November 6, 2018 / 8:40 PM / 11 days ago

Australia's Commonwealth Bank posts 5.7 pct fall in Q1 profit

Nov 7 (Reuters) - Commonwealth Bank of Australia posted a 5.7 percent fall in first-quarter unaudited cash profit as higher funding costs put pressure on margins, while higher bad debts also hurt.

Cash earnings, a measure that excludes one-offs and non-cash accounting items, fell to A$2.50 billion ($1.81 billion) for the three months ended Sept. 30, compared with A$2.65 billion a year ago, the bank said in a limited trading update.

Impaired assets for the quarter rose to A$6.6 billion, compared with A$6.1 billion last year. ($1 = 1.3848 Australian dollars) (Reporting by Rushil Dutta in Bengaluru; Editing by Stephen Coates and Alison Williams)

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