Commonwealth Bank
Commonwealth Bank of Australia
Type
Public (ASX:CBA)
Founded
1911 as a government bank
1991 as a public company
Headquarters
Sydney, Australia
Area served
Australia
New Zealand
Fiji
Indonesia
Vietnam
UK
USA
China
Hong Kong
Singapore
Key people
Dr John Schubert, Chairman
Ralph Norris, CEO and
Managing Director
Industry
Finance and Insurance
Products
Banking, financial and related
services
Revenue
▲ $28.564 billion AUD (2006)
Profit
▲ $4.791 billion AUD (2008)
Employees
38,000 (Full-time equivalent)
Subsidiaries
BankWest, ASB Bank, Colonial
First State Investments
Limited, Sovereign Limited,
Commonwealth Securities and
CommInsure
Website
www.commbank.com.au
The Commonwealth Bank of Australia
(ASX: CBA) is the second largest bank by
market capitalisation in Australia[8][9], with
businesses across New Zealand,Fiji, Asia,
USA and the United Kingdom. Common-
wealth Bank provides a variety of financial
services including retail, business and institu-
tional banking, funds management, superan-
nuation, insurance, investment and broking
services. Commonly referred to as the Com-
monwealth Bank
(or Commbank), The
Commonwealth Bank is now the second
largest Australian listed company on the Aus-
tralian Securities Exchange as of January
2008 with brands including BankWest, Colo-
nial First State Investments Limited, ASB
Bank (New Zealand), Commonwealth Securit-
ies Limited (CommSec)and Commonwealth
Insurance Limited
(CommInsure). On 7
December 2007 the bank won its skirmish
with ANZ over bragging rights to the title of
"Australia’s most convenient bank".
Founded in 1911 by the Australian govern-
ment, 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.
On 14 August 2008 the Commonwealth
Bank declared a $4.7 billion annual profit [1].
The bank has approximately 7.7 million cus-
tomers, 1011 branches and 3350 ATMs [2].
History
Old Commonweal