fbpx
Click here for the latest banking information on COVID-19

Statement from ABA CEO Anna Bligh on the release of the Final Report of the Royal Commission

4 February 2019

The Australian banking industry acknowledges the rigour and diligence that Commissioner Hayne and his team have brought to this task.

The industry thanks all those customers who brought their personal experiences to the Commission – it is their courage underpinning this report.

This Commission has put the entire banking sector under the microscope. And this Final Report lays bare how banks have failed their customers and let down the Australian public.

Banks understand these failures have caused deep hurt, suffering and heartache for far too many customers and are sorry for the pain they have caused.

Banks accept full responsibility for these failings and know that they must now change to ensure this never happens again.

Banks are determined to learn the lessons, fix the problems and make it right.

Australians expect better from their banks and they deserve better.

This Report contains some very tough medicine for banks, including potential court cases.

The industry has already formed a Taskforce to begin the work that will be needed to get this job done.

This report is a roadmap for the industry to drive the change needed to earn back the trust of the Australian people.

This is an opportunity for banks to reset their relationship with customers and the public and they are determined not to miss it.

The industry understands that many people are cynical about whether banks will really change, but don’t judge us by our words, judge us by our actions.

ENDS
Contact: Rory Grant 0475 741 007

Latest news

1 / 3
Op-Ed
Efficient and Responsible: Getting the Lending Balance Right
25 November 2020

Access to credit opens up opportunities and fulfills aspirations. Getting it right requires the right balance between consumer protections and the flow of credit.

Read more
Transcript
TRANSCRIPT: ABA CEO Anna Bligh on ABC Radio’s AM 18 November “a chance to get back on their feet”
18 November 2020

Interviewed by AM’s Peter Ryan, ABA CEO Anna Bligh talked about the substantial drop in loan deferrals since their peak during the pandemic, falling from 900,000 to 300,000.

Read more
Media Releases
Majority of deferred loans back on track
17 November 2020

The number of deferred loans has fallen below 300,000 – a reduction of almost 70% since the peak earlier this year.

Read more