The bank reported strong business lending growth of 13.6 per cent for the quarter as it continued to take market share in that sector from rivals.
Commonwealth Bank reported an 8 per cent rise in first-quarter net profit to $2.8 billion, lifted by strong business lending growth, even as it braced for a weakening economy and greater pain for households struggling to meet mortgage repayments.
The result for Australia’s largest bank was flat when measured against its second-half quarterly average.
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The corporate regulator has started legal proceedings against the nation’s biggest bank, alleging that it misled 42,000 business customers and overcharged them about $8.5 million in fees.
The bank attributed the higher rate of people struggling to inflation and rising interest rates.
The drug distributor also raised its full-year earnings guidance.
AMD thinks over 80 percent of its revenue will eventually come from its data center business alone.
Windfall for oil corporations such Saudi Aramco and BP comes on back of soaring fuel prices driven by Iran war
