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CBA chief Matt Comyn puts bank into damage control

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Following a scathing report from The Australian Prudential Regulation Authority (APRA), Comm Bank CEO Matt Comyn says he’ll take full accountability.

The 110-page report from APRA says the bank has a “widespread sense of complacency, a reactive stance in dealing with risks, being insular and not learning from experience and mistakes”.

He tells Ross Greenwood the report is accurate and ensures the recommendations will be implemented.

“While it’s critical, I think the panel has done an excellent job at getting to the heart of some of those issues.

“I take full accountability for ensuring we implement the recommendations and make the fundamental changes which are necessary.

“The important point everyone needs to understand is that this is us. This is an expert and thorough analysis of the organisation.

“It’s incumbent on us to make sure we make the necessary changes.”

Listen to the full interview below