Interest rates and scams will be on the agenda for a hearing into two of Australia’s biggest banks.
NAB chief Ross McEwan and ANZ boss Shayne Elliott will appear at a parliamentary economics committee hearing in Canberra on Wednesday.
They will be followed by the bosses of Westpac and the Commonwealth Bank on Thursday.
Committee chair Daniel Mulino said the two-day hearing was a timely opportunity to put the spotlight on the four banks, which control 80 per cent of the Australian market.
“Australian households and small businesses depend on these banks for general banking, mortgages and business loans,” Dr Mulino said.
“It is crucial that our banks are resilient, but also competitive.”
He said in a year characterised by rising interest rates, bank closures and increasingly sophisticated scams, the committee would look at how the banks had protected themselves and their customers.
