Commonwealth Bank posts record half-year cash profit as investors pile into housing market

CBA shares surge by 7% after bumper $5.45bn result while data shows owner-occupiers’ share of lending has decreased in tight property marketFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe Commonwealth Bank has delivered a record $5.45bn half-year cash profit, as investors pile into the housing market and take market share from owner-occupiers.Australia’s biggest lender said on Wednesday it was settling more than 3,000 housing loans on average every week, with property prices now at or near record highs across large parts of the country. Continue reading...