“The Royal Commission’s Interim Report released today is confronting and rightly critical of our industry and our bank. We have seen too many examples of unacceptable behaviour and unacceptable customer outcomes.

“The Commission has highlighted the need for significant changes, particularly to systems, processes and culture. I am committed to making sure that we learn from the failures detailed in this report to fix what went wrong and put things right for our customers.

“We have already made a number of changes and will make more to meet the community’s expectations and earn trust.

“The vast majority of our people do the right thing by their customers every day. They have also been let down.

“We will provide a comprehensive response to the Interim Report.”