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

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