Australia's CBA says bad-debt cycle likely peaked

SYDNEY, Nov 9 (Reuters) - Commonwealth Bank of Australia Ltd (CBA) (CBA.AX), the nation's second-biggest lender, believes the bad-debt cycle is likely to have peaked, Chief Executive Ralph Norris said on Monday.

CBA said in a trading update earlier in the day that it had made a first-quarter cash net profit was about A$1.4 billion ($1.29 billion), as home-loan growth and stronger equity markets drove earnings. It did not give a comparative figure.

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(Reporting by Morag MacKinnon; Editing by Mark Bendeich)