The Commonwealth Bank has posted a record profit of more than 10 billion dollars up five per cent on last financial year, but it warrants questions from their valued customers.

Chief Economist of the AMP Shane Oliver says while the bank has recorded a profit, they need to be aware many customers are struggling in these times.

“Banks need to be very conscious that as rates go higher they don’t want customers to fall beyond their loan because while that’s bad news for the customer its bad news for the banks as well,” Mr Oliver told Neil Mitchell.

Press PLAY below to hear his concerns