Australia's Commonwealth Bank posts record profits

Sydney

AUSTRALIA'S biggest bank, the Commonwealth, sounded a cautious note about the country's economic outlook on Wednesday even as it posted a record A$9.23 billion (S$9.56 billion) in annual profit.

The Commonwealth Bank's performance is closely watched to provide guidance on the health of the Australian economy in the current low interest-rate environment.

CBA chief executive Ian Narev said the company remained positive …