Commonwealth Bank boss Matt Comyn wants to drive the post-COVID-19 economic recovery and become the country’s largest lender to business, in a bid to knock National Australia Bank off its long-held position as the top business bank.
After pausing $51 billion of mortgage repayments for 158,000 home loan customers during an extensive triage process last year as COVID-19 ravaged the economy, Commonwealth Bank has shifted gear and says backing companies to return the economy to solid growth has become the core duty for banks.