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CBA boss defends commissions

AAP logoAAP 4/10/2016

Commonwealth Bank boss Ian Narev has defended commissions paid to his staff for selling products.

"What we encourage them to do is engage with their customers to have conversations about their financial needs, and we're happy to reward them for doing that in a good way," he told the House of Representatives economics committee on Tuesday.

Mr Narev said the bank was co-operating with the Australian Bankers' Association review of commissions, led by former commonwealth auditor-general Ian McPhee, to "identify and remove any areas where we believe there could be a conflict between or a perceived conflict between the interests of the customers and the interests of the bank".

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