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We'll be accountable, bank boss promises

CBA CEO Ian Narev has no issues with a Greens move to establish an inquiry into the banking sector. CBA CEO Ian Narev has no issues with a Greens move to establish an inquiry into the banking sector.

The head of Australia's biggest bank says he is prepared to front up to any inquiry parliament or the government sets up to investigate the sector.

Commonwealth Bank CEO Ian Narev is scheduled to make a second appearance before the House of Representatives economics committee in March as part of its regular review of the banking and financial system.

Asked whether he was comfortable with a Greens move to establish a parliamentary commission of inquiry, Mr Narev told ABC radio on Friday: "Whatever we're asked to do, we'll obviously go and be accountable and we'll front up."

The bank will release in a couple of weeks a "very detailed" report of its own investigation into alleged misbehaviour by its insurance arm Comminsure.

Mr Narev, appearing before the economics committee in October, was quizzed about a number of life insurance scandals that have hit the bank.

In one case Comminsure refused to pay out a claim for a woman who died of a prescription overdose because the bank decided she had taken her own life, notwithstanding police and the coroner ruling it had been an accidental overdose

Mr Narev admitted that was "not a customer friendly process".

"We believe in being accountable, being visible and being transparent and in whatever forums we're asked to do that we'll obviously do it," Mr Narev said on Friday.

This article was first published by https://thewest.com.au

Last modified onSunday, 19 February 2017 18:49

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