Top Australian bank CBA logs flat first-quarter profit
Nov 13 (Reuters) -Commonwealth Bank of Australia CBA.AX said on Wednesday its first-quarter cash earnings remained largely flat, but flagged that cut-throat lending competition and rising costs were causing volatility in margins.
The country's biggest lender said its cash net profit after tax was A$2.50 billion ($1.63 billion) for the quarter ended Sept. 30, compared with A$2.50 billion a year earlier. That compares to a Visible Alpha consensus estimate of A$2.48 billion, as per Citi.
($1 = 1.5307 Australian dollars)
Reporting by Roushni Nair and Himanshi Akhand in Bengaluru; Editing by Maju Samuel
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