Commonwealth Bank of Australia’s
(ASX:CBA) Aussie Home Loans chief executive Ian Corfield says the broker's customer service has been unchanged by Commonwealth Bank becoming a dominant shareholder, according to media reports.
CBA lifted its stake in Aussie from 33 per cent to 80 per cent this year, sparking concerns the bank would use Aussie to sell more white-label or Aussie-branded products funded by CBA.
Mr Corfield told media the mortgage broker was using CBA's balance sheet to fund Aussie-branded products more cheaply.
But he says CBA's shareholding will not compromise the independence of the broker, which sells loans from 19 lenders, including rivals to CBA.
CBA generated a net profit of $7.7 billion in the 2013 financial year.
