Commonwealth Bank reports $5.02 billion H1 profit

Commonwealth Bank reported its first-half cash profit is down three per cent from a year ago. (Dan Peled/AAP PHOTOS)

Australia's biggest bank was less profitable in the first half, with its operating expenses increasing while its income stayed flat amid increasing competition for home loan customers.

Commonwealth Bank made $5.02 billion in cash profit after tax in the six months to December 31, down three per cent from the first half of 2022/23.