CEO of Australia’s biggest bank cautions on risks

"Downside risks are building as slowing demand and persistent inflation impact Australian businesses," Comyn said. — Bloomberg

SYDNEY: Commonwealth Bank of Australia (CBA) chief executive officer Matt Comyn says risks are mounting in the economy after profit at the country’s largest lender topped expectations even as it continues to battle strong competition in the mortgage market that’s driving down margins.

Cash profit from continuing operations came in at A$5.02bil in the six months ended Dec 31, the Sydney-based firm said in a statement.