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Australia's CBA first-quarter profit falls 16%

Nov 11 (Reuters) - Commonwealth Bank of Australia (CBA) said on Wednesday its first-quarter cash net profit after tax fell 16% as record-low interest rates squeezed margins at the country’s biggest bank.

Cash profit, which excludes one-offs and non-cash accounting items, fell to A$1.80 billion ($1.31 billion) in the three months ended Sept. 30, CBA said. ($1 = 1.3740 Australian dollars) (Reporting by Shashwat Awasthi in Bengaluru; Editing by Aditya Soni)

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