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CBA boss says repaying ‘excessive fees’ to low-income customers could be seen as taking shareholder money

18.11.2025 07:49 | The Guardian World

The Commonwealth Bank – which reported a record cash profit of $10.3bn in the most recent financial year – charged $270m in excessive fees over five yearsThe head of Australia’s biggest and most profitable bank says reimbursing hundreds of millions of dollars in fees to its lower income customers would be an “appropriation” of shareholder money.The Commonwealth Bank’s chief executive, Mat Comyn, mounted a fierce defence of charging fees according to its terms and conditions during a parliamentary committee hearing in Canberra on Tuesday morning, Continue reading...

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