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Commonwealth Bank welcomes improved banking sector Code of Practice

Media release

CommBank can

Media release

Commonwealth Bank welcomes improved banking sector Code of Practice

Sydney: 31 January 2013 – Commonwealth Bank CEO Ian Narev has strongly supported the Australian Bankers' Association revised Code of Banking Practice, which has been released today.

The Code sets out a commitment from participant banks to meet agreed standards for customers in the areas of transparency, accountability, fairness and behaviour. The Code was developed in consultation with regulators, consumer advocacy groups, and counselling and charity organisations.

Mr Narev said: "Commonwealth Bank is committed to ensuring our customers can expect their financial institution to be open and honest, and provide assistance when they need it.

"We continue to improve the way we support our customers in hardship, with dedicated support and customer relations teams, a suite of no-fee and low-rate products, and fee free banking for about one-third of our customers."

"The Commonwealth Bank is genuinely committed to assisting customers to understand and make the best decision about the financial products and services they need. Making sure of this is in the best long-term interest of our customers, and therefore for us," he added


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Media contact:

Bryan Fitzgerald,
Commonwealth Bank