The Commonwealth Bank reports flat quarterly profit at $2.2 billion

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The Commonwealth Bank posted a flat March quarter cash profit of $2.2 billion with a rise in expenses and pressure on loan margins.

Revenue growth was similar to the first half of 2015 and trading income was strong, the bank said.

In February Commonwealth Bank posted an 8% rise in cash profit of $4.623 billion for first half of the year.

In the three months to the end of March the bank said interest margins continued to be impacted by competition.

Expenses were higher because of growing regulatory, compliance and remediation costs, including those associated with legislative reforms.

Home lending volume growth continued to track slightly down and core business lending growth remained at mid-single digits.

Investors have been wary of bank stocks since Monday when Westpac posted disappointing first half cash profit of $3.778 billion.

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