COMMONWEALTH Bank of Australia has lifted its third quarter profit by 12 per cent to $1.9 billion.
Australia's largest home lender said market conditions remained subdued during the three months to March 31, but it managed to grow its loan and deposit portfolios above the banking industry's average rate.
CBA's unaudited net profit in the period was up from $1.75 billion in the same period last year.
The bank's cash profit in the three months to March, which excludes one-off financial items, was also approximately $1.9 billion, up 8.5 per cent on the previous corresponding period.
"Revenue growth continued to reflect a combination of conservative business settings and modest system credit growth," the bank said in a statement on Wednesday.
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