Here's how Commonwealth Bank's business segments fared in 1Q13

Guess which funds grew by 4%?

Below is CBA's business commentary:

Australia – Retail

System home loan credit growth remained modest through the March quarter, with the Group growing slightly ahead of system. Growth in household deposits was also above system. Deposit margins remained under pressure in a competitive market. Good cost discipline was maintained in both Retail Banking Services and Bankwest.

Australia – Commercial

Asset growth reflected ongoing low system credit growth in the quarter. Aggregate margins were broadly stable through the quarter, notwithstanding continued competitive and funding pressures, particularly in deposits.
Wealth Management and Insurance

Funds under Administration and Funds under Management each grew by 4 per cent in the quarter, benefitting from strong investment performance as global equity markets improved. FirstChoice and Custom Solutions attracted solid combined net flows of $1.1 billion, with a second consecutive quarter of strong net flows to equities.

Insurance premium growth was subdued as strong momentum in General Insurance and Direct Life was offset by weaker Wholesale Risk and Retail Advice performance.

New Zealand

The New Zealand economy continued to show signs of recovery, underpinned by a stronger household sector. ASB maintained above system growth in both home lending and commercial lending. New business home loan margins remained under competitive pressure, though there was some improvement in term deposit margins through the quarter.

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