The Commonwealth Bank has reported an annual profit of $9.8 billion after tax for the 2023/24 financial year.
It marks a 2% decrease in cash profits from the previous.
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In itsto investors, the bank noted that cost-of-living pressures were causing more customers to fall behind on their mortgage payments than in the past.
CEO Matt Comyn said that while “risks continue around… housing affordability [and] ongoing global uncertainty,” the Australian economy is “resilient”.
