The Commonwealth Bank yesterday posted a higher-than-expected $4.7 million profit, but don't imagine that is going to influence any decision to cut mortgage interest rates.

As the bank patted itself on the back for the 7 per cent profit increase, executives were at pains to say the bank would have to "consider its funding costs" before making any decision on dropping interest rates.

To be fair, it's not just the CBA wavering on whether it will pass on a rate cut which the Reserve Bank is expected to announce in the next few weeks.

The other big three banks, National Australia, ANZ and Westpac, have all issued similar ambiguous statements despite growing calls to pass on any cuts to struggling homebuyers.

It is a move sure to infuriate homebuyers, who have copped seven rate rises since early 2006.

The big banks have had no hesitation in passing on rate increases, often within days of announcements, yet feel no compunction at all to return the favour when rates fall.

While banks have shareholders to answer to, the customer will always bear the brunt of any bad news.

It's no wonder that smaller institutions, such as building societies and community credit unions, are reporting an upsurge in customers who have had enough of the big boys in the banking world.