to a statement Wednesday. That compared with the A$10.26 billion average estimate of analysts surveyed by Bloomberg.
Sydney Airport said flights are operating as scheduled after a police officer’s weapon was fired inside the terminal early Wednesday. No one was injured in the incident, though one man was arrested, authorities said. Footage on local media appeared to show a man shouting as he was pinned on the floor by several people near a cafe.