PHOTO: REUTERS[SYDNEY] Commonwealth Bank of Australia (CBA) said that mortgage applications had dropped 15 per cent since property tax changes in May, one of several challenges facing the country’s largest lender even as it posted a record A$10.98 billion (US$7.75 billion) full-year cash profit. The bank also warned on Wednesday (Aug 12) of a slowing economy as high interest rates and inflation pressured household budgets and economic activity. Investor lending applications were down 28 per cent, CBA noted, though Comyn added that the decline had since stabilised. Shares in CBA are up 7.1% this year, the only gain among Australia’s four major banks. CBA declared a record final dividend of A$2.70 per share, compared with A$2.60 last year.