Commonwealth Bank of Australia, one of Australia's Big Four banks, posted a net profit of A$1.8 billion (around $1.88 billion) in the three months to 30 September 2012 on strong performances by its key businesses. 

CBA said cash earnings rose by 5.7 per cent from the year-earlier period as better trading income and cost-cutting helped offset weak credit demand. 

The wealth management and insurance business recorded steady volume growth in the quarter, with funds under administration rising 6 per cent, implying a first-half cash profit of A$3.7 billion. The firm also saw its asset base grow, with deposits generating at least 63 per cent of total funding.

The bank did not provide a year-earlier comparison for its net profit, although it said earnings were stable considering the elevated fund costs and a "relatively slower system credit growth".

Commonwealth Bank of Australia says it remains on track to post a record full-year net profit that is higher than the A$7.1 billion it posted for the 12 months to 30 June 2012.