Business
Commonwealth Bank has beaten market expectations with a $4.48 billion first-half cash profit amid pressure from record low interest rates, bushfire impacts and rising costs.
News
Commonwealth Bank will hand over as much as $53.1 million it owes staff in unpaid entitlements.
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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.
A $700 million settlement between financial intelligence agency AUSTRAC and Commonwealth Bank of Australia over money laundering has been welcomed by the Federal Government.
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.
