The Promontory reports provide an update on actions CBA has taken to deliver the Remedial Action Plan. The Independent Reviewer noted CBA has made ‘strong progress’ and ‘remained on track’ to deliver the plan.
As at 30 June 2020, CBA had submitted on time to the Independent Reviewer 139 of 176 milestones. The Independent Reviewer had closed 116 milestones and a further 23 milestones were in assessment.
Commonwealth Bank Chief Executive Officer Matt Comyn said: “We note the Independent Reviewer’s positive comments on our progress. We remain committed to delivering the Program in full and on time.
“As the Independent Reviewer has said, some of the remaining milestones will be the most difficult to complete with wide-ranging behavioural, process and technology changes required. Changes that we will continue to deliver with the required focus and attention,” Mr Comyn said.
To read Promontory Australia's seventh independent report into the progress of CBA's Remedial Action Plan, click here.