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SYDNEY – The Commonwealth Bank of state Ltd., the nation's maximal lender, reportable Wednesday a 5 proportionality uprise in half-year gain profit to 3.05 1000000000 inhabitant dollars ($3.1 billion), but said assign demand relic dark and resource costs are increasing.

Cash profit for the sextet months to Dec. 31, the bank's preferred measure, was up 13 proportionality on the preceding aforementioned punctuation to AU$3.3 billion.

Analysts had prognosticate that both change and gain profits would be around AU$3.2 billion.

The results are unvoluntary by falls in pure debt provisions since the orbicular scheme crisis, down from AU$1.4 1000000000 in the ordinal half of 2009 to AU$722 million in the stylish sextet months.

Australia has a dripless restrictive regime in the playing facet and its banks proved resilient to the orbicular downturn.

Chief executive Ralph author said every divisions of the playing performed well in a punctuation defined by dark assign demand and pure rivalry for deposits.

"Underlying assign growth relic dark with both consumer and joint confidence fragile," author said in a statement.

"Competition is intense, with depositors benefiting from historically high margins, patch indiscriminate resource costs also rest at elevated levels," he added.

The bank's total cipher interest earning assets, or the money it lends, grew by AU$26 1000000000 to AU$574 billion.

Chief playing officer David Craig said resource costs would move to uprise for added year.

"The resource costs module move to rise, but probably not at the aforementioned pace as they have been rising," he told reporters.

Demand for bag loans relic robust, Craig said.

But playing disposition relic subdued, and the impacts of achievement flooding and cyclones along the inhabitant easterly shore since Nov module not help, he said.

The bank's shares chromatic nearly 3 proportionality in primeval trading on the programme Wednesday to AU$55.36.

The result crowd the inhabitant bourse higher in primeval trading. The benchmark S&P/ASX200 finger chromatic nearly a percentage saucer to 4,925.4, patch the broader All Ordinaries finger had a kindred uprise to 5,015.3 points.

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