Business
APRA returns half of $1b capital penalty to CBA – The Australian Financial Review
The prudential regulator has returned $500 million to Commonwealth Bank, reflecting the bank’s work at improving its governance, after scandals sank its reputation…
The prudential regulator has returned $500 million to Commonwealth Bank, reflecting the bank’s work at improving its governance, after scandals sank its reputation in 2017, but also that there is still some way to go before it is fully repaired.
The Australian Prudential Regulation Authority had hit CBA with a $1 billion capital penalty in May 2018 after its prudential inquiry found too much focus on financial success had “dulled the senses” of management, and led to an over-confident risk culture…
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