Commonwealth Bank expects to take two years to review 8,000 complaints about the poor financial advice that cost some customers large amounts of their life savings.
More than 23,000 customers made an expression of interest to the bank in the wake of the scandal, and Australia's largest lender has so far assessed about 1,500 of the 8,000 formal reviews requested as a result.
"Our sole focus is to get to the right answer for customers who have not received correct advice. It will take about two years to complete and this is normal for a program of this size and complexity," chairman David Turner told the bank's annual general meeting in Sydney on Tuesday.
A Senate report into the bank's financial advice business last year blasted CBA over its response, or lack thereof, to cases of fraud and misconduct in the division.
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