It's not my job to be popular, says Commonwealth Bank chief Ralph Norris

COMMBANK boss Ralph Norris is disappointed that criticism got personal after his bank's rate rise.

Commonwealth Bank of Australia chief executive Ralph Norris.

RALPH Norris today said he was not running Commonwealth Bank to be popular, as he responded to stinging criticism of its latest rate hike.

The Commonwealth Bank chief executive today criticised the "personalisation" of the reaction to the bank’s move to hike lending rates by almost double the Reserve Bank’s official decision this week.

In his first statement about the 45-basis point rate hike, Mr Norris said he took responsibility for the decision that was made shortly after the Reserve Bank meeting on Tuesday.

"There’s no doubt we expected a backlash," Mr Norris told The Australian Online.

"My job is not to be popular, it’s to run a bank and I have to deal with a commercial reality.

"I have to make decisions that are not easy. It’s caused me a fair degree of introspection and angst.

"What I was disappointed with has been the degree of personalisation in this."

The bank chief returned to Australia today after a week-long visit to tour the CBA’s China operations.

Read more of Ralph Norris's comments at The Australian.