CBA has today announced its second consecutive record profit, $6.4 billion which represents a 13% increase on last year's figure of $5.6 billion, at a time of continued uncertainty around the globe. CBA remains one of the world's strongest and most successful banks.

“At this moment in time, CBA is the only big Australian bank that doesn’t send jobs offshore. Today’s announcement just reinforces the fact that they don’t need to chase cheap overseas labour to make the bank more profitable” said Leon Carter.

“There is no justification for profitable Australian banks to even contemplate sending bank jobs and functions offshore,” said FSU National Secretary Leon Carter.

“The fact that CBA has posted a record profit two years running is a clear indication that the bank can afford to keep every one of their jobs in Australia, and bank employees are calling on the bank to end the public speculation by ruling out offshoring.”

The FSU is also calling on the Federal Government to support the retention of Australian bank functions and jobs, and protect the privacy of individuals’ personal financial data.

“Finance workers are relying on the Federal Government to intervene, and support their efforts to keep jobs and skills in Australia.”

Independent South Australian Senator Nick Xenophon is expected to introduce a consumer “right to know” bill when MPs and Senators return to Canberra next week.

“Government members should get behind this bill, and work with FSU and industry stakeholders on a long term plan for the future of the industry,” said Leon Carter.

Ends

Spokesperson:
Leon Carter 0409 946 597

Media:
Leanne Shingles 0423 821 773