Royal Commission refunds weigh on Aussie banks

Australian banks continue to count the cost of misconduct, illuminated by the Royal Commission enquiry report, published in February.

The Big Four banks collectively subtracted A$1.7 billion ($1.2 billion) pre-tax from their first-half earnings (September 2018 to March 2019), up from A$1.3 billion in the second half of last year. 

Westpac took A$896 million of provisions in H1, the majority of which were used to refund customers bilked by the group’s financial planners and mis-sold certain

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: