Updated August 12, 2026 — 8:44am,first published 7:47am
Commonwealth Bank has notched up $11 billion in cash profit fuelled by growth across its vast loan and deposit portfolios, but it also warned economic growth was slowing amid higher interest rates and inflation.
CBA on Wednesday said cash net profit after tax rose 7 per cent in the year to June, as its operating income grew by 6 per cent, helped by growth in CBA’s key markets of home loans, business loans, consumer lending and household and business deposits.
Despite strong growth in the year to June, however, CBA also said new applications for mortgages had fallen 15 per cent since the May budget, as the housing market slows due to higher interest rates and a tightening in tax concessions for property investors. The bank also said costs from soured loans had increased due to cost of living pressures and increased economic uncertainty.
Chief executive Matt Comyn said the economy had been resilient, helped by low unemployment and solid investment, though economic growth was feeling the effects of higher interest rates and inflation.
