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CBA chief backs banking inquiry

by Staff Reporter7 minute read
The Adviser

Staff Reporter

The chief executive of Australia’s biggest bank has publicly thrown his support behind a government inquiry into the banking sector.

In announcing the Commonwealth Bank of Australia’s financial results this week, the lenders’s chief executive Ian Narev said he would “back” an independent review of the banking system if it was ordered.

"There are legitimate questions to be asked on Australia's future funding model, the role of the banks and the role of capital markets," Mr Narev said.

"If the view is taken that the best way to deal with that is an inquiry then we are OK with that.

"If a government of either side that is in power at the time decides we need an inquiry then we will take it seriously and engage deeply on the issue."

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