Commonwealth Bank of Australia Quarterly Cash Profit Up 5.7%

Commonwealth Bank of Australia CMWAY reported a 5.7% rise in its cash earnings in its latest quarter. The bank posted a quarterly net profit of 1.8 billion Australian dollars (US$1.88 billion). Its cash profit surged to A$1.85 billion, from A$1.75 billion, in the year-earlier period. Commonwealth Bank shares gained 1.96% to close at $60.46 yesterday.