May 9 (Reuters) - Commonwealth Bank of Australia (CBA) posted a 2 percent fall in cash profit from a year ago as regulatory charges mount as a result of major failings in compliance and culture revealed by an independent inquiry.
Cash earnings, a measure that excludes one-offs and non-cash accounting items, fell to A$2.35 billion ($1.75 billion) for the three months ended March 31 compared with A$2.4 billion reported a year ago, the bank said in a limited trading update.
Impaired assets for the quarter fell to A$6.6 billion, compared with A$6.7 billion last year. ($1 = 1.3419 Australian dollars)
News: WBC Australia's Commonwealth Bank Q3 profit falls 2 pct as charges mount
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