CBA

Commonwealth Bank (CBA) has agreed to pay Storm Financial victims more than $200 million. Storm Financial was a Townsville-based financial planner which in 2008 was placed into liquidation after a collapse of their business model which involved investors withdrawing equity from the value of their homes to invest into the (then) booming share market.

One of the leading Australian financial institutions- Commonwealth Bank of Australia (CBA), which provides various types of financial service to companies, small businesses and individuals is about to extend its China Life Insurance join venture operation in an attempt to cover the national market after one of the major Chinese banks (the fifth largest one of the country) took as much as 51 percent share in the business.

The Australia based integrated financial service provider Commonwealth Bank (CBA), which has operations in the United States, UK, China, Japan, Malta, Fiji and some other countries is currently reviewing its highly profitable structured businesses something that has put its controversial presence in Malta in doubt.

Recently the largest home loan provider of Australia- Commonwealth Bank (CBA) has taken major initiatives to tighten its grip over the brokers who deal with its home loans. According to a home loan broking firm, CBA have recently moved forward with a new rule which makes it mandatory for the brokers to submit a minimum of four home loans in every three months.

Commonwealth Bank of Australia (CBA) released its 1H09 reports yesterday. The bank posted a 16 per cent drop in first-half profit as bad corporate debts linked to the global financial crisis hit the bottom line. Bad debts soared nearly five-fold to more $1.5-billion. As flagged in Commonwealth's surprise profit upgrade earlier this month, the bank's operating performance was sound, highlighted by a 20 per cent increase in banking income due to fee rises and volume and market share gains.

Commonwealth Bank of Australia (CBA) has announced that it will earn $2 billion profit in the first half of 2009. The company said that it would outperform market expectations by as much as 20 per cent with interim cash profit as large as $2 billion. The ASX requires listed companies to make public any information which substantially differs from consensus earnings estimates. CBA's announcement comes ahead of its interim results which are scheduled for February 11th.

Commonwealth Bank (CBA), the largest bank in Australia, defends its highly ranked executives in breach of disclosure rules during the issue of $2 billion capital raising. CBA disagreed by saying that, rules were not broken when it warned a small group of shareholders regarding the bad debt raise before a public announcement. The bank said that the information was not materially significant so there was no need to warn the public earlier.

Australia’s third largest banking corporation, Westpac (WBC) has decided to raise its capital by A$2.5 billion through a share sale on Tuesday, to strengthen its balance sheet due to the acquisition of St George Bank (SGB), which does not have a sound lending books and raise in bad debt charges. This move follows a capital raising by National Australia Bank (NAB) last month.