(19 January 2010 – Australia) The chief executive of Westpac Banking Corporation, Gail Kelly, will appear before the Senate’s inquiry into banking sector competition at the end of this week.Mrs Kelly, who was forced to postpone her original appearance before the senate due to the death of her mother, will be last of the big four bosses to give evidence.
Mrs Kelly will follow ANZ’s Mike Smith, CBA’s Ralph Norris and NAB’s Cameron Clyne, and is expected to also testify that competition is strong in the Australian retail banking market, heightened by the current war for deposits.
In its previously written submission, the bank said that there should be changes to make savings for retail customers more tax effective.