New ABN Amro chief to axe almost a fifth of staff

The chief executive of CBA, Matt Comyn, has mounted a fierce defence of the bank’s decision to not repay $270m in fees to 2.2 million low-income customers after a report by Asic in July. CBA has already paid $25m in ‘goodwill payments’ to tens of thousands of low-income Indigenous customers after the regulator in 2024 released a report which found banks were keeping vulnerable customers in high-fee accounts. But Comyn this morning doubled down on the bank’s hardline approach to Asic’s more recent report that accused the bank of charging hundreds of millions of dollars in excessive fees to…

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