Commonwealth Bank's $5billion cash profit after closing branches

The Commonwealth Bank has announced a cash profit of $5billion after closing down 354 branches and removing 2,297 ATMs in just five years.

The half-year result for Australia's biggest home lender disappointed market expectations.

The cash profit of $5.019billion for the final six months of 2023 was three per cent weaker compared with the same period in 2022, and covered the Reserve Bank in November raising interest rates for the 13th time in 18 months.

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