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“We remain committed to the broker channel”: CBA

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Australian Broker | 10 Aug 2017, 08:25 AM Agree 0
While the CEO noted the importance of brokers, the bank's financial figures show an uptick in proprietary lending
  • Clarke Kent | 10 Aug 2017, 08:36 AM Agree 1
    There is also the fact that their service levels are so disgraceful one cannot rely on delivery ~ we use their little brother BankWest response time 24 hours
  • Lois Lane | 10 Aug 2017, 08:50 AM Agree 0
    CBA are all too willing to pinch our clients once we place client business with them. Do you trust them?
  • Nick | 10 Aug 2017, 09:04 AM Agree 0
    Appears to me the sentence was not completed ....."We remain committed to the broker channel, and committed to stealing broker introduced business"

    ... and based on what I have seen that about sums it up !
  • DMC | 10 Aug 2017, 09:15 AM Agree 0
    I think the banks admission that they plan to focus away from the third party channel is probably a deflection that brokers are already doing this for them because of the previously highlighted shortcomings of the organisation. This is just consistent with the banks never wrong attitude!
  • Country broker | 10 Aug 2017, 09:16 AM Agree 0
    They might remain committed to the broker channel , until the client walks into a branch and the branch staff are keen to pinch them , it just happens too often for me to trust them!!
    Also I feel from the comments from their CEO they are looking for any opportunity to reduce or alter broker commissions, for me unless they are the only lender suited I will stay away, obviously many others are doing the same.
  • Lex Luthor | 10 Aug 2017, 09:29 AM Agree 0
    The CBA quietly removed all broker name and contact details from their home loan statements 12 months ago. Shows how UNCOMMITTED they are to the broker channel. Prepare for the onslaught of brokers loans being siphoned to branch books.
  • JB | 10 Aug 2017, 09:31 AM Agree 0
    It's very simple. If you wish to keep your trail intact & minimise clawback you must not send your client to CBA.
  • Ian Narev's Software | 10 Aug 2017, 09:42 AM Agree 0
    And, of course, being Australia's most ethical bank we can trust everything they say
  • Broker | 10 Aug 2017, 10:30 AM Agree 0
    As a Broker ,I remain totally uncommitted to CBA!
    • | 10 Aug 2017, 10:51 AM Agree 0
      Well and simply said...
  • CBA Who | 10 Aug 2017, 11:32 AM Agree 0
    CBA have remained committed to the broker channel just as committed as they are to the quality and ethical behaviour of their in house financial planners, and as committed to compliance and anti-money laundering activity.

    I would hate to see what happens to the areas that CBA are not committed to......God help those areas!!
  • whatajoke | 10 Aug 2017, 05:57 PM Agree 0
    Yes seems CBA is attracting clients with money laundering requirements as well.
  • John Whitten | 11 Aug 2017, 08:59 AM Agree 0
    Has anyone thought that the decreased percentage is caused because brokers are sending less loans to CBA. The way I see it, is the percentage will get even less. I wonder how the market will feel when they realise that brokers are not sending business to CBA.
    No one should be surprised that CBA have been caught in the money laundering scandal, you get the feeling that they think they are above the law. It's time for a Royal Commission into the banks, and CBA's attitude is to blame.
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