Westpac hit outs at Hayne inquiry’s release of mortgage report

Westpac has hit out at the banking royal commission’s release of documents suggesting its lending controls were ineffective, saying a report by PwC had been taken out of context and confused the market, the bank’s chief financial officer Peter King said.

Westpac to refund $65m to 200,000 customers after discounts blunder

Pointing to Westpac’s pristine credit quality during the presentation of its half-year results, Mr King and chief executive Brian Hartzer said the royal commission had uncovered some “inexcusable” cases of customer harm but the publication of a “targeted review” of mortgage lending by the Australian Prudential Regulation Authority had been based on incomplete information.

Read the full article at the Australian Financial Review.

Share This