Business
CBA’s $1b culture dividend – The Australian Financial Review
There is a lot riding on the successful completion of Commonwealth Bank of Australia’s cultural change program. If successful it will release about $1 billion in capital.
APRA is watching like a hawk. It is demanding improved governance and accountability be embedded in every division of the bank.
No wonder the process is being taken so seriously by CBA chief executive Matt Comyn and chairwoman Catherine Livingstone. Both have devoted considerable space to the topic in the reams of documents published on Wednesday with the 2020 profit.
In many respects CBA is almost unrecognisable as the institution described in the prudential inquiry into the Commonwealth Bank…
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