CBA posts profit slide due to ongoing risks associated with pandemic

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Commonwealth Bank says it is committed to Australia’s economic recovery despite super low interest rates battering the institution’s bottom line. 

Releasing its interim results for the first half of the 2021 financial year, CBA posted a $3.89bn cash profit, a 10.8 per cent decline on the same period last year.

The bank noted increased provisions because of COVID-19 and significantly lower interest rate settings had impacted the nation’s largest mortgage lender.

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