Commonwealth Bank profit jumps to $5.15bn amid rising interest rates

The country’s biggest lender attributed the stronger result to volume growth and a recovery in margins as interest rates rose from historic lows

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Commonwealth Bank of Australia has delivered a jump in half-year profit as it benefited from rising interest rates and stronger business lending growth.

The country’s biggest lender on Wednesday reported a cash profit of $5.15bn for the six months to December 31, a 9.0% increase from the year earlier, and in line with analyst estimates.