Like the other majors, growth is slowing and the bank’s net interest margins fell slightly, although not as much as some of its competitors.
Commonwealth Bank’s credit quality was a stand-out. Loan impairment expense was 0.13 per cent of assets in the quarter compared with 0.16 per cent for the previous financial year and market expectations of about 0.18 per cent.
The CBA’s first quarter profit result of +4% has underwhelmed markets, from the AFR: