The Commonwealth Bank has come under fire from Family First senator Steven Fielding after posting a profit of $5.6b.
The Commonwealth Bank is defending its 5.6 billion dollar profit saying it supports thousands of Australians through employment and dividend payouts.
''If Labor and Liberal had any guts they would take on the big banks and make them pay for the years of pain they've caused ordinary Australians by ripping us off time and time again," Family First Leader Senator Steve Fielding told the Sydney Morning Herald.
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Australia's biggest bank reported a net profit of 5.664 billion for the 12 months to June 30 up from 4.72 billion the year before with cash profit jumping 42 per cent.
"The banks are a bunch of greedy thieves, ripping off Australians trying to live the dream of owning their home," said Fielding, who is in a battle to save his place in the senate in his home state of Victoria.
''The Commonwealth Bank's profit could feed a third world country for a year yet we let them get away with sending Australians into mortgage stress because of their unrelenting greed," he said.
CBA Chief executive Ralph Norris says the bank employs more than 45 thousand people, paying wages of 4.5 billion dollars which support people right across Australia.
Norris, says the bank also paid 74 per cent of its profits or 4.5 billion dollars in dividends much of which will go to Australian mums and dads.
