Faster, higher...stronger?
A result that will surprise a few observers, with the Commonwealth Bank of Australia (ASX: CBA) reported unaudited cash earnings of ~$2.65 billion for the quarter, up by +6 per cent on improved margins.
There were seasonal declines in personal loans and credit card arrears.
An interesting point of note was that 90+ day home loan arrears were tracking at 0.59 per cent, marginally lower from the preceding quarter.
CBA noted that 90+ day home loan arrears have declined slightly over the past few years to 0.48 per cent when the state of Western Australia is excluded.
It's been a rough patch for the CBA and its reputation following the money laundering scandal.
But this was an emphatic result, and the share price blazed to back above $80, having traded as low as $73.20 in September.
