CBA reports $8.68b record profit

CBA reports $8.68b record profit

Chief executive Ian Narev said he was "cautiously positive" about the year ahead, as lower interest rates were boosting key sectors. "Lower interest rates have been positive for the housing and construction sectors, where increased activity has gone some way to offset the impacts of the anticipated reduction in investment in the resources sector," he said in a statement. “If the stability in global markets continues, gradual increases in consumer spending and demand for credit from businesses over the next year are likely, as long as budget discussions are progressed and there is a clear understanding of Australia’s medium to long term economic direction.

Read more here: SMH

    

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