The Commonwealth Bank has announced a $5 billion half-year cash profit, down 3% from the same period last year. Hot competition for mortgage lending is behind that, with the bank dropping $2 billion from its home loan business. Boss Matt Comyn says they’re now focused on investors over owner-occupiers because they generate “higher margins”. Comyn says that while he remains “optimistic” about the national economy, interest rates may not come down until 2025. The banks – along with supermarkets, energy providers, and others – are in the sights of the government and regulators over claims that Aussies aren’t getting a good deal. A report released last week by the unions and Professor Allan Fels pointed out that only Germany has a higher banking concentration than Australia among major economies.