CBA shock that Bankwest wasn’t up to scratch

Original article by James Frost
The Australian Financial Review – Page: 7 : 30-May-18

The business loans portfolio of Bankwest came under scrutiny by the banking royal commission on 29 May. The Commonwealth Bank’s chief risk officer David Cohen told the inquiry that the loan book was reviewed after Bankwest’s acquisition in 2009, and concerns were raised about the quality of the loan book and the procedures used for granting loans. Bankwest CEO Jon Sutton also expressed concern about the quality of its business loan book in April 2009 and again in March 2010.

CORPORATES
BANKWEST, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY

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