Border Bank welcomes the Final Report of the Hayne Royal Commission. We have a long history of keeping our Members interests at the centre of our decision making and have focussed on being a responsible bank since 1964 – so reviewing the Final Report was a priority when it was released on Monday afternoon. In reviewing the Final Report, we noted the widely reported 76 recommendations, but also that Commissioner Hayne identified six underlying principles for conduct of Banks that framed the development of the report specifically;
- obey the law;
- do not mislead or deceive;
- act fairly;
- provide services that are fit for purpose;
- deliver services with reasonable care and skill; and
- when acting for another, act in the best interests of that other.
Border Bank endorses this principles based approach and importantly noted that these are consistent with our organisational values and our vision to be the trusted bank of choice for our Members. It should come as no surprise that Police Bank Chairman Greg McKenna and CEO, Tony Taylor have today confirmed that Border Bank will comply with Mr Hayne’s recommendations as they apply to our business and in so doing, look to ensure our Members have the confidence of knowing that we are focussed on doing the right thing today and in the future.
Of course we believe that for Border Bank, doing the right thing goes beyond banking regulations. It extends to our social licence – how we support our Members in good times and in bad, and how we support the wider Border Bank Family. It’s the right thing to do.