CBA surges to record high

Commonwealth Bank says combination of solid revenue growth and cost discipline resulted in a strong profit in September quarter.

Commonwealth Bank of Australia (CBA) says a combination of solid revenue growth and cost discipline has precipitated a strong first-quarter profit for the lender.

Shares in the lender surged to fresh all-time highs on the news. At 1050 AEST, CBA shares were 1.47% higher at $78.15, against a benchmark index fall of 0.33%.

In earlier trade, CBA shares hit a fresh all-time high of $78.40.

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