Banks still out in the cold

11^th July 2008

Banks are still to face some chilly winds, according to Commonwealth Bank head Ralph Norris, speaking to an audience of more than 400 alumni, staff and students at UNSW.

Mr Norris, Managing Director and CEO of Australia’s largest bank, was interviewed by Narelle Hooper, the Australian Financial Review’s BOSS Editor, at a “Meet the CEO” event organised by the Australian School of Business at UNSW.

During the past 15 years Australian banks have experienced a particularly sunny time but Ralph Norris sees that there is still “more bad news around the corner”. Citing the American sub prime mortgage crisis, he points out that many of the problems for banking today come from outside Australia.

For more on this story go to the Australian School of Business website.

Media Contact: Marie Kelly | 9385 5895 | mariek@unsw.edu.au