Australia's CBA reports profit growth and stable margins from January through March

Commonwealth Bank of Australia (CBA) reported a 6% rise in first-quarter profit, driven by higher lending volumes and a recovery in trading revenue. Margins during the period were also stable, as the national financial institution claimed.

In the first three months, Australia's biggest creditor reported a net profit after taxes of around A$2.6 billion ($1.68 billion). The bank saw its interest income rise by 1% in those months. Meanwhile, the country’s home lending surged 4.1%, with loans to businesses hiking 9.1% from December 2024 levels. 

CBA's net interest margin was stable in the first quarter, excluding one-off income. Still, the company did not provide data on a key measure of profitability in its trading statement, Reuters noted.

Three other Australian banks of the so-called "big four" — National Australia Bank, Westpac, and ANZ Group — reported mixed first-quarter earnings results last week.