The Commonwealth Bank Starts The Financial Year With A $2.3 billion First Quarter Cash Profit

Commonwealth Bank CEO Ian Narev. Getty

The Commonwealth Bank posted an unaudited $2.3 billion first quarter cash profit, up 10% from $2.1 billion.

Statutory net profit rose by 14% to $2.4 billion.

The bank says told overall business momentum is being maintained.

In home lending remains on profitable growth in a competitive market.

The four big banks have all reported their 2014 full year results, posting a record combined $28.6 billion in cash earnings.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at