Business
Comm Bank's profit falls with property market
Commonwealth Bank’s first-half cash profit has fallen 2.1 per cent to $4.676 billion, weighed down by Australia’s slowing property markets.
Business
Commonwealth Bank’s first-half cash profit has fallen 2.1 per cent to $4.676 billion, weighed down by Australia’s slowing property markets.
National
Commonwealth Bank CEO Matt Comyn admits the bank has prioritised profits over its customers, as it faces potentially compensating more than half a million customers sold dud add-on insurance.
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The Commonwealth Bank is reportedly facing renewed investigations after admitting it lost backup data on tape for more than 15 years of customer statements in 2016, affecting almost 20 million accounts.
Treasurer Scott Morrison expects more executives at Commonwealth Bank of Australia will go after a “damning” report by the banking regulator.
Evidence of widespread wage theft and revelations of a rotten culture in the nation’s financial sector point to a social contract in tatters – and will leave a lasting legacy of distrust and decay, writes Malcolm King.
Some Commonwealth Bank advisers charged dead clients for financial advice, in one case for a decade, the banking royal commission has heard.
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