Commonwealth Bank Net Worth is$81.6 B
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Company Name: Commonwealth Bank of Australia
Company Logo: Image:Commonwealth Bank.svg
Company Type: Public company
Traded As: CBA
Company Slogan: '''''Determined''''' ''to be different''
Foundation: 1911 as a government bank, 1991 as a public company
Location: Sydney, Australia
Key People: David J Turner, Chairman and Ian Narev, CEO and Managing Director
Area Served: Worldwide
Industry: Banking, Financial services
Products: Finance and insurance, Credit Cards
Revenue: net income
Assets: num employees
Divisions: Retail Banking Services, Business and Private Banking, Institutional Banking and Markets, Wealth Management, International Financial Services. Subsid: BankWest, ASB Bank, Colonial First State, Sovereign Limited, Commonwealth Securities and CommInsure
Homepage: [http://www.commbank.com.au www.commbank.com.au]
Intl: yes
The Commonwealth Bank of Australia is an Australian multinational bank with businesses across New Zealand, Fiji, Asia, USA and the United Kingdom. Commonly referred to as the Commonwealth Bank (or Commbank), it provides a variety of financial services including retail, business and institutional banking, funds management, superannuation, insurance, investment and broking services. The Commonwealth Bank is now the second largest Australian listed company on the Australian Securities Exchange as of January 2008 with brands including BankWest, Colonial First State Investments Limited, ASB Bank (New Zealand), Commonwealth Securities Limited (CommSec) and Commonwealth Insurance Limited (CommInsure).
Founded in 1911 by the Australian government, the Commonwealth Bank is one of the 'big four' Australian banks, with National Australia Bank (NAB), ANZ and Westpac. The bank listed on the Australian Stock Exchange in 1991 and the government fully privatised it in 1996.
The Commonwealth Bank of Australia was founded by the Commonwealth Bank Act in 1911, introduced by the Andrew Fisher Labor Government, which favoured bank nationalisation. In a rare move for the time, the bank was to have both savings and general bank business. The bank was also the first bank in Australia to receive a Federal Government guarantee. The bank's earliest and most strenuous proponent was the flamboyant American-Australian Labor politician, King O'Malley, and its first Governor was Sir Denison Miller.
The bank opened its first branch in Melbourne on 15 July 1912. In an agreement with Australia Post that exists to this day, the bank also traded through post office agencies. In 1912 it merged with the state savings bank in Tasmania, and by 1913 it had branches in all six states.
In 1916 the bank moved its head office to Sydney. It also followed the Australian army into New Guinea, where it opened a branch in Rabaul and agencies elsewhere.
In 1920, the bank took over from the Department o

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Commonwealth Bank Latest News

Commonwealth Bank admits to breaching anti-money laundering and counter-terrorism laws more than 53,000 times

COMMONWEALTH Bank has admitted to a significant number of the breaches of anti-money laundering and counter-terrorism financing laws it has been accused of by the Federal Government’s financial intelligence unit. The bank has filed its response to the ...
Posted: December 13, 2017, 12:26 am

Commonwealth Bank files response to Austrac claims

Commonwealth Bank (CBA) today filed our response to the civil proceedings commenced by AUSTRAC on 3 August 2017. In our response filed today, we contest a number of allegations but admit others, including the allegations relating to the late submission of ...
Posted: December 13, 2017, 11:40 am

Commonwealth Bank admits multiple breaches in money laundering case

Commonwealth Bank of Australia has admitted multiple breaches of money laundering and counter terrorism laws in its response to a court action filed by Australia’s financial crime fighting agency. But the country’s biggest bank by assets said on ...
Posted: December 14, 2017, 8:24 pm
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