Preston 9 May 2023(TIE)
The Commonwealth Bank of Australia (CBA) has reported a quarterly profit of AUD 2.6 billion ($1.9 billion) for the period ending March 31, 2023, a rise of 10% from the same period in the previous year. However, the bank has also warned its customers who are struggling financially to contact them to avoid defaulting on their loans. CBA’s CEO, Matt Comyn, has stated that the bank has taken a responsible approach to lending, but acknowledges that some customers may face difficulties due to economic uncertainty and external factors beyond their control. The bank has urged customers to reach out to discuss their options for managing their loans and debts.