CBA reports $11 billion annual profit - despite 15% decline in mortgage applications
Australia's biggest home lender, Commonwealth Bank, has beaten forecasts with a near $11 billion dollar annual profit. At the same time it warns of how cost-of-living pressures, a slowing Australian economy and global uncertainties are starting to show up in its loan book. Stephanie Youssef speaks to Francesco De Stradis, Investment Advisor at Ord Minnett.
The skinny
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