Commonwealth Bank (CBA)

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Commonwealth Bank of Australia (CBA) is one of the top banks of Australia and provides a collection of financial products and services to the individual, small businesses and institutional clients. CBA also provides insurance and fund management. The Bank also has operations in China, the UK, the US, Japan, Singapore, Hong Kong, Grand Cayman, Malta, Fiji, Indonesia and Vietnam. CBA listed on the Australian Stock Exchange on the 12th September 1991. Dr John Schubert is the Chairman of CommBank while Ralph Norris is the CEO. Their shareholder base totals more than 700,000 and more than 75 per cent of their staff in Australia are shareholders. The Commonwealth Bank operates the largest financial services distribution network in the country with the most points of access with 1,010 branches in Australia and 3,800+ Australia Post agencies. CBA also has a network of 3,200 ATM's in Australia and also supports more than 171,000 EFTPOS terminals. They have Australia's largest banking customer base.

Commonwealth Bank Company Structure

Commonwealth Bank has an operation consisting of three business divisions: Banking, Insurance, Fund Management.

CBA Banking Division

Commonwealth bank retail banking services include checking and saving accounts, credit cards and mortgage lending. The Bank's commercial banking services include credit, cash management and investment products to small and medium enterprises, small businesses, and professionals. This division also offers agricultural loans and real estate finance. Additionally, this division provides internet banking services through its technology platform, NetBank and online brokerage services through Commonwealth Securities (CommSec).

CBA Fund Management

Commonwealth bank fund management division provides investment products and superannuation services. CBA manages a wide range of wholesale and retail investment, superannuation and retirement funds. This division provides a range of investment options such as shares, listed property, fixed interest, credit, infrastructure, private equity and cash.

CBA Insurance

Commonwealth bank insurance division offers life and general insurance services through Commonwealth Insurance Holdings and The Colonial Mutual Life Assurance in Australia. Life insurance is also provided by Sovereign Assurance Company in New Zealand and a number of subsidiaries and joint ventures throughout Asia.This division also provides master trusts, annuities and investment products.

Commonwealth Bank Company History

The Commonwealth Bank of Australia was founded under legislation, namely the Commonwealth Bank Act, enacted by Andrew Fisher's Labor Government in 1911. The Bank’s Note Issue Board was established in 1920, assuming responsibility for note issue from the Federal Treasury.

In 1959, the central banking activities of the group were diverted to Reserve Bank of
Australia. The early 1990s saw the Commonwealth Bank of Australia undergoing an extensive organizational restructuring. The group went public in 1991 and was listed on the Australian Stock Exchange with the government owning a majority stake. In 1993, CBA acquired Commonwealth Savings Bank of Australia. The group merged with Colonial in the year 2000.

Global CBA

The Commonwealth Bank Group has a growing international presence through:

  • Retail banks in New Zealand (ASB Bank), Indonesia (PT Bank Commonwealth), Fiji (Colonial National Bank) and China (11% of Jinan City Commercial Bank and approximately 19.9% of Hangzhou City Commercial Bank)
  • Commonwealth Bank branches in London, New York, Tokyo, Singapore, Hong Kong, Ho Chi Minh City and Auckland
  • Wholly owned life insurance operations in New Zealand (Sovereign Insurance) and Fiji (Colonial Fiji Life)
  • Joint venture life insurance businesses in Indonesia (Commonwealth Life) and China (China Life CMG)
  • First State funds management businesses in Hong Kong, Singapore, UK, Fiji, China and Indonesia
  • Representative offices in Beijing, Shanghai, Hanoi and Bangalore. 

Commonwealth Bank (CBA) Products and Services

  • Commonwealth Banking Services
    • Credit cards
    • Demand and term deposits
    • Housing loans
    • Equities and advisory solutions
    • Merchant banking
    • Personal loans
    • Retail banking services
    • Savings accounts
    • Stock broking
    • Structured finance
    • Transaction banking
  • Commonwealth Bank Fund Management
    • Mutual Funds
    • Retirement funds
    • Superannuation products
    • Local and International Shares
    • Listed Property
    • Fixed Interest
    • Cash
    • Credit
    • Infrastructure
    • Private Equity
  • Commonwealth Bank Insurance Services
    • Annuities
    • Disability insurance
    • General insurance
    • Investment products
    • Life insurance
    • Master trusts
    • Pension products
  • Commonwealth Bank Corporate Services
    • Financial markets services
    • Securities Underwriting
    • Trading and distribution
    • Corporate finance
    • Equities
    • Payments and Transactions services
    • Custody Services
    • Investment Management

Commonwealth Bank is Australia’s largest life insurer and is Australia's largest manager in retail superannuation, allocated pensions and annuities by funds under management.

Commonwealth Bank Competitors

Commonwealth Bank (CBA) Locations and Subsidiaries

CommBank Head Office
Commonwealth Bank of Australia
48 Martin Place
Sydney, New South Wales 1155
P:61 2 9378 2000
F:61 2 9378 3317

Commonwealth Bank New Zealand Subsidiary
ASB Bank Limited
Level 28 ASB Bank Centre
135 Albert Street

Commonwealth Bank Fiji Subsidiary
Colonial National Bank
Colonial Life Limited
3 Central Street

Commonwealth Bank Indonesian Subsidiary
PT Bank Commonwealth
Ground Floor, Wisma Metropolitan II Jl
Jendral Sudirman Kav
29-31 Jakarta 12920

Commonwealth Bank China Representative Office
2909 China World Towers 1
1 Jian Guo Men Wai Avenue
Beijing 100004

Commonwealth Bank New York Branch
Level 17, 599 Lexington Avenue
New York City, New York 10022

Commonwealth Bank London Branch
Senator House
85 Queen Victoria Street
London EC4V 4HA

Commonwealth Bank (CBA) Share Price

Submitted by Share Trading on 5 February, 2008 - 06:37