Commonwealth Bank chief executive Ian Narev has not ruled out a mining lobby-style public campaign against the Turnbull government's big banks levy.
Mr Narev was the latest big bank CEO to speak out against the surprise $6.2 billion levy on the nation's five biggest banks unveiled in Tuesday's federal budget.
The bank boss was asked on ABC radio on Friday whether the banking industry would engage in a public campaign like the one unleashed by the mining lobby in 2010 to fight off then-PM Kevin Rudd's resources super profits tax.
Mr Narev said only that the banks had "a responsibility", once they had all the details of the proposed new levy, to explain its impact and explain that "it really is a tax on all Australians".
"Once we have all the details and we can work through them, we will work out the best way to do that," he said.
Mr Narev said the banks did not know of the new levy until an hour before the budget was unveiled.
He also said there was no way the banks could "absorb" the levy.
"Either prices go up or shareholders get less, there's nothing in the middle," he said.
The bank boss said he believed putting a tax on banks would play well in the opinion polls for the federal government but voters had to ask if that was how they wanted economic policy to be determined.
Mr Morrison has said the bank levy - which will be levied on ANZ, CBA, NAB, Westpac and Macquarie Group to gather $6.2 billion over four years - was "fair" and would boost competition in the banking industry and contribute to budget repair.
