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Major bank suspends demerger

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Madison Utley | 14 Mar 2019, 10:03 AM Agree 0
Major cites the need to focus on royal commission recommendations
  • Dean Semchyshyn | 14 Mar 2019, 10:34 AM Agree 0
    And the fact that the government has now changed its stance on trailing commissions has had no play in that - CBA must think people are fools. Support your local credit unions !
  • Larz | 14 Mar 2019, 12:42 PM Agree 0
    CBA say whatever suits them on the day but the bottom line was that they were the last to embrace the broker space and only did so because they were losing market share. They then held themselves up to be the pioneer with dealing with brokers and the brokers best supporter and at the same time were doing everything in their power to undermine brokers. That failed so they took over Aussie , in response the the NABs Plan, Choice, FAST move and joined the broker ranks and at the same time were plotting to get rid of commissions. This was made clear at the royal commission when they supported user pays upfront then once both parties decided to keep lender pays they supported that. Give me a break.
    And all through this brokers still supported them with business when there were other equally or better alternatives.
  • Ex-CBA Supporter | 14 Mar 2019, 01:26 PM Agree 0
    Yet another Matt Comyn screw up. When will the board see through this clown that everything he touches turns out rotten
  • Broker | 14 Mar 2019, 07:42 PM Agree 0
    More corporate jokes from CBA , like Westpac in 2008 they have kicked an own goal , probably 3 in fact , but their overall attitude is far worse than any other lender , ever. .Their market share from brokers will get hsmmered and never recover , which is exactly what this unethical rabbis deserve. Surely all brokers have now finally woken up .
  • Phil | 15 Mar 2019, 09:09 AM Agree 0
    Yep, of course they are now keeping Aussie. - My opinion - CBA calculated (and partly influenced) the proposed demise of the broker industry, moving away from it, denigrating it in the RC, Advertised the demerger in advance (thinking that the Aussie proposition would become a liability after the RC) to promote the all mighty CBA branch network. NOW, that the broker industry is Keeping viability and industry presence, they backflip to keep a potentially profitable AHL... CBA saw an opportunity to gain considerable market share, - went for it,- and LOST. I have no time for a bank that tried SO hard to destroy the broker industry,-
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